October 21, 2014 4:53 AM ET

Airlines

Company Overview of IBERIA LAE SA

Company Overview

IBERIA LAE SA provides passenger air transportation services. It also provides special flight services, including air shuttle, charter flight, trade fairs and congresses, bus and fly, and group booking services; and operates an on board store. The company operates flights for various destinations in Spain, Latin America, Europe, Africa, and the Middle East. It offers tickets through direct distribution channels and agents. The company was founded in 1927 and is based in Madrid, Spain. IBERIA LAE SA operates as a subsidiary of International Consolidated Airlines Group, S.A.

C/ Martínez Villergas, 49

Madrid,  28027

Spain

Founded in 1927

18,667 Employees

Phone:

34 902 40 05 00

Fax:

34 915 87 47 41

Key Executives for IBERIA LAE SA

Chief Executive Officer
Age: 57
Chairman
Age: 63
Finance & Control Manager and Member of Management Board
Senior Vice President of Costumer Relations and Member of Management Board
Senior Vice President of Cargo Services and Member of Management Board
Compensation as of Fiscal Year 2014.

IBERIA LAE SA Key Developments

Iberia Reports Traffic Results for the Month and Year to Date Ended August 2014

Iberia reported traffic results for the month and year to date ended August 2014. For the month, the company reported revenue passenger km of 4,104 million against 3,946 million a year ago. Available seat km was 5,149 million against 4,851 million a year ago. Cargo Tonne Km was 77 million against 74 million a year ago. For the year to date, the company reported revenue passenger km was 28,184 million against 28,002 million a year ago. Available seat km was 35,892 million against 35,355 million a year ago. Cargo Tonne Km was 626 million against 648 million a year ago.

International Airlines Group Announces New Longhaul Aircraft for Iberia Lineas Aereas de Espana S.A

International Airlines Group (IAG) announced the conversion of eight Airbus A350-900 aircraft options into firm orders and delivery of eight A330-200 aircraft to Iberia Lineas Aereas de Espana S.A. These aircrafts will replace 16 A340 family aircraft in Iberia's longhaul fleet and will be delivered between 2015 and 2020. Both aircraft will provide cost efficiencies and environmental benefits, enabling Iberia to replace its long haul fleet with modern and fuel efficient aircraft. The new technology and improved aerodynamics will lower fuel burn and CO2 emissions per seat by 18%, as well as providing both noise and NOx performance advantages.

Iberia Reaches Agreement with Trade Unions

International Airlines Group announced that Iberia and its trade unions have reached an agreement on collective redundancies for pilots and ground staff. This could lead to a reduction of up to 1,427 jobs at the airline. The agreement enables Iberia to continue with its transformation plan to introduce permanent structural changes across the airline and to facilitate profitable growth in the future.

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