February 24, 2017 / 7:23 AM / 6 months ago

British Airways owner IAG to buy back shares after solid results

LONDON, Feb 24 (Reuters) - British Airways owner IAG reported operating profit in line with expectations on Friday, and said it would increase cash returns to shareholders through a stock buyback.

IAG said operating profit before exceptional items for 2016 was 2.5 billion euros, up 8.6 percent and roughly in line with expectations.

The airline group, which also owns Spain's Iberia, said it intended to carry out a share buyback of 500 million euros during the course of 2017.

Reporting by Alistair Smout, Editing by Paul Sandle

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