International Consolidated Airlines Group S.A. (IAG.L,INR.DE,IAG.MC), on Thursday has launched a share purchase programme of up to 55 million euros to fund upcoming share-based incentive awards for executives and employees.
The buyback will run from November 27 to no later than December 31, with early termination allowed if required
The programme authorises the purchase of up to 9.4 million shares, representing 0.2% of its share capital as of November 27.
Daily volumes will be capped at 25% of the average trading volume over the prior 20 sessions.
The company said that proceeds will be used to satisfy awards under IAG's share-based incentive plans. Shares bought will be held in the treasury.
On Wednesday, International Consolidated Airlines is 2.04% higher at GBP 399.20 on the London Stock Exchange.
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