The latest Market Talks covering the Auto and Transport sector. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.
0748 GMT – IAG said it intends to resume its ordinary dividend and distribute excess cash in the form of special dividends and/or buybacks, but didn’t provide a timeline, Citi analysts say in a note. The company—which operates British Airways and Iberia among others—said it expects capital expenditure to be around EUR4.5 billion between 2024 and 2026, with investment going across its fleet, IT and product offerings, whilst intending to pursue inorganic opportunities, Citi says. “We think lack of timeline on resumption of ordinary dividend along with capex outlay is likely to be taken negatively,” Citi says. (anthony.orunagoriainoff@dowjones.com)
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