New Iberia subsidiary "Iberia Express" to be launched in 2012

IAG’s board has approved the launch of Iberia’s new subsidiary airline Iberia Express which will operate part of Iberia’s short and medium haul network. The subsidiary is being established to compete effectively in the Spanish domestic and European market. Over time it will look to develop new markets and destinations and strengthen the Madrid hub, creating new jobs for the Spanish economy.  Iberia Express will start operations in summer 2012 offering business and economy seats at competitive fares from Madrid Barajas. In addition to direct traffic, it will also provide transfer feed onto Iberia’s longhaul network. The subsidiary will have a single A320 fleet with four aircraft initially and 13 aircraft by the end of 2012. All the aircraft will be sourced from Iberia’s existing fleet.