The International Consolidated Airlines Grp SA (LON: IAG) share price has risen 30.4% this year and is on track to recoup all its losses and reclaim its year-to-date highs of 173p. The company, which operates the flagship British Airways airline, has recovered from the lows witnessed on 20 March 2023.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
The IAG share price has risen 4.86% in the past week as investor sentiment towards the airline group turned positive, lifting it from its early June lows. However, the airline group faces a significant challenge in the upcoming strikes at Heathrow Airport, its home base.
Top Broker Recommendation
- XTB UK regulated by the FCA – Read our Review
- Admiral Markets More than 4500 stocks & over 200 ETFs available to invest in – Read our Review
- BlackBull 26,000+ Shares, Options, ETFs, Bonds, and other underlying assets – Read our Review
- eToro Wide range of instruments available to trade – Read our Review
- IG Top-tier regulation – Read our Review
YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY
Security personnel at Heathrow plan to strike for 31 days, starting next month and into the summer season, which will significantly hamper IAG’s operations during the strike days. The company may be unable to meet its revenue and passenger targets during the summer months if the strikes happen for a prolonged period.
IAG also has a massive debt pile of £8.3 billion, a significant improvement from the previous figure of £10.3 billion. The company has been tackling its debt pile recently after its revenues soared from over £3.4 billion in the three months to March 2022 to over £5.8 billion this year.
The company’s pretax losses also shrunk from £787 million to £87 million, marking a significant improvement. IAG has made significant steps to revamp its business recently, with the changes starting to pay off now, as evidenced by the positive revenue numbers.
Looking at IAG’s share price chart, we can see that the shares are headed towards their YTD high of 173p. However, there is some resistance at the 168p level, after which the 173p level is easily reachable.
Therefore, the overall technical picture for IAG shares remains positive as its share price increases towards its YTD highs. Still, investors should watch out for next month’s strikes at Heathrow that could significantly impact the IAG share price.
*This is not investment advice.
IAG share price.
The IAG (LON: IAG) share price has risen 30.38% this year, having lost some of its earlier gains. What’s next for the airline group?
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
