IAG CEO Walsh to Renew Iberia Fleet After Earnings Recovery
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British Airways parent IAG SA plans to buy new aircraft for its Iberia arm after the Spanish unit cut losses, according to Chief Executive Officer Willie Walsh, who had made fleet renewal contingent on improved earnings.
IAG will most likely place an order that would firm up potential purchases already agreed with planemakers, Walsh said in an interview in Qatar. Iberia, whose requirements include replacing aging A340 long-haul jets, has options for as many as 32 Airbus Group NV A350s and 12 Boeing Co. 787s.