IAG reports 16.2% drop in net profit through September

International Airlines Group (IAG), the parent company of Iberia, British Airways, Vueling, Aer Lingus, and Level, reported a net profit of 2,264 million euros for the first nine months of 2026. This represents a 16.2% decrease compared to the same period in the previous year.

The group attributed the decline to rising fuel costs and operational disruptions caused by the military conflict in the Middle East. While net profit fell, total revenue increased by 2.3% to 25,808 million euros. Operating profit saw a 15.2% decline, reaching 3,334 million euros.

IAG estimates total fuel costs for 2026 will reach 8,900 million euros, which is 300 million euros higher than previous projections. Despite these pressures, the group transported 92.6 million passengers, a 0.2% increase year-over-year, maintaining an occupancy rate of 86.1%. CEO Luis Gallego stated the company remains on track to achieve an operating margin of at least 12% for the full year.