IAG shares lift as British Airways names new boss

Top flight shares struggled for direction yesterday, even after British Airways owner International Airlines Group (IAG) upgraded its targets and announced a new boss at the UK carrier.

IAG boosted its average earnings per year by 12% to €5.6bn, adding that the chief executive of low-cost airline Vueling, Alex Cruz, will replace Keith Williams, who is retiring as chairman and chief executive of British Airways next April.

The FTSE 100 Index fell 11.1 points to 6353.8, in a lacklustre session which saw traders largely unmoved by the announcement of strong US new job numbers in October. IAG lifted 21.5p at 602p.