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International Consolidated Airlines Group
International Consolidated Airlines Group (IAG) investor relations material
International Consolidated Airlines Group Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary7 Nov, 2025
Executive summary
Achieved another strong quarter with Q3 operating profit up 2% to €2,053 million and a 22% margin, supported by robust demand and effective cost control.
All airlines in the group reported operating margins above 20% for the quarter, with Iberia leading at 25.3%.
Balance sheet strength enabled increased dividends, nearly €1 billion in share buybacks, and further shareholder returns are planned.
Strategy execution remains focused on long-term value creation and high returns.
Interim dividend of €0.048 per share declared, representing 50% of anticipated annual total.
Financial highlights
Total revenue for the nine months increased 4.9% year-over-year to €25,234 million; Q3 revenue was €9,328 million.
Operating profit for the nine months rose 18.3% to €3,931 million; Q3 operating profit up €40 million to €2,053 million.
Adjusted earnings per share for the nine months increased 27% to 55.5 euro cents, aided by share buybacks.
Net profit for the nine months was €2,703 million, up 15.5% year-over-year.
Net leverage reduced to 0.8x, gross leverage at 1.9x, and net debt at €6,009 million.
Outlook and guidance
Full-year 2025 outlook unchanged, with positive Q4 bookings and revenue trends.
Capacity expected to grow by approximately 2.5% in 2025.
Non-fuel unit costs projected to rise around 3% for the year; fuel costs expected at €7.1 billion.
CapEx for the year expected at €3.7 billion.
Confident in sustaining top-end margin guidance into next year, supported by strong demand and transformation benefits.
Clarify excess cash return leverage target
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Next International Consolidated Airlines Group earnings date
Q4 202527 Feb, 2026
International Consolidated Airlines Group
Next International Consolidated Airlines Group earnings date
Q4 202527 Feb, 2026
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Frequently asked questions
International Consolidated Airlines Group S.A. is a multinational airline holding company that owns and operates several airline brands, including British Airways, Iberia, and Vueling. It provides passenger and cargo air transport services globally. The company is headquartered in Madrid, Spain, and its shares are listed on the BME.
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