IAG has completed an off-market buy-back with 94 million shares sold at $4.40 per share. The total payout was $414 million, representing around 5.6% of IAG’s ordinary shares.

CFO George Venardos says the company is pleased with the response to the buy-back. “For shareholders who retained their shares, the final buy-back price represents a very efficient price for the group to purchase its shares.”