HomeAir LineIAG reinforces its Spanish airlines with €6,000 million

IAG reinforces its Spanish airlines with €6,000 million

IAG commits to investing 6 billion euros in the group’s Spanish airlines -Iberia, Iberia Express, Vueling and Level- in the next five years. In a decade, the holding company headed by Luis Gallego will have allocated a total of 11,000 million euros, in order to renew the fleet, improve customer service and innovation and sustainability initiatives. And all this while waiting to close the Air Europa operation, which is under analysis by the European Commission.

International Airlines Group (IAG), the group to which Iberia, Iberia Express, British Airways, Vueling, Aer Lingus and Level belong, will invest 6,000 million euros in Spain in the next five years. They will thus add to the 5,000 million invested in the last five years to address the transformation of Spanish airlines.

The new one investment planned by the group in Spain will be allocated to the fleet renewalto improving customer service and innovation and sustainability initiatives to continue advancing in the decarbonization of flights.

Luis Gallego, CEO of IAG, has met with the President of the Government, Pedro Sánchez. Source: Pool Moncloa/Borja Puig de la Bellacasa.

Altogether, the holding company plans to invest around 13.5 billion euros between 2024 and 2026 in fleet and improving the efficiency of operations, at an annual average of 4.5 billion.

In a decade IAG will invest 11,000 million in the four Spanish airlines that are part of the group

Of the total amount, 8,000 million euros will be allocated to fleet renewal and 900 million to growth to increase its capacity in the coming years. Specifically, the group expects to increase its capacity in 2024 between 6% and 8% compared to 2023 and, in the following years, until 2026, between 4% and 5%.

Likewise, IAG intends to increase the purchase of sustainable aviation fuel (SAF) to meet its commitment to use 10% of SAF in 2030, above the 6% set by the EU for that date.

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Operation Air Europa

These investment plans do not include the operation of Air Europa, which is currently under analysis by the European Commission.

In the meeting held by the President of the Government, Pedro Sánchez, and the CEO of IAG, Luis Gallego, they also discussed the group’s interest in promoting the development and connectivity of the Madrid airport, as well as reinforcing and consolidating the domestic and international connectivity from Barcelona, ​​to increase the competitiveness of both centers and position Spain as a reference hub (air traffic distribution center).

The purchase of Air Europa is essential, according to IAG, to turn Madrid airport into a ‘hub’

Precisely, in this area, the purchase of Air Europa will be fundamental, according to IAG, to transform the Madrid-Barajas ‘hub’, consolidate its leadership in the Atlantic, continue growing towards the United States and support the development of connectivity with Asia. and the Middle East.

Related news:

-IAG and Iberia: Madrid will only be a global hub after the purchase of Air Europa

-Iberia cleans up its accounts and settles its debt with the ICO

-IAG achieves record profits in summer and earns 10 times more until September

Source: Hosteltur

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