14th Jul 2014 07:47
LONDON (Alliance News) - International Consolidated Airlines Group PLC said Monday it has converted 20 of the 100 Airbus 320neo options it announced in August 2013 into firm orders.
The company said the aircraft will be delivered in 2018 and 2019 and will provide cost savings and environmental benefits. New technology and improved aerodynamics will lower fuel burn and CO2 emissions by 15%, said IAG, as well as providing both noise and NOx performance advantages.
Initially announced last year as part of a Vueling order for up to 120 Airbus A320 family aircraft, IAG had also secured 100 A320neo options. The remaining options can be used for any of the airlines in the group - British Airways, Iberia or Vueling - for aircraft replacement requirements, said IAG Monday.
The aircraft are currently intended to replace 21 shorthaul British Airways' aircraft but will be reallocated if the airline cannot make a profitable return from its shorthaul business, said the company.
Shares in IAG were trading 0.76% higher at 331.00 pence per share shortly after the open Monday.
By Alice Attwood; [email protected]; @AliceAtAlliance
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