IAG Loyalty's Growth Target Appears Achievable -- Market Talk

Dow Jones06-04

0905 GMT - IAG Loyalty, the rewards division of International Airlines Group, aims to grow its medium-term earnings before interest and taxes to 1 billion euros ($1.16 billion) by 2030, which looks broadly achievable considering the consistent 16% annual growth rate since 2019, Citi's Conor Dwyer says in a research note. Citi estimates that if the loyalty business achieves this growth and continues to expand at a healthy rate, it could be worth between 10.5 billion and 13 billion euros by 2026. This would represent around 40% to 50% of IAG's total enterprise value, Dwyer adds. The rest of IAG's airline operations then appear undervalued, especially considering the ability to deliver double-digit profit margins through industry challenges, the analyst adds. Shares trade 1.3% higher at 425.6 pence. (nina.kienle@wsj.com)

(END) Dow Jones Newswires

June 04, 2026 05:06 ET (09:06 GMT)

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This would represent around 40% to 50% of IAG's total enterprise value, Dwyer adds. The rest of IAG's airline operations then appear undervalued, especially considering the ability to deliver double-digit profit margins through industry challenges, the analyst adds. Shares trade 1.3% higher at 425.6 pence. 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Citi estimates that if the loyalty business achieves this growth and continues to expand at a healthy rate, it could be worth between 10.5 billion and 13 billion euros by 2026. This would represent around 40% to 50% of IAG's total enterprise value, Dwyer adds. The rest of IAG's airline operations then appear undervalued, especially considering the ability to deliver double-digit profit margins through industry challenges, the analyst adds. Shares trade 1.3% higher at 425.6 pence. 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Citi estimates that if the loyalty business achieves this growth and continues to expand at a healthy rate, it could be worth between 10.5 billion and 13 billion euros by 2026. This would represent around 40% to 50% of IAG's total enterprise value, Dwyer adds. The rest of IAG's airline operations then appear undervalued, especially considering the ability to deliver double-digit profit margins through industry challenges, the analyst adds. Shares trade 1.3% higher at 425.6 pence. 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