International Consolidated Airlines Group SA (LSE:IAG) was noted by Citi as the investment bank published long and short positioning data for European airlines using new quantitative team findings to highlight a strong monthly increase in long investor crowding.
The shares climbed 1% to 424.6p as the Americab investment bank published improved week-on-week sector positioning changes, noting that the major airline group remains a 'two-way debate' alongside regional peer Air France-KLM (OTC:AFLYY).
Evaluating the key developments, the update showed more bullish positioning week on week across the European aviation pack, with short positioning falling across the investment bank's entire airline coverage universe.
Long crowding increased week on week for every operator tracked by the quantitative research team as part of the broader positioning data findings.
The data also showed budget operator Ryanair Holdings PLC (LSE:RYA) recording the biggest weekly increase in long positioning among the covered names monitored by the quantitative analytics team.
This influx of investor interest follows a recent wave of market focus on the Irish carrier, though it ultimately remains in the 'two-way debate' quadrant overall.
Elsewhere in the coverage, Citi flagged that despite higher month-on-month long interest, German carrier Lufthansa remains a 'consensus short' alongside rival operator Wizz Air Holdings PLC (AIM:WIZZ).
According to the reported data, budget operator Wizz Air has the highest level of short crowding among all covered names in the investment bank's airline coverage.
Framing the broader picture, Citi noted in the published report's title that sector overhangs remain despite the more positive step in the data.
