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IAG reaches deal with Boeing on long-haul fleet orders

British-Airways-787-600x400Owner of British Airways (BA) and Iberia, International Airlines Group (IAG), has reached an agreement with aircraft manufacturer Boeing for new long-haul aircraft for the group’s fleet. The order is currently subject to approval by IAG shareholders.

The company plans to convert 18 existing Boeing 787 options into firm orders for BA. These aircraft will replace some of the carrier’s Boeing 747-400 aircraft between 2017 and 2021.

For Iberia, IAG has reached agreement with Boeing to secure commercial terms and delivery slots that could lead to an order for Boeing 787s. Firm orders will only be made when Iberia has restructured and reduced its cost base and is in a position to grow profitably.

Willie Walsh, IAG chief executive, said, ‘British Airways has 24 Boeing 787s on order already and we plan to boost this by a further 18 aircraft by exercising our options.   

‘The aircraft offers a step change in fuel burn efficiency versus our existing aircraft with improvements in fuel cost per seat of more than 20 per cent.

‘New technology engines and improved aerodynamics will lower fuel burn leading to reduced carbon and NOx emissions.’

Iberia has 31 wide-body long-haul aircraft in its fleet with six Airbus 330 aircraft already ordered.