Regional conflict has pushed jet fuel toward $185 per barrel, doubling pre-war levels and pressuring airline finances across Europe and beyond. Shares have fallen broadly, yet International Consolidated Airlines has been more resilient, slipping just 5 per cent as a recent €1bn buyback lifted sentiment and reduced float by 115 million shares.

Capital returned to shareholders created room for portfolio adjustments among insiders. Nicholas Cadbury sold 225,000 shares at £3.62 each, paring exposure before his planned departure from the IAG group. His exit flags a transition in treasury oversight as cost discipline and fuel risk dominate board discussions.

José Antonio Barrionuevo will step in from British Airways with thirteen years of group experience, inheriting hedging strategy and transformation duties amid volatile refining markets. Cadbury’s disposal reflects personal liquidity choice rather than company weakness, leaving IAG’s financial structure intact after a year of aggressive share repurchase.