IAG holds 44 A350 and 787 options for Iberia fleet roll-over

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IAG has placed options for a total of 44 Airbus A350s and Boeing 787s to renew the Iberia long-haul fleet, subject to its Spanish subsidiary's satisfactory restructuring.

When the Iberia parent company announced in April plans to order 18 A350-900s for British Airways, IAG disclosed that it had also reached agreement with Airbus as well as Boeing to secure commercial terms and delivery slots for A350s and 787s. IAG is already a 787 customer, having ordered the twinjet for BA.

Confirmation of the options will be subject to Iberia's successful restructuring and the business transitioning into profitable growth, said IAG.

Speaking during an IAG analysts' briefing today, Iberia chief executive Luis Gallego confirmed the size of the potential order commitment.

"We have options to change and grow the long-haul fleet with new generation aircraft. We have with up to 32 options for A350 and 12 options for the 787," he said.

The IAG financial presentation reveals that the options are for the A350-900 and the 787-9 variants.

These A350s and 787s would replace Iberia's 17 A340-600s as well as, in the longer term, its new A330 fleet. The airline has received the first four of eight A330-300s on firm order, and holds options slated for delivery between 2015 and 2017. The twinjets are replacing its 12 A340-300s.