International Consolidated Airlines Group (IAG) Today: Share Price, €1bn Buyback, Iberia Cyberattack and TAP Bid

British Airways owner IAG enters a crucial week for shareholders as its €1bn buyback wraps up, a new dividend goes ex‑date, and subsidiary Iberia confronts a high‑profile data breach that’s put aviation cybersecurity under the spotlight.

IAG share price on 26 November 2025

International Consolidated Airlines Group S.A. (LON: IAG) heads into Wednesday trading just below recent highs after a powerful 12‑month rally.

Last close (25 Nov 2025): 391.20p in London ^[1]
Intraday quote today: around 389.20p on IAG’s own investor webpage ^[2]
52‑week range: 210.00p – 429.30p ^[3]
Market capitalisation: ~£17.9bn (about €20bn) ^[4]
12‑month performance: roughly +51%, according to Alliance News data cited by Shares Magazine ^[5]

Technical analysts at StockInvest note that IAG is trading in the middle of a wide, rising short‑term trend. Their models see a typical intraday range today between about 385p and 397p, and classify the stock as a “hold/accumulate” rather than a screaming buy at current levels. ^[6]

For investors, today’s price action sits at the crossroads of three big themes: capital returns, cybersecurity headlines and consolidation in European aviation.

Capital returns: €1bn share buyback now complete

The headline for equity holders this week is that IAG has finished its €1 billion share buyback programme, originally announced back in February alongside its strong 2024 results. ^[7]

A regulatory filing on 24 November confirmed:

The second €500m tranche of the programme was completed after the last purchases on 21 November 2025. ^[8]
Across both tranches, IAG repurchased 263,600,174 ordinary shares, equal to about 5.58% of its issued share capital. ^[9]
The first‑tranche shares (3.13% of capital) have already been cancelled; the second‑tranche shares (2.44%) will be cancelled “in due course”, further shrinking the equity base. ^[10]

Alliance News summarised it bluntly: IAG has bought back 5.6% of its total shares, with the repurchased stock being cancelled. ^[11]

From a shareholder perspective, that’s a material reduction in share count, mechanically boosting earnings per share and future dividend capacity if profits hold up.

Interim dividend ex‑date is tomorrow

Alongside the buyback, IAG has restarted a more “normal” dividend policy.

On 6 November, the board declared a gross interim dividend of €0.048 per share (about 4.23p) against the 2025 financial year. ^[12]

Key details from the company’s RNS:

Ex‑dividend date:27 November 2025 (Thursday) ^[13]
Record date: 28 November 2025 ^[14]
Payment date: from 1 December 2025 ^[15]
Withholding tax: 19%, leaving a net dividend of €0.0389 per share for most shareholders. ^[16]

StockInvest calculates the payment at 4.23p per share, implying a yield of a little over 1% on the current price, and flags tomorrow as the ex‑dividend date. ^[17]

The board has also signalled that:

The total 2025 dividend should rise in line with inflation versus 2024. ^[18]
Roughly 50% of the annual dividend will be paid as an interim after Q3 results, returning to IAG’s pre‑Covid pattern. ^[19]
Management intends to announce additional shareholder returns at full‑year results in February 2026. ^[20]

Put together, the €1bn buyback plus rising dividend underline how far IAG’s balance sheet has healed since the pandemic and how aggressively it is now returning cash.

Solid Q3 2025 results – but transatlantic softness

IAG’s latest numbers, released on 7 November, showed another profitable quarter but also some early cracks in transatlantic demand.

