British Airways parent says profit drops on higher fuel costs
Profit after tax fell to €1.23 billion in the July-September period compared with €1.4 billion for the third quarter of 2025.
IAG, the parent company of British Airways and Iberia, reported a 12% drop in net profit for the third quarter due to soaring fuel costs and flight disruptions. The company's profit after tax fell to €1.23 billion in the July-September period, compared to €1.4 billion in the same period last year. IAG attributed the decline to higher jet fuel prices, which surged more than 30% in the quarter, and lower flight capacity.
The Middle East conflict and engine issues also contributed to cancellations and disruptions. Despite these challenges, IAG CEO Luis Gallego stated that the company delivered a resilient quarter. IAG's overall flight capacity was affected by cancellations due to the conflict, aircraft availability issues, and air traffic control disruptions. The company's other brands include Irish airline Aer Lingus and Spanish carrier Vueling.
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- Soaring fuel costs hit profit at British Airways owner IAG cityam.com
- British Airways parent says profit drops on higher fuel costs freemalaysiatoday.com
