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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
61% of retail CFD accounts lose money. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more at https://etoro.tw/44JRWLY
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
61% of retail CFD accounts lose money. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more at https://etoro.tw/44JRWLY
CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
61% of retail CFD accounts lose money. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more at https://etoro.tw/44JRWLY
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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IAG Holds Margin Guidance as Fuel Bites
IAG's third-quarter revenue rose 4.5% on strong transatlantic pricing, but fuel and disruption squeezed the operating margin to 17.7%. Full-year guidance held, and the shares were lower in early trade.
International Consolidated Airlines Group (LSE: IAG), parent of British Airways, Iberia, Vueling and Aer Lingus, reported third-quarter revenue up 4.5% to €9,744m, with the operating margin down to 17.7%. The shares were down about 2.2% in early trade on Friday.
At 08:06 London time the shares stood at 417.7p, 9.5p below yesterday’s close of 427.2p, within an intraday range so far of 411.2p to 418.7p. That is 0.8% up for the year but 15.3% below the 52-week high of 492.9p.
IAG.LSE
Demand carried the top line. Passenger revenue per available seat kilometre, a measure of revenue earned per unit of capacity, rose 4.1%, led by North Atlantic unit revenue, which jumped 11.0%. Europe unit revenue rose 2.3%.
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Profit fell, though. Operating profit before exceptional items, which strips out one-offs, dropped 15.9% to €1,726m. Fuel cost rose 30.4% after hedging, and non-fuel unit cost rose 3.4% on air traffic control outages and other disruption.
€m
Q3 2026
Q3 2025
Revenue
9,744
9,328
Operating profit before exceptionals
1,726
2,053
Operating margin
17.7%
22.0%
Profit after tax
1,231
1,402
The operating margin lost 4.3 points even as revenue grew, and profit after tax fell 12.2%.
IAG’s share price drifted from around 440p in August to 427.2p at the 5 November close, with a dip below 400p in late October (daily closes to 5 November; results were published on 6 November)
The balance sheet is steady. Net debt was 0.6 times EBITDA, and the interim dividend rose 10% to €0.053 a share. The final €500m tranche of the €1.5bn buyback has started and is due to finish by the end of February 2027.
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Chief Executive Luis Gallego said: “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.” That sits at the bottom of the 12% to 15% range.
The detail is mixed. Some 85% of expected fourth-quarter bookings are secured and early 2027 bookings are strong. But the full-year fuel bill is €8.9bn, capacity is slightly down, and 12 aircraft deliveries are expected this year, not 16.
The AskTraders Analyst Team features experts in technical and fundamental analysis, as well as traders specializing in stocks, forex, and cryptocurrency.
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