New low-cost airline set for take-off in Barcelona

26th April 2006, Comments 0 comments

26 April 2006, MADRID – The Spanish airline Iberia has teamed up with four partners to launch a new budget airline in Barcelona.

26 April 2006

MADRID – The Spanish airline Iberia has teamed up with four partners to launch a new budget airline in Barcelona.

On Wednesday, it emerged that Iberia was investing EUR 24 million in the airline, which was expected to be called something with Mediterranean in the title and start its first flights in October.

The names Air Mediterráneo, Mediterránea Airlines and Mediterráneo Airlines have all been registered with the patent office. Air Mediterránea, Mediterráneo.com and Mediterránea.com are also in the process of being registered as possible alternatives.

Iberia's partners are Cobra, Iberostar, Nefinsa and capital risk group Quercus. Each company will own a 20-percent share and have all committed to keeping their investment in the firm for the next three years.

The plan is to start routes with five planes by the end of the year, increasing the fleet to 30 by 2008.

[Copyright EFE with Expatica]

Subject: Spanish news

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