February 23, 2018 / 7:14 AM / 8 months ago

IAG profit rises 19 pct, to return 500 mln euros through buyback

LONDON, Feb 23 (Reuters) - British Airways owner-IAG posted a 19 percent rise in annual profit on Friday, broadly in line with expectations, and said it expected a further improvement in profit this year, as it announced a 500 million euro share buyback.

IAG’s operating profit before exceptional items rose to 3.015 billion euros in 2017, compared to a consensus forecast of 3.046 billion euros, and ahead of the 2.535 billion euros it made last year.

The airline, which also owns Iberia, Vueling and Aer Lingus, said it would return 500 million euros to shareholders during 2018, in its second share buyback in two years. (Reporting by Sarah Young, Editing by Paul Sandle)

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