IAG lowers capacity and spending plans as fuel costs rise
British Airways owner IAG lowered its full-year capacity outlook to slightly below 2025 levels and cut planned capital expenditure to €3.1 billion from €3.4 billion as it trims routes amid rising fuel costs. The group raised its fuel-cost forecast to €8.9 billion but maintained its operating-margin outlook of 12%–15%. Third-quarter operating profit before exceptional items fell 16% to €1.73 billion, below the €1.81 billion analyst consensus supplied by the company.