International Cons Airlines Group Completion of share buy-back programme

RNS Number : 0554W

International Cons Airlines Group

11 July 2024

 

 

 

 

INTERNATIONAL CONSOLIDATED AIRLINES GROUP, S.A.

Completion of the share purchase programme

 

In relation to the share purchase programme (the "Programme") announced on 1 July 2024, following the acquisitions made on 10 July 2024, INTERNATIONAL CONSOLIDATED AIRLINES GROUP, S.A. ("IAG" or the "Company") announces that it has completed this Programme in accordance with its terms.

Under the Programme, the Company has acquired a total of 27,064,575 ordinary shares, representing approximately 0.5 per cent of the Company's share capital.

As communicated at the time, the purpose of this Programme was for the Company to hedge its requirement to deliver shares to Globalia as part of the consideration for its proposed acquisition of the remaining 80 per cent. of the issued share capital of Air Europa. As announced on 24 February 2023, the proposed acquisition of Air Europa is subject to regulatory and other approvals. If the proposed acquisition is not completed, the shares purchased under the Programme alternatively may be used to satisfy share awards to executives and employees (including executive directors) made under the IAG share-based incentive plans.

 

Nicholas Cadbury

Chief Financial and Sustainability Officer

 11 July 2024

 

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