UBS has recommended a neutral stance on International Consolidated Airlines Group, S.A. (IAG), a prominent European airline.

In 2023, IAG reported that 115.6 million passengers were transported, with passenger transport contributing to 87.6% of its sales. The airline also generates revenue from freight transport, which accounts for 3.9%, and other services such as maintenance and handling, which make up 8.3%. By the end of 2023, IAG is expected to have a fleet of 582 aircraft.

In terms of sales distribution, the United Kingdom is the largest contributor at 34.6%, followed by Spain at 17.8%, the United States at 17.2%, and other regions accounting for 30.4%.