LEVEL is IAG’s low-cost long-haul airline, built around Barcelona. It remains part of IAG, but it has taken steps toward operating as a distinct airline: IAG reported completing LEVEL’s own Air Operator Certificate (AOC) in 2024 and its transition to the IATA code LL in 2025. Those milestones clarify its operating identity; they do not make LEVEL independent of its parent group.
What is LEVEL?
IAG describes LEVEL as its low-cost long-haul carrier. Its strategy is centered on Barcelona Airport, where the group says LEVEL will continue developing long-haul operations and strengthening Barcelona’s role as an intercontinental hub.
“Low-cost” describes the airline’s positioning, not a guarantee that every fare is cheaper than a comparable ticket on another carrier. The IAG reports cited here do not specify LEVEL’s current fare structure, included services, baggage charges, seat fees, aircraft configuration, or route-by-route frequency. Check the fare conditions and total price for your dates before comparing tickets.
Is LEVEL independent from IAG or Iberia?
LEVEL is part of IAG, the group that also owns Iberia and other airlines. IAG’s 2025 annual report calls LEVEL’s move toward independence a consolidation milestone after it obtained its own AOC and adopted its own IATA code. In that context, “independent airline” describes its separate operating identity within the group; it does not mean LEVEL has left IAG.
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The reports establish that LEVEL has its own AOC and code, but do not spell out all legal or commercial arrangements between LEVEL and Iberia. It is therefore more precise to say that LEVEL is an IAG airline developing its own operating identity than to describe it as either a fully independent company or simply an Iberia-branded service.
What an AOC means
An Air Operator Certificate is a regulatory certificate for conducting airline operations under an approved operating structure. IAG reported completing LEVEL’s own AOC in 2024, saying this would enable the airline to develop its transatlantic network. The certificate is a meaningful operational milestone, but it does not by itself tell a traveler how a particular flight is marketed, ticketed, or serviced.
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LEVEL’s IATA code
IAG’s 2025 annual report says LEVEL completed its transition to its own IATA code, LL. Use the airline and flight details shown on your booking confirmation for travel-specific information.
Where does LEVEL fly from Barcelona?
The IAG reports point to a Barcelona-centered long-haul strategy, but they do not provide a complete current destination list or timetable. They identify Miami as a route that was new in 2024 and say LEVEL benefited from a full year of flying there in 2025. Because schedules can change, confirm current service and dates with LEVEL before planning around a route.
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Lima: planned, but no launch date stated
IAG says LEVEL will launch a route to Lima, Peru, but the cited passage in its 2025 report does not give a launch date. Treat Lima as a stated planned addition rather than assume it is already bookable. Check LEVEL’s current timetable for whether and when the route operates.
How large is LEVEL compared with IAG’s wider Atlantic operation?
IAG publishes some figures for its wider group and joint-business network, but those figures are not standalone LEVEL results. Keeping the attribution clear matters when assessing the airline’s scale or finances.
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| Figure | What it describes |
|---|---|
| 273 daily flights across the Atlantic | IAG and its joint-business partners, in 2024; not LEVEL alone. |
| 23 million passengers a year on Europe–Atlantic services | IAG and its joint-business partners, in 2024; not LEVEL alone. |
| 15.1% operating margin before exceptional items | IAG group, in 2025; not a LEVEL standalone margin. |
| 1.3 percentage-point year-over-year increase in operating margin before exceptional items | IAG group, comparing 2025 with 2024; not a LEVEL standalone result. |
IAG’s cited reports do not provide LEVEL-specific profit or operating-margin figures. The group’s financial performance should not be presented as evidence of LEVEL’s own profitability.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What to check before booking
For a personal travel budget, the key comparison is the complete trip cost and schedule, not the “low-cost” label alone. Before purchasing, review:
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- Current route and dates: Confirm the flight operates on your intended travel dates, particularly for a route described as planned.
- Total fare: Check what the selected fare includes and which services, if any, carry extra charges. The IAG reports do not specify current LEVEL fees or inclusions.
- Flight details: Use the booking confirmation to verify the operating airline, flight number, departure airport, and any itinerary details that affect your plans.
- Change and cancellation terms: Read the conditions attached to the specific fare before paying; the airline’s low-cost positioning does not establish what flexibility is included.
Sources and scope
This overview uses statements in IAG’s 2024 and 2025 annual reports. They establish LEVEL’s role in IAG, the AOC and IATA-code milestones, and selected network plans and group-level figures. They do not establish a complete current timetable, route frequencies, fare rules, fees, fleet details, or LEVEL-specific financial results.
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