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Our pillars

A proven history of multi-decade GDP+ demand growth, driven by tourism, visiting friends and relatives, and economic development

  • Unique model drives disciplined capital allocation and leading performance
  • Significant position in three of the world’s most attractive aviation
    markets
  • Leading brands at our hubs
  • Rewarding customers through
    world-class loyalty programmes

Transformation and innovation to deliver 12%-15% margin targets:

  • Transforming British Airways
  • Developing our Spanish businesses
  • Capital-light, high-margin growth at IAG Loyalty (including our holidays businesses)


Investment and scale to deliver sustainable long-term market-leading returns.

  • Significant free cash flow generation
  • Sustainable dividends
  • Excess cash returns to shareholders