AIRLINE METRICS · LEVEL
LEVEL
Traffic, capacity, fleet and Barcelona long-haul operating data. Standalone financial metrics remain unavailable where IAG does not separately disclose them.
Latest: H1 2026 · six months to 30 June 2026
Latest read
LEVEL now has a useful long-run operating series even though a standalone P&L is still unavailable. The history also contains a major scope break: early LEVEL statistics included Spain, France and Austria, while the current airline is the Barcelona-based Spanish operation.
Historical traffic and capacity
LEVEL financials are not separately reportable within IAG, so this series uses passenger, RPK, ASK and load-factor disclosures rather than estimated revenue or profit.
| Period | Passengers | RPK | ASK | Load factor | Scope / note |
|---|---|---|---|---|---|
| 2018† | 867k | 4.337bn | 5.169bn | 83.9% | LEVEL Spain, France & Austria perimeter |
| 2019† | 1.877m | 8.011bn | 9.543bn | 83.9% | LEVEL Spain, France & Austria perimeter |
| 2020‡ | 445k | 2.153bn | 2.476bn | 87.0% | COVID year; Vienna/Amsterdam operations ceased during the year |
| 2021 | Not stored | Not stored | Not stored | Not stored | Scope disruption; no clean comparable record inserted |
| 2022 | Not stored | Not stored | Not stored | Not stored | Financials remained in Other Group companies |
| 2023 | 701k | 5.990bn | 6.411bn | 93.4% | Barcelona-centred long-haul operation |
| 2024 | 846k | 7.192bn | 7.555bn | 95.2% | Own Spanish AOC obtained Dec 2024 |
| 2025 | 899k | 7.661bn | 8.287bn | 92.4% | Own IATA code LL from 1 Dec 2025 |
| H1 2026 | 410k | 3.581bn | 3.904bn | 91.7% | Current airline scope |
† Early LEVEL statistics cover multiple LEVEL-branded operating entities and are not perfectly entity-comparable with today’s Spanish airline. ‡ COVID-distorted year. 2021–2022 are intentionally left unfilled where a clean comparable operating record was not established.
H1 2026 operating dashboard
| Metric | H1 2026 | Basis / context |
|---|---|---|
| Passengers | 410k | +7.3% YoY |
| Load factor | 91.7% | -1.2pt YoY |
| ASK | 3.904bn | +9.4% YoY |
| RPK | 3.581bn | Reported |
| Cargo tonne-km | 23m | Reported |
| Revenue | Not separately disclosed | Included in Other Group companies |
| Operating result | Not separately disclosed | No standalone segment P&L |
Fleet and network
LEVEL operates under its own Spanish AOC and has used its own IATA code LL since 1 December 2025. The current network is concentrated on Barcelona–Americas long haul.
Standardized disclosure coverage
| Field | Status | Note |
|---|---|---|
| Passengers / RPK / ASK / load factor | Available | Historical traffic series available for multiple years |
| Revenue | Unavailable | Not separately disclosed |
| Operating result / margin | Unavailable | No standalone segment P&L |
| PRASK / CASK | Unavailable | Standalone revenue/costs not disclosed |
| Cash / net debt | Unavailable | Not separately disclosed |
| Fleet / growth | Available | IAG fleet and capacity data |
| Fuel / hedging | Unavailable | No airline-specific disclosure |
What to watch
- Whether growth eventually makes LEVEL a separately reportable IAG financial segment.
- Fleet growth beyond seven A330-200s.
- Barcelona long-haul share and South America route maturity.
- Economics of the A330-200 fleet versus newer-generation widebodies.
Sources and methodology
IAG traffic/capacity statistics and annual reports are used for the historical series, complemented by LEVEL’s own AOC, code and fleet disclosures. Missing financial metrics are not back-solved from IAG group totals.