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BUZZ-IAG: 3rd top Stoxx travel loser on lower 2016 profit outlook
July 29, 2016 / 7:31 AM / a year ago

BUZZ-IAG: 3rd top Stoxx travel loser on lower 2016 profit outlook

** British Airways-owner IAG -1.5% & 3rd top Stoxx 600 travel & leisure loser after co posts lower-than-expected quarterly oper profit, cautions on 2016 profit outlook

** Due to attacks, strikes & Brexit impacting travel demand now sees FY profit rise by “low double digit” pct vs original guidance of more than 900 mln euros (+c.40% on year earlier)

** Already cautioned on guidance once after Brexit vote on June 23

** Stock down by a third YTD vs -15% for European travel & leisure index

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