ANA vs International Consolidated Airlines Group S.A: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

ANA Holdings Inc. (9202.JP)

Q3 202630 Jul – 24 Sep 2026

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ANA's profit squeezed by fuel costs; schedule pact and safety probe shape outlook

Fuel costs crush quarterly profit despite record revenue ANA's April–June revenue hit a record 672.7 billion yen, up 22.6%, but operating profit fell 43.5% to 20.7 billion yen as fuel costs and taxes jumped 86.9 billion yen. The full-year forecast and a dividend cut to 60 yen were kept unchanged, so the profit squeeze is the main drag on the shares.
This is the period's core earnings event and the biggest force pushing 9202.JP down.
Fuel surcharges falling as jet fuel prices ease ANA and JAL will cut international fuel surcharges to about 50,000–55,000 yen for September–October tickets, down from a record 65,000 yen, because jet fuel prices have fallen. Lower surcharges trim revenue per ticket, but cheaper fuel eases the cost pressure that crushed profits, so the net effect is mixed.
It shows the fuel-cost swing working in both directions on ANA's revenue and margins.
First-ever schedule coordination with JAL on domestic routes ANA and rival JAL will coordinate Haneda–Okayama departure times from late October, avoiding overlaps to lift load factors on money-losing domestic routes. Regulators signalled this does not break antitrust rules, opening the door to similar cooperation elsewhere and improving domestic profitability.
It is a new structural change that could improve ANA's weakest business, domestic routes.
Naha emergency evacuation classified a serious incident An ANA Boeing 737-800 turned back to Naha with engine trouble and passengers evacuated by slide; three people had minor injuries. Regulators classified it a serious incident and are investigating. Such events can bring scrutiny, repair costs and reputational risk, weighing on sentiment even if operations continue normally.
It is the period's newest safety event and a fresh risk to ANA's reputation and regulatory standing.

August 202630 Jul – 24 Sep 2026

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ANA's profit squeezed by fuel costs; schedule pact and safety probe shape outlook

Fuel costs crush quarterly profit despite record revenue ANA's April–June revenue hit a record 672.7 billion yen, up 22.6%, but operating profit fell 43.5% to 20.7 billion yen as fuel costs and taxes jumped 86.9 billion yen. The full-year forecast and a dividend cut to 60 yen were kept unchanged, so the profit squeeze is the main drag on the shares.
This is the period's core earnings event and the biggest force pushing 9202.JP down.
Fuel surcharges falling as jet fuel prices ease ANA and JAL will cut international fuel surcharges to about 50,000–55,000 yen for September–October tickets, down from a record 65,000 yen, because jet fuel prices have fallen. Lower surcharges trim revenue per ticket, but cheaper fuel eases the cost pressure that crushed profits, so the net effect is mixed.
It shows the fuel-cost swing working in both directions on ANA's revenue and margins.
First-ever schedule coordination with JAL on domestic routes ANA and rival JAL will coordinate Haneda–Okayama departure times from late October, avoiding overlaps to lift load factors on money-losing domestic routes. Regulators signalled this does not break antitrust rules, opening the door to similar cooperation elsewhere and improving domestic profitability.
It is a new structural change that could improve ANA's weakest business, domestic routes.
Naha emergency evacuation classified a serious incident An ANA Boeing 737-800 turned back to Naha with engine trouble and passengers evacuated by slide; three people had minor injuries. Regulators classified it a serious incident and are investigating. Such events can bring scrutiny, repair costs and reputational risk, weighing on sentiment even if operations continue normally.
It is the period's newest safety event and a fresh risk to ANA's reputation and regulatory standing.

Latest30 Jul – 24 Sep 2026

▼2▲1

ANA's profit squeezed by fuel costs; schedule pact and safety probe shape outlook

Fuel costs crush quarterly profit despite record revenue ANA's April–June revenue hit a record 672.7 billion yen, up 22.6%, but operating profit fell 43.5% to 20.7 billion yen as fuel costs and taxes jumped 86.9 billion yen. The full-year forecast and a dividend cut to 60 yen were kept unchanged, so the profit squeeze is the main drag on the shares.
This is the period's core earnings event and the biggest force pushing 9202.JP down.
Fuel surcharges falling as jet fuel prices ease ANA and JAL will cut international fuel surcharges to about 50,000–55,000 yen for September–October tickets, down from a record 65,000 yen, because jet fuel prices have fallen. Lower surcharges trim revenue per ticket, but cheaper fuel eases the cost pressure that crushed profits, so the net effect is mixed.
It shows the fuel-cost swing working in both directions on ANA's revenue and margins.
First-ever schedule coordination with JAL on domestic routes ANA and rival JAL will coordinate Haneda–Okayama departure times from late October, avoiding overlaps to lift load factors on money-losing domestic routes. Regulators signalled this does not break antitrust rules, opening the door to similar cooperation elsewhere and improving domestic profitability.
It is a new structural change that could improve ANA's weakest business, domestic routes.
Naha emergency evacuation classified a serious incident An ANA Boeing 737-800 turned back to Naha with engine trouble and passengers evacuated by slide; three people had minor injuries. Regulators classified it a serious incident and are investigating. Such events can bring scrutiny, repair costs and reputational risk, weighing on sentiment even if operations continue normally.
It is the period's newest safety event and a fresh risk to ANA's reputation and regulatory standing.

