Iberia sees opportunity in Latin America (with or without Air Europa)
Iberia has announced that its seat count to Latin America in 2024 will be up by 16% on 2023 (its highest ever capacity in that market) and up by 20% on 2019.
According to data from CAPA - Centre for Aviation and OAG, the Spanish flag carrier will offer 5.3 million seats to Latin America this year, compared with 4.6 million in 2023 and 4.5 million in 2019.
Iberia is the leading airline on Spain-Latin America routes, with 39% of seats in the week of 17-Jun-2024, while Air Europa is second with 21%.
If the acquisition of Air Europa by Iberia's parent IAG is approved, Iberia could control 60% of this market (subject to any regulatory remedies).
Regardless of the Air Europa deal, Iberia's growth this year demonstrates its belief that value-creating returns are once more available in post-pandemic Latin America.