International Consolidated Airlines Group, S.A.

International Consolidated Airlines Group, S.A. Earnings Recaps

ICAGY Industrials 1 recap
Q3 2025 Nov 7, 2025

International Airlines Group (IAG) reported a solid third quarter in 2025, with stable passenger revenues and high operating margins, maintaining strong demand for travel while managing costs effectively.

Key takeaways
  • Operating margin reached 22% for the quarter, with all airlines reporting margins over 20%.
  • Revenue increased by EUR 177 million (2% year-on-year), driven primarily by robust travel demand.
  • Iberia led operating profit growth, up EUR 56 million to EUR 510 million, with a margin of 23.7%.
  • Nonfuel costs improved, partially offsetting higher operational expenses due to pay deals and new aircraft.
  • The outlook for Q4 remains positive, although projected currency headwinds may impact revenue performance.
Full recap