IAG Launches Final EUR 500 Million Share Buyback Program

IAG launched a final EUR 500 million share buyback program on October 5, completing its previously announced EUR 1.5 billion excess-cash return plan. The program may acquire up to 210 million ordinary shares.

International Consolidated Airlines Group, known as IAG, launched the final tranche of its previously announced excess-cash return program on October 5, 2026. The EUR 500 million buyback completes the EUR 1.5 billion return announced in February, according to the company’s RNS announcement dated October 2, 2026.

Buyback terms

The program can acquire up to 210 million ordinary shares, representing approximately 4.55 percent of IAG’s issued share capital as of October 2, 2026. Up to EUR 374.283 million is allocated to purchases from market participants, while EUR 126 million is allocated to purchases from Qatar Airways. The purchases will take place on the London Stock Exchange and Spanish stock exchanges, as detailed in the RNS filing.

Planned completion

Morgan Stanley Europe SE and Goldman Sachs Bank Europe SE are implementing the program in sequential portions and will make trading decisions independently within agreed parameters. IAG said the program is expected to end no later than February 26, 2027, unless terminated earlier under specified circumstances. Shares acquired under the program are intended to be held in treasury pending proposed cancellation under a capital reduction approved at the company’s June 18, 2026, annual general meeting, according to the company announcement.