Spanish flag-carrier Iberia said it will invest €6bn ($6.95bn) in expanding its fleet and enhancing its global connectivity, in a plan which targets an annual profitability of between 13.5-15%.
As part of the airline’s ‘2030 flight plan’ it has set out plans to increase its long-haul fleet from 45 to 70 aircraft, incorporating new A350s, A321XLRs, and potentially A330neos. Iberia said it will also renew its short and medium-haul fleet with A320 and A321neo jets.
This expansion is set to facilitate new routes to Toronto, Philadelphia, and Monterrey, alongside recently announced destinations such as Recife, Fortaleza, and Orlando. Iberia will also renovate 100% of its long-haul cabins and open an additional premium lounge at Madrid-Barajas Airport.
“We want to grow from the current 45 long-haul aircraft to 70 to position Barajas as a major European hub and enhance Spain’s global connectivity,” said Marco Sansavini, president and CEO of Iberia. “Thanks to Iberia’s profound transformation over the last decade and the efforts of all our people, we are now delivering results that allow us to look to the future with confidence and invest €6bn in our flight plan 2030.”
Iberia will also develop "Ciudad Iberia" in La Muñoza, a new aeronautical innovation centre, and will relocate its corporate headquarters there. The airline plans to hire an average of 1,000 new employees annually, aiming to support 250,000 jobs, contributing €19bn ($22bn) to Spain's GDP by 2033.