International Consolidated Airlines Group will start the final €500 million stage of its share buyback programme on 5 October, completing the €1.5 billion excess-cash return plan it set out in February. The owner of British Airways, Iberia and Aer Lingus will run the repurchase until no later than 26 February 2027, with up to 210 million ordinary shares targeted, equivalent to about 4.55% of its issued capital.
Of the total, €374 million is earmarked for purchases from market participants and €126 million for shares from Qatar Airways, which will participate pro rata to preserve its stake. Morgan Stanley Europe and Goldman Sachs Bank Europe will execute the programme in sequential tranches, trading independently within agreed parameters.
Shares bought back are expected to be cancelled under a capital reduction approved by shareholders at the 18 June annual general meeting. The final tranche follows completion of the second €500 million repurchase on 10 September, leaving IAG to finish the cash return plan it outlined earlier this year.