Iberia to invest in new budget airline service

1st March 2006, Comments 0 comments

1 March 2006, MADRID — Iberia chairman Fernando Conte said the Spanish airline did not plan to create a low-cost airline but would invest in a new service of that sort without taking on a management role.

1 March 2006

MADRID — Iberia chairman Fernando Conte said the Spanish airline did not plan to create a low-cost airline but would invest in a new service of that sort without taking on a management role.

Conte said in a press conference that "we are seriously studying" participating in a venture and "are, in fact, currently negotiating with different potential partners for this".

"We're not going to mix Iberia's international airline with the low cost, because what we want is to invest in such a carrier and not get involved in its management," he said.

Airline industry sources told EFE the low-cost carrier being discussed would be based in Barcelona and operate out of Prat airport there, and Iberia would have an approximately 20 percent stake in the venture.

Barcelona is the main hub for other low-cost airlines already operating in Spain.

[Copyright EFE with Expatica]

Subject: Spanish news

0 Comments To This Article