Iberia Express to grow fleet size to 40 in 2015, to have positive impact in excess of EUR100m

International Consolidated Airlines Group (IAG) stated (29-Feb-2012) Iberia's short-haul unit revenues were "far below 2008 levels" in 2011, exacerbated by rising fuel costs. The carrier also confirmed that Iberia Express will launch operations in summer 2012 with an initial workforce of 500 staff and a fleet of A320 aircraft from Iberia. The carrier, 100% owed by Iberia, will be managed independently from Iberia, which will also provide maintenance and handling at a reduced cost. The carrier will commence operations with four A320s to increase to 13 aircraft by year end. In 2013, its fleet size will growth to 16, increasing to 28 in 2014 and 40 in 2015. The carrier expects a positive impact to operating profit from Iberia Express in excess of EUR100 million. 45% of the gain to come from crewing costs, 25% from handling services and operational areas, 25% from overheads and general costs and 5% from increased asset turns. [more - original PR] [more - CAPA Analysis]