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Iberia, the Spanish airline, is embarking on an ambitious multi-million euro five-year fleet expansion plan known as "Flight Plan 2030." This initiative, revealed after the airline shelved its takeover of Air Europa, aims to bolster Iberia's long-haul capabilities and solidify its position as a dominant European hub.
The plan includes a substantial increase in long-haul aircraft, potentially reaching close to the 70 aircraft mark, which would be comparable to the fleet size if the Air Europa acquisition had gone through. While the exact number of new aircraft is yet to be determined, Iberia's president, Marco Sansavini, emphasised that 70 is the minimum needed to expand into eastern and Asian markets from Madrid-Barajas airport.
The Flight Plan 2030 encompasses various strategic goals, including sustainability initiatives, exploration of new markets, and the development of a maintenance hub in Madrid. The fleet expansion will begin with the addition of eight A321 XLRs, Airbus's long-range narrow-body aircraft, to serve secondary destinations in North America and Brazil.
The plan is not a backup following the failed Air Europa deal, but rather a continuation of Iberia's existing growth strategy. The airline, along with its parent company, IAG, is committed to investing heavily in new aircraft and technology, with a projected investment of €4 billion in 2025 and 2026.
Iberia's growth in 2024, with a 14% increase in capacity, and its record operating profit in 2023, underline its strong financial performance and its ability to compete effectively in the European aviation market. The Flight Plan 2030 is a clear indication of Iberia's determination to expand its reach and influence in the global aviation industry.
