Loyalty, Latin America, and Premium Leisure: What to Watch in IAG’s Annual Results

International Airlines Group spent more than a decade refining a model built on hub geography and disciplined capital allocation. Making its airlines earn the right to expand has created internal competition – but it’s also produced one of aviation’s most reliable profit engines. 

On Friday, IAG is expected to deliver another strong set of annual results for 2025 – but what matters more is what comes next.

Commentary from IAG will serve as a barometer for the broader European travel economy as the all-important summer season approaches. Here are five key areas that Skift will be watching:

1. The Atlantic Advantage

Geography remains one of IAG’s greatest strengths. Its hubs in London, Madrid, and Dublin sit perfectly positioned for traffic flows between Europe and the Americas, concentrating many of the group’s most profitable routes across the Atlantic.

The parent company of British Airways, Iberia, Aer Lingus, and Vueling oft