Iberia will offer a record 5.3m seats between Europe and Latin America over the course of 2024.
The Spanish carrier is doubling down on what is a popular market for them through this enhanced offering.
Without further ado, let’s get into it…
Breakdown of the Europe & Latin America Market with Iberia…
The 5.3m seats on offer between Europe and Latin America represents a 16% increase compared to last year with Iberia.
In 2023, there was 4.6m seats on offer, so you can see the significant difference there.
This has been thanks to the numerous Airbus A350 aircraft that the carrier has received in recent months.
Within this, it is understood that Argentina, Brazil, the Dominican Republic & Puerto Rico will benefit the most from extra flights.
Below is the breakdown of what Iberia have been doing and are doing over the course of 2024:
- Argentina:
- Flights between Argentina and Spain will operate three daily, a 50% increase.
- Brazil:
- Increased flights to Sao Paulo to 14 weekly for the next winter season. This is an increase from 7 to 10 weekly made in April and 11 weekly this month.
- Rio de Janeiro has been expanded to six weekly since June.
- Colombia:
- Madrid to Bogota to be increased to 21 weekly frequencies throughout this year.
- Peru:
- Services to Lima will increase to 13 weekly.
- Chile:
- Between June & September, Santiago will experience an increase to 11 weekly flights.
- For the rest of the year, this will remain at 10 weekly.
- Ecuador:
- Seven weekly flights into Quito and three weekly flights into Guayaquil.
- Uruguay:
- Increased flights to once daily.
- Venezuela:
- Increased flights to five times per week.
- Caribbean:
- Puerto Rico to increase to seven weekly frequencies.
- Havana, Cuba set at three weekly frequencies.
- Central America:
- Madrid to Costa Rica, Guatemala and El Salvador maintain daily flights.
- Flights to Panama City will have four weekly flights throughout this year.
What we can see from that lengthy list is that Iberia is strengthening flights between Europe and Latin America over the course of this year.
Aiming to Follow The Strong Profit From 2023 in 2024…
Such a strengthening of it’s operation comes following what was a successful 2023 for the airline.
Back in February, it was revealed by IAG that the Spanish carrier had posted strong financials.
For the full-year 2023, Iberia posted an operating profit of €940m profit, from revenues of nearly €7bn.
This is a major improvement compared to 2022.
In 2022, the airline recorded €1.4bn in revenues, which resulted in a profit of €396m overall.
Like with the rest of the airlines in the IAG umbrella, costs have gone up, which are as follows:
- Fuel, oil costs & emissions charges – From €183m to €1.5bn.
- Employee Costs – From €123m to €1.2bn.
- Supplier Costs – From €543m to €2.8bn.
- Ownership Costs – From €47m to €411m.
Despite this, the airline has thrived well, and appears to be doing the same throughout 2024 so far.
Overall…
It remains clear that Iberia continues to form more of a powerhouse from Madrid with these extra flights between Europe & Latin America.
Furthermore, as demand has risen year-on-year from the pandemic era, the Spanish carrier has exploited this through additional growth.
Looking ahead, all eyes will be on how the Summer 2024 season performs for the carrier on the aforementioned routes.
If things go well, as they expect to in this busy period, then there will be scope to expand this further going into 2025.
And if that’s the case, then we can expect to see revenues and profit soar further going into the future.
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