Shares of International Consolidated Airlines Group PLC (LON: IAG) surged 9% today after the owner of British Airways unveiled a list of 17 new destinations for August. Due to the pandemic and certain hotspots around the globe, the frequency of flights to these destinations will be low.
The carrier is aiming to capitalize on a better-than-expected demand for holiday travel. To this end, popular summer destinations such as France, Italy, and Turkey are included in the list.
British Airways has also offered flexible booking options. Travelers are able to change or cancel a booking without any additional cost.
Last week, IAG confirmed it is seeking to raise $3.27 billion to weather the pandemic-fueled crisis.
“These are really extreme times. We’re seeing a much slower and more gradual build-up,” Chief Executive Willie Walsh told BBC.
IAG share price is trading 9% higher today as the buyers test a descending trend line resistance. A break above this trend line would pave the way for more sustained gains.