International Consolidated Airlines Group S.A (IAG.LSE)

Q3 202620 Jul – 9 Oct 2026

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IAG hit by fuel costs and capacity cut, but stays Barclays' top pick

Fuel and emissions costs crush Q2 profit IAG's second-quarter pre-tax profit fell more than a third to €995m as fuel and emissions charges jumped 23% (€413m) on Middle East conflict. Revenue held at €8.9bn, but higher costs squeeze earnings, weighing on the shares.
This is the single biggest new financial event for IAG this period, directly explaining the profit drop.
IAG cuts 2026 capacity guidance IAG lowered its 2026 capacity plans, meaning it will fly fewer seats than previously expected. Less supply can support fares, but the cut signals weaker growth and pushed the shares down 1.5% on the day.
A fresh guidance cut is a key driver of the stock's direction and future earnings expectations.
Loyalty unit shines, but group margin slips IAG Loyalty's operating profit rose £48m to £239m, a bright spot. But group operating profit fell €121m year-on-year to €1.757bn and margin slipped to 10.9%, while net debt improved to €4.7bn. Overall a mixed update.
It shows the underlying profit trend and a strong sub-business, giving a fair picture beyond the headline drop.
Barclays names IAG preferred major airline Barclays downgraded Ryanair and Norwegian on high fuel costs, but kept IAG as its preferred major airline with an Overweight rating. That analyst support can lift IAG shares relative to weaker rivals, even as fuel pressures the whole sector.
It is a new, positive analyst call that directly affects how investors view IAG versus peers.

August 202620 Jul – 9 Oct 2026

▼2▲1

IAG hit by fuel costs and capacity cut, but stays Barclays' top pick

Fuel and emissions costs crush Q2 profit IAG's second-quarter pre-tax profit fell more than a third to €995m as fuel and emissions charges jumped 23% (€413m) on Middle East conflict. Revenue held at €8.9bn, but higher costs squeeze earnings, weighing on the shares.
This is the single biggest new financial event for IAG this period, directly explaining the profit drop.
IAG cuts 2026 capacity guidance IAG lowered its 2026 capacity plans, meaning it will fly fewer seats than previously expected. Less supply can support fares, but the cut signals weaker growth and pushed the shares down 1.5% on the day.
A fresh guidance cut is a key driver of the stock's direction and future earnings expectations.
Loyalty unit shines, but group margin slips IAG Loyalty's operating profit rose £48m to £239m, a bright spot. But group operating profit fell €121m year-on-year to €1.757bn and margin slipped to 10.9%, while net debt improved to €4.7bn. Overall a mixed update.
It shows the underlying profit trend and a strong sub-business, giving a fair picture beyond the headline drop.
Barclays names IAG preferred major airline Barclays downgraded Ryanair and Norwegian on high fuel costs, but kept IAG as its preferred major airline with an Overweight rating. That analyst support can lift IAG shares relative to weaker rivals, even as fuel pressures the whole sector.
It is a new, positive analyst call that directly affects how investors view IAG versus peers.

Latest20 Jul – 9 Oct 2026

▼2▲1

IAG hit by fuel costs and capacity cut, but stays Barclays' top pick

Fuel and emissions costs crush Q2 profit IAG's second-quarter pre-tax profit fell more than a third to €995m as fuel and emissions charges jumped 23% (€413m) on Middle East conflict. Revenue held at €8.9bn, but higher costs squeeze earnings, weighing on the shares.
This is the single biggest new financial event for IAG this period, directly explaining the profit drop.
IAG cuts 2026 capacity guidance IAG lowered its 2026 capacity plans, meaning it will fly fewer seats than previously expected. Less supply can support fares, but the cut signals weaker growth and pushed the shares down 1.5% on the day.
A fresh guidance cut is a key driver of the stock's direction and future earnings expectations.
Loyalty unit shines, but group margin slips IAG Loyalty's operating profit rose £48m to £239m, a bright spot. But group operating profit fell €121m year-on-year to €1.757bn and margin slipped to 10.9%, while net debt improved to €4.7bn. Overall a mixed update.
It shows the underlying profit trend and a strong sub-business, giving a fair picture beyond the headline drop.
Barclays names IAG preferred major airline Barclays downgraded Ryanair and Norwegian on high fuel costs, but kept IAG as its preferred major airline with an Overweight rating. That analyst support can lift IAG shares relative to weaker rivals, even as fuel pressures the whole sector.
It is a new, positive analyst call that directly affects how investors view IAG versus peers.