IAG Appoints Insider José Antonio Barrionuevo as New Group CFO

International Airlines Group (IAG), the parent of British Airways, Iberia, and Vueling, has appointed long-serving executive José Antonio Barrionuevo as its next Group Chief Financial Officer, signalling continuity in leadership at one of Europe’s largest airline groups.

The appointment, announced on Friday, forms part of a planned succession process. Barrionuevo is expected to assume the CFO role in June 2026, succeeding Nicholas Cadbury, who has decided to step down after several years in the position to pursue opportunities outside the group.

Shares in IAG traded lower in London following the announcement, reflecting investor reaction to Cadbury’s departure after a period marked by balance-sheet repair and a return to profitability following the pandemic.

Internal succession and operational continuity

Barrionuevo has been with the IAG group since 2013 and is currently Chief Financial and Transformation Officer at British Airways, a role he took on in 2023. Before that, he served for seven years as Chief Financial Officer of Iberia, where he played a central role in the airline’s restructuring and strategic repositioning.

Earlier in his career, Barrionuevo held senior roles at JP Morgan and McKinsey, experience that IAG said positions him well to guide the group through its next phase of financial and operational development.

IAG Chief Executive Luis Gallego said the board’s decision reflected Barrionuevo’s deep familiarity with the group and his background in finance and transformation. He also credited Cadbury with helping stabilise IAG’s finances and improving profitability during a challenging recovery period for the aviation sector.

Cadbury is expected to remain with IAG for several months to support an orderly handover. The leadership transition comes as the group continues to invest in fleet renewal, digital initiatives, and efficiency programmes across its airlines, which also include Aer Lingus and LEVEL.

Summary

International Airlines Group has named British Airways finance chief José Antonio Barrionuevo as its next Group CFO, effective June 2026. He will succeed Nicholas Cadbury, who is stepping down after overseeing IAG’s post-pandemic financial recovery. The internal appointment underscores the airline group’s focus on continuity as it advances investment and transformation programmes across its brands.

Frequently Asked Questions (FAQs)

Q1: Who is the new CFO of IAG?

José Antonio Barrionuevo, currently Chief Financial and Transformation Officer at British Airways, has been appointed Group CFO of IAG.

Q2: When will the transition take place?

Barrionuevo is expected to take over the role in June 2026, with Nicholas Cadbury supporting the transition in the interim.

Q3: Why is Nicholas Cadbury leaving IAG?

Cadbury has said he plans to step down to pursue new opportunities outside the group after several years in the role.

Q4: What is Barrionuevo’s background?

He joined IAG in 2013, previously served as CFO of Iberia, and has worked at JP Morgan and McKinsey.

Q5: Which airlines are part of IAG?

IAG owns British Airways, Iberia, Aer Lingus, Vueling, and the long-haul low-cost carrier LEVEL.

Q6: How has IAG performed recently?

The group has reported improved profitability and balance-sheet strength following the post-pandemic recovery, supported by strong travel demand and cost discipline.