International Consolidated Airlines Group, S.A. Earnings Recaps
Q3 2025
Nov 7, 2025
International Airlines Group (IAG) reported a solid Q3 2025, with a 2% increase in passenger revenue and strong operational margins at 22%, driven by robust travel demand and effective cost management.
Key takeaways
- Operating profit up EUR 40 million YoY, aided by solid performances from Iberia and Aer Lingus.
- Margins across all airlines exceeded 20%, with Iberia achieving a 23.7% margin.
- Non-fuel costs improved quarter-on-quarter, despite growing employee pay commitments; IAG remains focused on maintaining competitive cost controls.
- Plans to return excess cash to shareholders are underway, signaling confidence in ongoing value creation and balance sheet strength.
- Anticipating stable demand in the long-haul market; Q4 revenue outlook remains positive despite currency headwinds.