19-Jan-2011 11:51 AM

Iberia to focus on long-haul expansion; IAG targetting acquisitions

Iberia Chairman and CEO Antonio Vazquez stated the carrier would focus on expanding its long-haul routes but is still targetting acquisitions upon its merger with British Airways (Dow Jones, 18-Jan-2011). He added that Iberia plans to expand significantly its long haul network, with its short and medium-haul network supporting that strategy. The carrier also plans to expand into new markets.  Around 70% of its long-haul network is transit traffic. Mr Vazquez added that he invites airlines to consolidate with International Consolidated Airlines Group created by the merger with British Airways. The airline has signed-off on restructuring agreements with all segments of staff except pilots and will change its business model if an agreement can not be reached. This could include creating a new framework or an entirely new company, according to Mr Vazquez.