The price of the Iag shares increased sharply on Friday, with 4.8 % for trade in GBX 354 at the time of writing this report. The bullish trend is supported by strong profit results that overcome analysts’ expectations. Also, the group, which owns several airlines, including British Airways, Aer Lingus, Iberia and Vueling, announced a billion euros re -purchase program, which added momentum alongside the arrow.
Ig (LSE: Iag) has reported the modified operating profits of 4.44 billion euros, as the expected number of analysts of 4.08 billion euros exceeded. Meanwhile, quarterly revenues grew by 11 % to 8 billion euros. However, net profits of 392 million euros, and the loss of the expected consensus 498 million euros.
Air travel was on a recovery path in the past year, as revenues are expected to cross a trillion dollar brand in 2025. In addition, global oil prices were on the declining track last year, 10.9 % and airlines helped reduce costs.
In addition, cold geopolitical tensions in the Middle East and US President Donald Trump in the Russian-Ukraine war disturb the air travel. Iag calls the seats available per kilometer (ASK) by 3 % in 2025, reflecting analysts’ expectations. This scenario prefers the price of Ig to stay on the medium -term growth path.
Ig share price predictions
Ig 350 share price axes will prefer and procedure above this level to stay in control. The instant resistance in GBX 357 will come, but the strongest momentum will collapse above this level and the second resistance will be tested in GBX 365.
On the other hand, the GBX 350 break will turn the momentum into the negative side. In this case, Ig’s first support price can find the GBX 345. The bullish direction will be invalid if the price will be less than this level. This momentum can extend for the second support test in GBX 340.
