London, January 9, 2026, 11:27 GMT — Regular session
- IAG shares slide after naming British Airways finance chief Jose Antonio Barrionuevo as incoming CFO
- Nicholas Cadbury to step down in June; transition flagged as planned succession
- Next focus turns to IAG’s full-year results due February 27
International Consolidated Airlines Group (IAG) shares fell on Friday after the British Airways owner named Jose Antonio Barrionuevo as its next chief financial officer, a shift that lands as the airline group grapples with weaker performance in its U.S. markets. The stock was down 1.3% at 430 pence by 1127 GMT. 1
Top jobs do not always move an airline stock on their own. But the CFO sits close to what investors fixate on: cash, debt, fuel hedging and how quickly airlines can hand money back through buybacks and dividends without stretching the balance sheet.
The timing also collides with the run-up to IAG’s full-year results on Feb. 27, when investors will look for fresh numbers on capacity, pricing and what management thinks it can earn in 2026. IAG has a first-quarter update pencilled in for May 8. 2
Cadbury will leave the group in June, and IAG said the change was part of its succession planning. Chief executive Luis Gallego said Cadbury helped IAG “build back its balance sheet and profitability,” while Barrionuevo said the group was “well-positioned” for “industry-leading profitability,” and Cadbury said he would step down to seek “new and varied challenges outside IAG” after supporting the handover. 3
Barrionuevo joined British Airways in July 2023 and leads its “transformation and investment programme,” the airline’s media centre says. He has held senior roles inside IAG’s Iberia business and previously worked at JPMorgan and McKinsey. 4
The broader tone in London was steadier, with the FTSE 100 up 0.4%, helped by a jump in Glencore on talk of early-stage merger discussions with Rio Tinto. That left IAG moving on its own news as miners and energy stocks did most of the lifting. 5
Oil prices rose for a second session, with Brent up 0.7% at $62.39 a barrel on concerns about potential supply disruptions in Venezuela and Iran. Airlines watch crude closely because jet fuel is a major cost, and higher prices can pinch margins fast if fares do not keep pace. 6
Still, the drop could prove brief if investors treat the CFO switch as housekeeping and focus on what comes next: demand into the spring and whether costs stay under control. The obvious risk is that fuel stays firm or the U.S. weakness drags on, setting up a tougher set of numbers when the group next reports.
The next hard catalyst is Feb. 27, when IAG reports full-year 2025 results and updates targets for 2026.
