Longhaul Fleet Update

RNS Number : 2695S

International Cons Airlines Group

22 September 2014

 



LONGHAUL FLEET UPDATE

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.

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22 September 2014                                                                                                                              IAG07

Forward-looking statements:

Certain statements included in this announcement are forward-looking and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements can typically be identified by the use of forward-looking terminology, such as "expects", "may", "will", "could", "should", "intends", "plans", "predicts", "envisages" or "anticipates" and include, without limitation, any projections relating to results of operations and financial conditions of International Consolidated Airlines Group S.A. and its subsidiary undertakings from time to time (the 'Group'), as well as plans and objectives for future operations, expected future revenues, financing plans, expected expenditures and divestments relating to the Group and discussions of the Group's business plan. All forward-looking statements in this announcement are based upon information known to the Group on the date of this announcement. The Group undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. It is not reasonably possible to itemise all of the many factors and specific events that could cause the forward-looking statements in this announcement to be incorrect or that could otherwise have a material adverse effect on the future operations or results of an airline operating in the global economy.  Further information on the primary risks of the business and the risk management process of the Group is given in the Annual Report and Accounts 2013; these documents are available on www.iagshares.com.

 

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