Iberia Maintenance Contributes To IAG Recovery
Iberia’s third-party maintenance business has contributed to a huge jump in IAG Group’s non-core revenues, which rose to €904 million ($916 million) for the first six months of the year—triple the prior-year result and also higher than the equivalent pre-pandemic figure.
The group’s passenger and cargo sales in the first half were roughly €8.4 billion, more than four times higher year on year.
And while the group stayed in the red on a six-month basis, recovery was evident in its €133 million profit for the April-June quarter, following a €981 million loss in the same period last year.
Some of Iberia Maintenance’s work over the period including returning stored Airbus A320-family aircraft to service.
This work included normal return-to-service tasks such as cover removals, systems tests and brake checks, but also heavy maintenance work for aircraft that had reached the necessary interval and for some at end of lease.
The Spanish MRO provider said it has returned 38 narrowbodies to service over the past 10 months for its “customer base,” although it did not specify whether this meant IAG airlines or third parties.
IAG’s latest fleet statement shows eight more A320ceos and two more A319ceos in service than at the start of the year. On Jun. 30, it also showed 18 aircraft not in service, down from 29 on Dec. 31, 2021.
In its recent results, IAG noted that “four shorthaul aircraft previously assumed permanently stood down have now been added back to the Group’s fleet plans.”
Between 2025-28 the group plans to replace its current-generation A320-family aircraft with Neo models
IAG recently converted 12 Airbus A320neo options into firm orders for A320neos and A321neos, and placed an order for a further 25 A320neo-family aircraft with the option to purchase 50 additional aircraft.