British Airways owner issues profit warning over soaring jet fuel costs
International Airlines Group expects to spend £1.7bn more on fuel than planned since US-Israeli attack on Iran Business news – live updates The parent company of British Airways has issued a profit warning and said it expects to spend about €2bn (£1.72bn) more on fuel than planned this year due to the Iran war. International Airlines Group (IAG), which also owns Aer Lingus, Iberia and Vueling, said it has hedged 70% of its expected fuel use for this year with costs expected to be about €9bn, up
Owner IAG expects to recover 60% of additional fuel bill caused by Iran war through ‘revenue and cost management’
Business news – live updates
British Airways fares will rise to try to recoup most of a €2bn (£1.7bn) hit in fuel costs this year, its parent group has said, adding that the Iran war will dent profits.
The International Airlines Group (IAG) said its annual fuel bill was now expected to be about €9bn, up from the forecast €7.1bn, as 70% of its supply was hedged, shielding it from the full impact of soaring jet fuel prices since the start of the conflict.
Coverage from 3 sources
- British Airways owner issues profit warning over soaring jet fuel costsGuardian - World · Mark Sweney · May 8, 2026, 8:10 AM
- British Airways owner warns of lower profits over soaring jet fuel costsGuardian - World · Mark Sweney · May 8, 2026, 8:10 AM
- British Airways fares to rise in attempt to offset £1.7bn fuel cost hitGuardian - World · Mark Sweney and Gwyn Topham · May 8, 2026, 11:52 AM
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