IAG (Iberia) to invest 6 billion in renewing its Spanish fleet and improving connectivity

22-01-24

International Airlines Group (IAG) has proposed an investment of 6,000 million euros over the next five years in Spain to renew its fleet of aircraft and improve connectivity through the merger of Iberia with Air Europa and the development of air hubs in Madrid and Barcelona. This is what the CEO of the Spanish-British airline group, Luis Gallego, told the Spanish Prime Minister, Pedro Sánchez, during a meeting at La Moncloa on Tuesday.

According to Europa Press, the parent company of Iberia, Vueling, Level, British Airways and Aer Lingus airlines has announced that its investments in Spain will be focused on renewing the fleet, improving the customer experience, boosting innovation and transformation initiatives, and consolidating its sustainability plans, centered on the purchase of sustainable aviation fuel (SAF). 

The group's goal is to meet its commitment to use 10% of this product by 2030, well above the 6% target set by the European Union for that date.

During the meeting, the President of the Government and the CEO of IAG also discussed the group's interest in promoting the development and connectivity of Adolfo Suárez Madrid-Barajas Airport, as well as in strengthening and consolidating domestic and international connectivity from the Josep Tarradellas Barcelona-El Prat Airport, contributing to increasing the competitiveness of Spanish airports and positioning Spain as "a hub of reference at world level".

Air Europa, key to the development of connectivity

IAG's investment plans do not include the purchase of Air Europa, which is already in the first phase of analysis by the European Commission. The group recognizes that cooperation will be essential to transform the Madrid-Barajas hub, consolidate its leadership in the South Atlantic, continue to grow towards the United States and support the development of connectivity with Asia and the Middle East.