Iberia Express will start operations in summer 2012 offering business and economy seats at competitive fares from Madrid Barajas, as IAG's board has approved this Thursday.
Iberia's new subsidiary airline Iberia Express will operate as 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.
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.
Iberia Express will have lower operating costs than Iberia's loss-making short and medium haul business. The subsidiary will recruit new staff at market rates and have improved aircraft utilisation. Initially, maintenance and ground handling has been awarded to Iberia.
The creation of Iberia Express will not change the terms and conditions of existing Iberia employees or Iberia's existing relationships with Vueling and Air Nostrum.
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like easyjet, ryanair, air berlin... the world is getting crazy
they work as a low cost from a long time ago. this comes as no surprise
Again, another sub-company to bury some money and cheat the passangers