IAG invests $6 billion in Spain over five years on new planes and decarbonization

IAG invests $6 billion in Spain over five years on new planes and decarbonizationEUROPE PRESS

IAG plans to invest 6,000 million euros in Spain over the next five years to renew its fleet and meet its obligations under decarbonization, as the airline group’s CEO Luis Gallego told Government President Pedro Sánchez at their meeting this morning in La Moncloa.

The airline group has already invested another 5 billion in the last five years, so The amount in a decade will be 11 billion..

IAG, the parent company of Iberia, Iberia Express, Vueling and Level, Ireland’s Aer Lingus and Britain’s British Airways, has announced its intention keep betting on Spainin order to enhance the development of its Spanish airlines.

In particular, IAG plans to invest €6 billion in Spain over the next five years, an investment initiative that continues over time.”even in the most unfavorable moments, such as a pandemic”.

The group’s investments in Spain will therefore focus on renewing its fleet, improving the customer experience, promoting innovation and transformation initiatives, as well as consolidating its sustainability initiatives focused on the procurement of sustainable aviation fuel (SAF) to achieve its commitment to use 10%. SAF in 2030. Significantly higher than the 6% set by the EU on this date.

These investment plans do not include the activities of Air Europa, which is currently in the first stage of analysis by the European Commission.. IAG recognizes that the operation will be fundamental to transforming the Madrid Barajas hub, strengthening its leadership in the South Atlantic, continuing growth towards the United States and supporting the development of ties with Asia and the Middle East.

In this way, Madrid Airport will be able to compete with major European hubs and significantly increase the level of prosperity and employment in the country as a whole.

Aviation holding invested in Spain Over the last five years more than 5 billion euros this allowed their airlines to undergo an intensive transformation process. As a result, both Iberia and Vueling have achieved leading positions in the European and global industry in terms of punctuality and profitability.

In a meeting this Friday with the President of the Government, IAG emphasized its position as the airline group most committed to the development of air traffic in Spain and therefore to the development of the tourism industry.

Gallego also informed Pedro Sanchez of the group’s plans to strengthen its activities in the centers of Madrid and Barcelona. Added to these plans is IAG’s role in attracting higher quality tourism to Spain, which creates better business and employment opportunities for the country as a whole.

Sanchez values ​​his loyalty to Spain

In turn, the Prime Minister thanked IAG for its commitment to Spainexpanding its investment after years marked by the impact of the pandemic, while also contributing to the positioning of Spain as a global reference centre.

“We will continue to work together to decarbonize to combat climate change while boosting employment and economic growth,” said Chief Executive X (formerly Twitter).

IAG, which has a fleet of 573 aircraft, In 2022, the company operated flights to 256 destinations and carried more than 95 million passengers.. Its team employs more than 70,000 people, of which 26,000 are located in Spain.