Iberia Express, the low-cost spin-off of Iberia, added a total of 10 aircraft during its first year of operations.
The Spanish budget carrier, which celebrated its first year of operations transporting 2.8 million passengers from its base Madrid-Barajas, started operations on 25 March 2012 with four Airbus A320s. It currently operates 14 A320s.
The carrier remains optimistic despite a difficult operating environment in 2012.
"In an economic context as complex as 2012, and even with the increase in airport taxes, which were not included in our forecasts and that resulted in an impact of €2.5 million that we absorbed we have managed to close the first fiscal year surpassing our initial objectives," says chief executive officer Luis Gallego.
"Our financial results, our market position as the fourth airline at Madrid-Barajas and our punctuality rates, are a clear sign that the model works and that Iberia Express is a company capable of operating short- and medium-haul flights in a competitive and efficient manner."
In its first year of operation, the airline operated a total of 24 routes, including nine international routes (Amsterdam, Copenhagen, Dublin, Dusseldorf, Edinburgh, Stockholm, Mykonos, Naples and Riga) and 15 domestic routes (Lanzarote, Malaga, Alicante, Fuerteventura, Granada, Ibiza, GranCanaria, Menorca, Palma de Majorca, Santiago de Compostela, La Palma, Seville, Tenerife, Vigo and Jerez).
The carrier operates codeshare agreements with Iberia, LAN Airlines, Qantas Airways, Air Berlin, Japan Air Lines, American Airlines, Avianca, Finnair, British Airways and Siberia Airlines.