According to Reuters and IAG’s own Q3 presentation:

Q3 operating profit:€2.05bn, up around 2% year‑on‑year, with an operating margin near 22%. ^[21]
Q3 revenue: €9.33bn, broadly flat versus last year. ^[22]
For the nine months to 30 September 2025, operating profit reached €3.93bn, an 18% increase, with adjusted EPS up 27%. ^[23]
Net leverage has dropped to around 0.8x, giving the group considerable flexibility for buybacks, dividends and deals. ^[24]

The less‑rosy side of the update was the demand mix:

IAG flagged softness in U.S. economy‑class leisure traffic, especially on North Atlantic routes. ^[25]
Passenger load factor fell in all regions, with a drop of about 2.4 percentage points on the North Atlantic. ^[26]
Passenger unit revenue on those routes fell more than 7%, amid a wider 2–3% decline across the group. ^[27]

That combination – strong profits but hints of North Atlantic fatigue – initially sent IAG shares down almost 10% in a single session, their worst fall since early 2022. ^[28]

However, the stock has since recovered to trade above those post‑result lows, helped by the rich capital‑return story and a generally supportive analyst backdrop.

Cybersecurity in focus after Iberia data breach

The biggest new risk headline around the group doesn’t come from fuel prices or demand – it comes from cybersecurity.

What happened?

Over the past few days, IAG subsidiary Iberia – Spain’s flag carrier – has been forced to admit it was hit by a significant data breach linked to a third‑party supplier. ^[29]

Key points from multiple cybersecurity reports and Iberia’s own statements:

The breach stems from unauthorised access to a vendor’s systems that support Iberia. ^[30]
Exposed data includes customers’ full names, email addresses and Iberia Plus loyalty card numbers, but the airline says passwords and payment details were not compromised. ^[31]
A threat actor claims to have stolen around 77GB of Iberia data, and the Everest ransomware group has since boasted of taking as much as hundreds of gigabytes from both Iberia and loyalty programme Air Miles España. ^[32]
Iberia says it has activated its security protocol, notified law‑enforcement and data‑protection regulators, and is urging customers to be alert to phishing attempts. ^[33]

Travel trade and tech outlets have framed the incident as “another day, another airline cyberattack” – a sign that aviation is increasingly in hackers’ crosshairs. ^[34]

What it means for IAG

So far there is no suggestion that flight safety or core operational systems have been affected, and the incident appears limited to customer data. ^[35]

However, for IAG at group level the breach raises several issues:

Regulatory risk: Under EU and UK data‑protection rules, serious breaches can attract significant fines and mandatory remediation measures.
Reputational risk: Iberia is one of IAG’s premium brands; trust is critical in loyalty schemes such as Iberia Plus and, by extension, IAG Loyalty.
Cost and investment: The episode will likely accelerate spending on cybersecurity, vendor risk management and resilience, not just at Iberia but across the group.

Investors will be watching for any update on potential financial impact when IAG next speaks to the market.

IAG joins the race for TAP – and Europe’s skies consolidate further

On 21 November, IAG confirmed that it has submitted a formal expression of interest in buying a minority stake in Portugal’s national airline TAP. ^[36]

According to Reuters and Investing.com:

Portugal is relaunching TAP’s long‑delayed privatisation, seeking a buyer for 44.9% of the airline plus an extra 5% reserved for employees. ^[37]
IAG is the third major airline group to step forward, alongside Air France‑KLM and Lufthansa, underscoring how strategic TAP’s Lisbon hub and its Brazil/Africa connections are. ^[38]
IAG says TAP has “significant potential” within its decentralised model, but stresses that several terms would need to be addressed before it commits capital. ^[39]

Analysts note a potential tension: TAP’s Lisbon hub sits close to Iberia’s Madrid base, raising fears in Portugal that routes could one day be shifted away from Lisbon if IAG gained influence. ^[40]

For IAG, the interest in TAP fits a broader narrative:

Leverage is low, and the group has balance‑sheet capacity for deals as well as buybacks. ^[41]
Lisbon offers strong connectivity to Brazil and Lusophone Africa, markets that would complement IAG’s existing strengths out of Madrid and London. ^[42]

UK retail‑investor commentary today is already speculating that this bid – or even the attempt – could have “big implications for the IAG share price”, either by securing valuable new traffic flows or by signalling management’s confidence in long‑term growth. ^[43]

Operations and demand: cargo growth and labour risks

IAG Cargo’s winter 2025/26 expansion

Beyond passenger demand, cargo remains an important earnings driver for IAG.

