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|Airbus A350 Orders|
RNS Number : 9363C
International Cons Airlines Group
22 April 2013
AIRBUS A350 ORDERS
International Airlines Group (IAG) is ordering Airbus A350 aircraft for the group's longhaul fleet.
For British Airways, there are 18 A350-1000 firm orders, plus 18 options. These are in addition to 18 Boeing 787 options which IAG announced previously that it plans to convert into firm orders.
The A350 and Boeing 787 firm orders will be used to replace 30 Boeing 747-400 aircraft between 2017 and 2023 while the options can be used to replace aircraft or provide opportunities for growth.
For Iberia, IAG has also reached agreement with Airbus as well as Boeing to secure commercial terms and delivery slots that could lead to firm orders for A350s and/or Boeing 787s. Firm orders will only be made when Iberia is in a position to grow profitably, having restructured and reduced its cost base.
The A350 will be powered by Rolls-Royce Trent XWB engines. The order includes a comprehensive maintenance package with total care agreement.
Willie Walsh, IAG chief executive, said: "The A350-1000 will bring many benefits to our fleet. Its size and range will be an excellent fit for our existing network and, with lower unit costs, there is an opportunity to operate a new range of destinations profitably. This will not only bring greater flexibility to our network but also more choice for our customers.
"Both aircraft will provide further cost efficiencies and environmental benefits with fuel cost per seat improvements of more than 20 per cent.
"This order will also secure jobs in Britain and Spain. The A350's wings are made in Britain while its horizontal tail plane, horizontal tail plane boxes and lower wing covers are made in Spain. Rolls-Royce Trent XWB engines are assembled in Britain".
The fleet order is subject to approval by IAG shareholders.
April 22, 2013 IAG13
Notes to editors
British Airways has 118 wide-bodied longhaul aircraft in its fleet with 42 aircraft (12 A380s, 24 B787s, six B777-300ERs) already ordered.
Iberia has 31 wide-bodied longhaul aircraft in its fleet with six A330 aircraft already ordered.
Certain information included in these statements is forward-looking and involves risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the forward-looking statements.
Forward-looking statements include, without limitation, projections relating to results of operations and financial conditions and International Consolidated Airlines Group S.A. (the 'Group') plans and objectives for future operations, including, without limitation, discussions of the Company's Business Plan, expected future revenues, financing plans and expected expenditures and divestments. All forward-looking statements in this report are based upon information known to the Company on the date of this report. The Company 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 Company's forward-looking statements 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 2012; these documents are available on www.iagshares.com.
This information is provided by RNS
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