International Consolidated Airlines Group S.A (IAG) — Free Cash Flow Generation Index
International Consolidated Airlines Group S.A (IAG) has a Free Cash Flow Generation Index of 0.38x as of December 2025. Free cash flow of €1.12 Billion represents 0% of operating cash flow (€2.92 Billion). Explore IAG capital expenditure intensity to see what proportion of operating cash flow is directed to capital expenditures.
FCF Generation Index
Free Cash Flow
Operating Cash Flow
Capital Expenditures
International Consolidated Airlines Group S.A Free Cash Flow Generation Index (2003–2025)
Historical FCF Generation Index trend for International Consolidated Airlines Group S.A across 20 annual periods. For the full cash flow conversion analysis, see how efficiently does International Consolidated Airlines Grou generate cash.
Annual Free Cash Flow Generation for International Consolidated Airlines Group S.A (2003–2025)
Year-by-year Free Cash Flow Generation Index for International Consolidated Airlines Group S.A. Check International Consolidated Airlines Grou cash flow reinvestment rate to assess the company's total reinvestment commitment from operating cash flow.
| Year | FCG Index | Free Cash Flow (EUR) | Operating CF | Capital Expenditures | YoY Change |
|---|---|---|---|---|---|
| 2025 | 0.48x | €3.09 Billion | €6.47 Billion | €3.38 Billion | ▼ -14.4% |
| 2024 | 0.56x | €3.56 Billion | €6.37 Billion | €2.82 Billion | ▲ +105.6% |
| 2023 | 0.27x | €1.32 Billion | €4.86 Billion | €3.55 Billion | ▲ +36.7% |
| 2022 | 0.20x | €960.00 Million | €4.83 Billion | €3.88 Billion | ▲ +48.0% |
| 2019 | 0.13x | €537.00 Million | €4.00 Billion | €3.46 Billion | ▲ +0.0% |
| 2018 | 0.13x | €434.00 Million | €3.24 Billion | €2.80 Billion | ▼ -76.7% |
| 2017 | 0.58x | €2.02 Billion | €3.51 Billion | €1.49 Billion | ▲ +487.6% |
| 2016 | -0.15x | €-393.00 Million | €2.65 Billion | €3.04 Billion | ▼ -306.1% |
| 2015 | -0.04x | €-72.00 Million | €1.97 Billion | €2.04 Billion | ▲ +91.0% |
| 2014 | -0.41x | €-760.00 Million | €1.86 Billion | €2.62 Billion | ▲ +49.2% |
| 2013 | -0.80x | €-978.00 Million | €1.22 Billion | €2.20 Billion | ▲ +69.8% |
| 2012 | -2.65x | €-900.00 Million | €339.00 Million | €1.24 Billion | ▼ -579.2% |
| 2011 | -0.39x | €-301.00 Million | €770.00 Million | €1.07 Billion | ▼ -224.0% |
| 2010 | 0.32x | €295.00 Million | €936.00 Million | €641.00 Million | ▲ +125.4% |
| 2008 | -1.24x | €-341.15 Million | €275.29 Million | €616.44 Million | ▼ -154.5% |
| 2007 | -0.49x | €-258.39 Million | €530.57 Million | €788.95 Million | ▼ -184.2% |
| 2006 | 0.58x | €741.13 Million | €1.28 Billion | €540.75 Million | ▼ -28.0% |
| 2005 | 0.80x | €1.66 Billion | €2.06 Billion | €405.63 Million | ▲ +23.7% |
| 2004 | 0.65x | €1.04 Billion | €1.61 Billion | €564.12 Million | ▼ -15.6% |
| 2003 | 0.77x | €1.06 Billion | €1.37 Billion | €317.05 Million | — |