Shares in Aer Lingus owner IAG soar despite heavy losses and poor outlook

IAG said its third quarter revenue fell by 83% to €1.2bn

Aer Lingus owner IAG has said it has no chance of breaking even in net cash flow terms before the end of the year. File picture: Colin Keegan/Collins Dublin

Shares in Aer Lingus owner IAG jumped by over 4% despite the airline group posting a €1.3bn loss for the third quarter of the year and saying it no longer expects to break even in net cash flow terms before the end of the year.

IAG — which also owns British Airways and Spanish carriers Iberia and Vueling — said its third quarter revenue fell by 83% to €1.2bn.