International Consolidated Airlines Group S.A. (IAG) is one of the world's largest airline holding companies, formed in 2011 through the merger of British Airways and Iberia. The company operates a diversified portfolio of airline brands, including full-service carriers British Airways, Iberia, and Aer Lingus, as well as low-cost operators Vueling and LEVEL. IAG's business model centers on providing passenger and cargo air transportation services across a global network, serving over 300 destinations with a fleet of more than 530 aircraft.
The vast majority of IAG's revenue is generated from passenger operations. In 2023, passenger revenue accounted for approximately 87.6% of total revenue (€25.8 billion out of €29.4 billion), while cargo operations contributed around 3.9% (€1.1 billion), and other ancillary services, including the IAG Loyalty program (Avios) and British Airways Holidays, made up the remaining 8.4%. Geographically, the company holds a strong competitive position in the North Atlantic market through British Airways and Aer Lingus, and in the South Atlantic market through Iberia. Its low-cost subsidiaries, Vueling and LEVEL, provide extensive intra-European connectivity and long-haul budget options, respectively.
IAG's multi-brand strategy allows it to capture various segments of the aviation market, from premium business travel to budget leisure flights. The group structure enables the individual airlines to maintain their distinct brand identities and local market presence while achieving cost synergies through centralized procurement, fleet management, and a unified loyalty program.
