LONDON: British Airways owner IAG reported better-than-expected quarterly profit on Friday, after an improved performance in Spain and Latin America helped to boost its income from passengers.
IAG said third-quarter operating profit before exceptional items rose 20.7 percent to €1.46 billion, ahead of a company-compiled analyst consensus of €1.4 billion.
The airline group, which also owns Iberia, Aer Lingus and Vueling, said it expected operating profit for the full year to be €3 billion before exceptional items.
IAG’s robust performance comes in a tumultuous year for airlines. Air Berlin, Alitalia and Monarch have all become insolvent, while budget carrier Ryanair was forced to cancel flights due to a pilot rostering fiasco.
“All our companies performed well,” Chief Executive Willie Walsh said in a statement. “Passenger unit revenue was up 2.2 percent at constant currency boosted by improvements in the Spanish and Latin American markets.”
“Our commercial performance was good despite underlying disruption from severe weather and terrorism.”
British Airways owner IAG beats profit expectations in third quarter
British Airways owner IAG beats profit expectations in third quarter
Saudi stock market opens its doors to foreign investors
RIYADH: Foreigners will be able to invest directly in Saudi Arabia’s stock market from Feb. 1, the Kingdom’s Capital Market Authority has announced.
The CMA’s board has approved a regulatory change which will mean the capital market, across all its segments, will be accessible to investors from around the world for direct participation.
According to a statement, the approved amendments aim to expand and diversify the base of those permitted to invest in the Main Market, thereby supporting investment inflows and enhancing market liquidity.
International investors' ownership in the capital market exceeded SR590 billion ($157.32 billion) by the end of the third quarter of 2025, while international investments in the main market reached approximately SR519 billion during the same period — an annual rise of 4 percent.
“The approved amendments eliminated the concept of the Qualified Foreign Investor in the Main Market, thereby allowing all categories of foreign investors to access the market without the need to meet qualification requirements,” said the CMA, adding: “It also eliminated the regulatory framework governing swap agreements, which were used as an option to enable non-resident foreign investors to obtain economic benefits only from listed securities, and the allowance of direct investment in shares listed on the Main Market.”
In July, the CMA approved measures to simplify the procedures for opening and operating investment accounts for certain categories of investors. These included natural foreign investors residing in one of the Gulf Cooperation Council countries, as well as those who had previously resided in the Kingdom or in any GCC country.
This step represented an interim phase leading up to the decision announced today, with the aim of increasing confidence among participants in the Main Market and supporting the local economy.
Saudi Arabia, which is more than halfway through an economic plan to reduce its dependence on oil, has been trying to attract foreign investors, including by establishing exchange-traded funds with Asian partners in Japan and Hong Kong.
