IAG plans to invest €6,000 million to Spain over the next five years to renew its fleet and advance its commitments decarbonization, as conveyed by Luis Gallego, CEO of the airline group, to the President of the Government Pedro Sánchez at the meeting in La Moncloa this morning.
The airline group has already invested another $5 billion in the last five years. The amount in ten years will be 11 billion million.
IAG, the parent company of Iberia, Iberia Express, Vueling and Level, Irish Aer Lingus and British British Airways, Keep betting on SpainIn order to strengthen the development of Spanish airlines.
In particular, IAG plans to invest €6 billion in Spain over the next five years; this is an investment effort sustained over time. “Even in the most negative moments such as the pandemic”.
Thus, the group’s investments in Spain will focus on fleet renewal, improving customer experience, promoting innovation and transformation initiatives and consolidating sustainability initiatives, as well as fulfilling its commitment to purchase sustainable aviation fuel (SAF). SAF in 2030. Well above the 6% set by the EU for that date.
These investment plans do not include the Air Europa operation, which is currently in Phase 1 of analysis by the European Commission.. IAG recognizes that the operation will be essential to transform its Madrid Barajas hub, consolidate its leadership in the South Atlantic, continue its expansion into the US and support the development of connectivity with Asia and the Middle East.
Thus, Madrid airport will be able to compete with major European hubs and significantly increase the generation of wealth and employment for the country as a whole.
Aviation conglomerate invested in Spain More than 5,000 million euros in the last five years This allowed airlines to undergo an intense transformation process. As a result, both Iberia and Vueling have placed themselves at the top of the European and global industry in terms of punctuality and profitability.
In its meeting with the Head of Government this Friday, IAG emphasized its position as the airline group most committed to the growth of air connectivity in Spain and thus to the support of the tourism industry.
Gallego also informed Pedro Sánchez about the group’s plans to strengthen its activities in the Madrid and Barcelona headquarters. These plans include IAG’s role in attracting better quality tourism to Spain, which will create better business and employment opportunities across the country.
Sánchez appreciates commitment to Spain
For his part, the Head of Government He thanked IAG for its commitment to SpainIn addition to contributing to the positioning of Spain as a global reference center, by expanding its investments after years of impact of the pandemic.
“We will continue to work together on decarbonisation to combat climate change and also boost jobs and economic growth,” said the Executive head of X (formerly Twitter).
IAG, which has a fleet of 573 aircraft, Operated a total of 256 destinations and carried more than 95 million passengers in 2022. Its team consists of more than 70,000 workers, 26,000 of whom are in Spain.