International Airlines Group (IAG) announced plans, on August 1, 2014, to acquire eight A330-200 aircraft for Iberia. It said these would be obtained either by converting existing options from the 2011 Airbus order or from the operating lease market.

IAG has decided to convert the eight A330-200 options into firm orders. These aircraft will be delivered between 2015 and 2018.

The new A330s were announced alongside an order for eight Airbus A350-900 aircraft. In total they will replace 16 A340 family aircraft in Iberia’s longhaul fleet.

In addition, IAG has taken out options for a further ten A330s to provide fleet flexibility for the Group.

Notes to editors:
The A330-200 list price, as at January, 2010, is US$185 million (being the sum of the airframe list price, engine option list price and the price of certain assumed specification change notices) against which price concessions are made. IAG has negotiated a substantial discount from the list price.

IAG has a range of financing options and will choose the most appropriate source closer to the delivery time.

As previously disclosed, IAG expects, in the long term, that its assets will have at least a 12 per cent return on invested capital.