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News Release

New Longhaul Aircraft for Iberia
RNS Number : 9639N
International Cons Airlines Group
01 August 2014
 



NEW LONGHAUL AIRCRAFT FOR IBERIA

International Airlines Group (IAG) is converting eight Airbus A350-900 aircraft options into firm orders and securing eight A330-200 aircraft for Iberia.

These aircraft will replace 16 A340 family aircraft in Iberia's longhaul fleet and will be delivered between 2015 and 2020.

Willie Walsh, IAG chief executive, said: "Iberia has taken significant steps to restructure its business and the progress made so far means that we can bring new longhaul aircraft into the airline's fleet. These orders demonstrate our commitment to make Iberia competitive.

"Both aircraft will provide cost efficiencies and environmental benefits, enabling Iberia to replace its long haul fleet with modern and fuel efficient aircraft. The new technology and improved aerodynamics will lower fuel burn and CO2 emissions per seat by 18 per cent, as well as providing both noise and NOx performance advantages.

 "Retaining an all Airbus longhaul fleet will also generate cost savings in maintenance and crewing".

IAG secured commercial terms for the A350 aircraft as part of the Group longhaul order announced in April 2013.

The eight A330 aircraft will be obtained either by converting existing options from the 2011 Airbus order or from the operating lease market, depending on financial and delivery terms.

 

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1 August 2014                                                                                                              

 

Note to editors:

·      IB currently has a fleet of 33 longhaul aircraft.

·      The A350-900 list price, as at January 2012, is approximately US$285 million (being the sum of the airframe list price, engine option list price and the price of certain assumed specification change notices) against which price concessions are made. IAG has negotiated a substantial discount from the list price.

 

Forward-looking statements:

 

Certain statements included in this report are forward-looking and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward-looking statements.

 

Forward-looking statements can typically be identified by the use of forward-looking terminology, such as "expects", "may", "will", "could", "should", "intends", "plans", "predicts", "envisages" or "anticipates" and include, without limitation, any projections relating to results of operations and financial conditions of International Consolidated Airlines Group S.A. and its subsidiary undertakings from time to time (the 'Group'), as well as plans and objectives for future operations, expected future revenues, financing plans, expected expenditures and divestments relating to the Group and discussions of the Group's Business plan. All forward-looking statements in this report are based upon information known to the Group on the date of this report. The Group undertakes no obligation to publicly update or revise any forward-looking statement, wheter as a result of new information, future events or otherwise.

It is not reasonably possible to itemise all of the many factors and specific events that could cause the forward-looking statements in this report to be incorrect or that could otherwise have a material adverse effect on the future operations or results of an airline operating in the global economy. Further information on the primary risks of the business and the risk management process of the Group is given in the Annual Report and Accounts 2013; these documents are available on www.iagshares.com.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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