Morgan Stanley review of IAG causes shares to slide

International Airlines Group which owns British Airways and Iberia slid lower after a Morgan Stanley update.

IAG Logo

IAG Logo

Morgan Stanley is, overall, fairly positive on the group with an overweight rating on the shares. But it removed IAG from its Europe Best Ideas list, preferring budget airlines in the short term.

Morgan Stanley expects low cost carriers such as Ryanair to outperform IAG in the near term.

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