Iberia and AENA to constuct EUR100m cargo terminal

Iberia and AENA confirmed (09-Mar-2011) the signing of an agreement for the construction of a 39,000sqm Iberia cargo terminal at Madrid Barajas. The facility is expected to cost EUR100 million, with Iberia to provide EUR60 million and AENA the balance. Iberia stated the facility will ensure there is sufficient capacity to cater for future growth and make Madrid Barajas Europe's largest hub for cargo carriage to Latin America. Madrid Barajas handled 373,000 tonnes of freight in 2010, a 23% year-on-year increase. Iberia handled 175,000 tonnes or 47% of total air cargo, which the airline expects to triple to 650,000 tonnes by 2030. The cargo terminal is expected to be operational by 2015. [more]