For the winter 2025/26 season (26 October 2025 to 31 March 2026), IAG Cargo has rolled out an expanded schedule that leverages the belly‑hold capacity of its passenger airlines: ^[44]

Over 600 weekly wide‑body flights from London, more than 80 from Dublin, and around 240 from Madrid and Barcelona.
Additional or resumed capacity on routes linking London Heathrow with Cape Town, Abu Dhabi, Bahrain, Bangkok, Dallas and Miami, among others.
Strengthened long‑haul links from Madrid to destinations such as Orlando, Santiago de Chile and Santo Domingo, and from Barcelona to Buenos Aires and Santiago.

The cargo division has also opened applications for a 2026 graduate programme, signalling continued investment in talent and long‑term growth. ^[45]

Labour backdrop: Portugal’s December strike

A separate operational risk on the horizon is a nationwide general strike in Portugal planned for 11 December 2025, which authorities say is likely to cause widespread flight cancellations, especially at TAP. ^[46]

While TAP is the focal point, any prolonged disruption of Portuguese airspace could spill over to competitors, including IAG’s Iberia and Vueling on Iberian routes, depending on how air‑traffic control and airport services are affected.

What analysts are saying about IAG stock

Street view: broadly positive

Recent round‑ups of broker research show a largely constructive stance on IAG:

A DirectorsTalk analysis reports 12 Buy, 3 Hold and 1 Sell ratings, with target prices between roughly 350p and 630p and an average around 465p – implying more than 20% upside versus current levels at the time of writing. ^[47]
The same piece notes an estimated dividend yield near 2.5% on a low payout ratio, leaving room for further increases if profits grow. ^[48]

Simply Wall St highlights that several analysts have raised their IAG price targets in recent days, with some now projecting up to 620p, citing expectations of improved margins and resilient revenue. ^[49]

On 26 November, brokerage Bernstein reiterated its Buy/Outperform rating on IAG with a 475p price target, according to MarketScreener’s summary of the note. ^[50]

Technicals: short‑term caution

From a chartist’s standpoint, StockInvest:

Classifies IAG as a “hold/accumulate” with medium risk,
Flags mixed moving‑average signals and a sell signal from the 3‑month MACD,
And warns that the share is approaching resistance near 400p, with support around 381p. ^[51]

In other words, the Street broadly likes the medium‑term story, but the stock is no longer the deep value play it was in 2022–23, and short‑term volatility remains a factor.

Key upcoming dates for IAG investors

27 November 2025: Ex‑dividend date for the €0.048 interim dividend (4.23p). ^[52]
28 November 2025: Dividend record date. ^[53]
From 1 December 2025: Interim dividend payment begins. ^[54]
11 December 2025: Portugal general strike, with expected flight cancellations – primarily TAP, but potentially affecting other carriers. ^[55]
26 February 2026: Expected date of IAG’s Full‑Year 2025 results, per StockInvest’s company calendar. ^[56]

Bottom line: a powerful recovery story with new risks attaching

As of 26 November 2025, IAG finds itself in an intriguing position:

Financially, it’s in robust health – generating multi‑billion‑euro profits, restoring dividends and completing a €1bn buyback that has cut the share count by over 5.5%. ^[57]
Strategically, it’s on the offensive, pursuing TAP and expanding its cargo and long‑haul footprint. ^[58]
But reputationally, it’s facing a serious cybersecurity test at Iberia that could lead to regulatory scrutiny and extra costs, even if operations remain unaffected. ^[59]

For shareholders, the investment case now hinges on whether:

Demand in North America stabilises, keeping transatlantic routes profitable despite recent softness; ^[60]
Management executes cleanly on TAP (or walks away on disciplined terms); and
Cyber and operational risks like the Iberia breach and looming strikes can be contained without eroding the trust and cash flows that underpin those generous capital returns.

Nothing in this article is personal investment advice, but for anyone tracking IAG, BA, Iberia or the wider FTSE 100 travel sector, this week’s combination of ex‑dividend trading, a completed buyback and headline‑grabbing security news makes 26 November 2025 a date worth circling.