BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - IAG (BAY.L, IAG.L, INR.DE, IAG.MC) reported third quarter profit after tax of 1.23 billion euros, a decline of 12.2% from a year ago. Operating profit before exceptional items decreased to 1.73 billion euros from 2.05 billion euros, prior year. The company said its operating profit before exceptional items decreased as revenue growth was not sufficient to offset the impact of disruption and high fuel prices. Operating margin before exceptional items was 17.7%, for the quarter. Revenue in the third quarter increased by 4.5% to 9.74 billion euros. Passenger revenue increased by 3.8%, while Cargo revenue increased by 3.9%.
For the nine month period, operating profit before exceptional items was 3.48 billion euros, a decline of 11.4% from a year ago. Adjusted earnings per share, in cents was 50.4 compared to 55.5. Operating margin before exceptional items for the first nine months was 13.5%, 2.1 points lower than 2025. Total revenue before exceptional items was at 25.81 billion euros, up 2.3% from previous year.
IAG now projects full year capacity to be slightly down compared to 2025. The company noted that it is on track to deliver another year of world-class operating margins, profits, free cash flow and shareholder returns.
Luis Gallego, IAG CEO, said: 'As a result of the actions we are taking the outlook for the rest of the year, as well as the start of next year, is positive. We are on track to deliver a full year operating margin before exceptional items of at least 12%, within our through-the-cycle target range, and to deliver further returns to shareholders.'
At prior close on LSE, IAG shares were trading at 449.09 pence.
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