Link Securities | Holding company IAG plans to invest 6 billion euros in Spain over the next five years to update its fleet and drive decarbonization efforts, Expansion newspaper reported on Friday. This was one of the messages the airline group’s CEO Luis Gallego conveyed to Prime Minister Pedro Sánchez during a meeting in La Moncloa. IAG has already invested a further 5 billion euros in the past five years.
Specifically, the Anglo-Hispanic group wants to focus on introducing new aircraft that emit less than those they replace, improving customer experience, innovating to transform their business, and purchasing alternative fuels (SAF). He believes that these are equivalent to 10. % by 2030, in line with IAG’s commitment. This is four percentage points higher than the EU’s obligations towards the end of this decade.
According to IAG, this amount does not include the 400 million euros that Iberia’s parent company will have to pay in cash and shares to complete the acquisition of Air Europa. Air Europa is scheduled to move into Phase 2 next week. This study plans to propose remedies to ensure competition in specific routes after the merger.
Meanwhile, newspaper Expanción reported today on Monday that IAG member Spanish airline Iberia and its labor union have resumed negotiations over the future employment of 4,000 ground workers (handlers) who fear they will be substituted by other companies. Reporting. In principle, working conditions must be maintained until the end of 2025. Iberia will replace at least 1,000 of its 8,000 employees in the region with other companies after losing its license to provide ramp services to third parties at eight airports, including four in Spain. become. Of the major five. The final number will be determined by the results of negotiations.