Iberia Group

Iberia Group

Iberia Líneas Aéreas de España, S.A., commonly known as Iberia, is the flag carrier airline of Spain. Based in Madrid, it operates an international network of services from its main bases of Madrid-Barajas Airport and Barcelona El Prat Airport.

Iberia, with Iberia Regional (operated by an independent carrier Air Nostrum), is a part of Iberia Group. In addition to transporting passengers and freight, Iberia Group carries out related activities, such as aircraft maintenance, handling in airports, IT systems and in-flight catering. Iberia Group airlines fly to over 102 destinations in 39 countries. Via code-sharing arrangements with other companies, it offers flights to another 90 destinations.

On 8 April 2010, it was confirmed that British Airways and Iberia had signed an agreement to merge, making the combined operation the third largest commercial airline in the world by revenue. Shareholders of both carriers approved the deal on 29 November 2010. The newly merged company, known as International Airlines Group IAG, was established in January 2011, although both airlines will continue to operate under their current brands.

In November 2012 Iberia is planning to reduce the number of employees by 4,500 and its fleet by five long-haul and 20 short-haul aircraft, in a "fight for survival", as IAG's chief executive officer said.