International Airlines Group has reached agreement with Boeing for new long-haul aircraft for the group’s fleet at a cost of €3 billion. IAG plans to convert 18 existing Boeing 787 Dreamliner options into firm orders for British Airways. They will be used to replace some of the airline’s B747-400 aircraft between 2017 and 2021.
For Iberia, IAG has reached agreement with Boeing to secure commercial terms and delivery slots that could lead to an order for Boeing 787s. Firm orders will only be made when Iberia has restructured, reduced its cost base, and is in a position to grow profitably.
Willie Walsh, IAG Chief Executive, said: “British Airways has 24 Boeing 787s on order already and we plan to boost this by a further 18 aircraft by exercising our options.
“The aircraft offers a step change in fuel burn efficiency versus our existing aircraft with improvements in fuel cost per seat of more than 20%. New technology engines and improved aerodynamics will lower fuel burn leading to reduced carbon and NOx emissions.
“The creation of IAG has resulted in greater buying power for both airlines through joint procurement and we have been able to obtain delivery slots for Iberia as part of British Airways’ order.”
British Airways has 118 wide-bodied long-haul aircraft in its fleet with 42 aircraft (12 A380s, 24 B787s, six B777-300ERs) already ordered. Iberia has 31 wide-bodied long-haul aircraft in its fleet with six A330 aircraft already ordered.
The new fleet order is subject to approval by IAG shareholders.