The International Consolidated Airlines Group (IAG) has reported a full year 2024 net profit of €2.73 billion or €0.56 per share on a 9.0 percent year-over -year increase in revenue to €32.1 billion.
On Friday (February 28, 2025), IAG reported their fourth quarter and full year financial results for the period ending December 31, 2024. The Group reported a full year 2024 net profit of €2.73 billion or €0.56 per share on a 9.0 percent year-over-year increase in revenue to €32.1 billion. At the end of 2024, IAG had total liquidity of €13.4 billion, including cash, cash equivalents and interest-bearing deposits, as well as committed and undrawn general and aircraft-specific financing facilities.
In Friday’s announcement, IAG’s Chief Executive Officer, Luis Gallego, said,
“These results highlight the quality of our businesses and effectiveness of our strategy, underpinned by the successful execution of our transformation programme across the Group. We are delivering world-class margins and returns, in line with the targets we set out to the market just over a year ago.
“We are focused on continuing to make our brands the first choice for customers, by growing our network and enhancing the customer proposition, while our disciplined capital allocation ensures we can continue to invest in the business, deliver strong financial results and create sustainable value for our shareholders.
“We are particularly pleased to announce that IAG is proposing a final dividend which takes our total dividend for the year to €435 million and intend to return up to a further €1 billion of excess capital to shareholders in up to 12 months.
“This performance would not have been possible without the hard work and dedication of our people, who continue to drive our Group-wide transformation.”
During 2024, Aer Lingus restarted service between Dublin and Minneapolis, and added new service to Denver and Las Vegas. At the end of the year, the carrier introduced the Airbus A321XLR to their fleet, which was deployed on routes to Washington, Boston and Toronto. For 2025, the carrier will also launch A321XLR service to nee destinations, including Nashville and Indianapolis, as the aircraft allows profitable point-to-point access to secondary North American cities.
British Airways broadened their network in 2024 with additional frequencies to San Diego and new service to Cincinnati. The carrier also increased frequencies to Rio de Janeiro and Buenos Aires to daily, while larger aircraft were deployed to São Paolo. Flights to Barbados were also consolidated at London Heathrow, to allow premium capacity growth from winter. For 2025, the carrier will add frequencies across their network, with added service to Washington, Austin, Las Vegas and Vancouver. Flights to Pittsburgh will operate daily, while BA will be the only carrier offering a First Class cabin across the Atlantic from London.
Iberia increased frequencies to Los Angeles in 2024, while consolidating Dallas and Washington routes. The Spanish airline is now the leader in Europe to Latin America. In 2024, Iberia increased frequencies to Buenos Aires, São Paulo, Santiago de Chile and Santo Domingo as well as to Puerto Rico and Rio de Janeiro. For 2025, the carrier will further add frequencies to Buenos Aires, São Paolo, and Lima. Iberia was the first delivery customer for the Airbus A321XLR, which is currently serving Boston and Washington. For 2025, Iberia will continue to develop new A321XLR routes to North America.
LEVEL launched year-round nonstop service between Barcelona and Miami in 2024, and increased to daily the frequencies to Los Angeles and Boston. During 2024, the carrier also increased capacity to Santiago de Chile, and doubled their Premium Economy offering to Latin America. In 2025, LEVEL extended service between Barcelona and Santiago to year-round.
Vueling is reinforcing their position in Barcelona and domestic Spain, and is a leader in select European flows such as Paris to Spain. The carrier is also investing in London Gatwick to Spain, leveraging their recent position in London Heathrow. During 2024, the carrier added year-round services to Heathrow and Istanbul, along with winter seasonal service to destinations such as Tromsø, as well as summer destinations such as Comiso. In 2025, Vueling will receive additional aircraft that will be deployed to Barcelona and regional domestic bases, and will fly new routes to Italy, Morocco, Montenegro and Albania.
The International Consolidated Airlines Group (IAG) is one of the world’s leading airline groups and has a combined fleet of nearly 600 aircraft. The Group’s airlines include Aer Lingus, British Airways, Iberia, Level and Vueling. The company’s other subsidiaries include IAG Loyalty, IAG Cargo, and IAG Global Business Services (GBS).
Source: International Airlines Group (IAG) / RNS Number: 7988Y