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.
ends
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:
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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.
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