- IAG has reported Q3 2026 revenue of €9.74bn, up 4.5pc year-on-year
- Operating profit before exceptional items reached €1.73bn, down from €2.05bn in Q3 2025
- Operating margin was 17.7pc, with full-year guidance maintained at least 12pc
- Net profit after tax fell 12.2pc to €1.23bn
- IAG expects full-year 2026 capacity to be slightly down on 2025
IAG has reported revenue of €9.74bn for Q3 2026, an increase of 4.5pc year-on-year. Operating profit before exceptional items reached €1.73bn, down from €2.05bn in Q3 2025. The operating margin was 17.7pc, and IAG maintained its full-year 2026 operating margin guidance of at least 12pc. Net profit after tax fell 12.2pc to €1.23bn.
Passenger revenue rose 3.8pc and cargo revenue grew 3.9pc. British Airways saw a 12pc boost in North Atlantic unit revenue. IAG now expects full-year 2026 capacity to be slightly down compared to 2025. This reflects the suspension of routes to several Gulf destinations due to Middle East disruptions, which drove a 19pc capacity drop in that specific region.
IAG lifted its interim dividend by 10pc to €0.053 per share and started the final €500m tranche of its €1.5bn share buyback programme. Non-fuel unit costs are projected to rise by roughly 1pc for the full year, with total fuel costs estimated at €8.9bn. IAG reported 85pc of expected seats available for Q4 have been booked, with numbers for Q1 2027 looking strong.
Luis Gallego shared “For the quarter we have achieved an operating margin before exceptional items of 17.7pc, despite the very high price of jet fuel and a number of one-off disruption events, clearly demonstrating the quality of our business.”
