IAG shares slide nearly 10% amid signs of weak U.S. market
Shares of British Airways parent company IAG fell almost 10% on Friday after the airline group flagged softness in the U.S. economy market, even as its third-quarter profit met expectations.
IAG reported an operating profit of 2.05 billion euros ($2.4 billion) for the three months ending September 30, broadly in line with forecasts. Revenue was flat at 9.33 billion euros, News.Az reports, citing Reuters.
The group — which also owns Iberia, Vueling, and Aer Lingus — said its passenger load factor declined across all regions, led by a 2.4-point drop on North Atlantic routes. Passenger unit revenue fell 7.1% for the North Atlantic and 2.4% overall.
CEO Luis Gallego downplayed concerns about ongoing weakness, noting that IAG had already booked 30% of tickets for the first quarter of 2026.
IAG shares tumbled to 373.7 pence, wiping out around £1.9 billion ($2.5 billion) in market value and marking their steepest one-day fall since early 2022.
Despite the drop, the stock remains up nearly 40% year-to-date, outperforming rivals Air France and Lufthansa, which have gained 25% and 21%, respectively.
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