Amid a summer season that is shaping up to be historic in terms of traffic volume and, therefore, also vulnerable to operational disruptions, Fernando Candela, the new President and CEO of Iberia, assured the airline’s workforce that the company is prepared to face the challenges ahead. In a letter addressed to the 18,500 employees, Candela marked the beginning of a new era for Iberia following the departure of Javier Sánchez-Prieto and pending the appointment of the company’s future leader.
Having previously served as Director of Transformation at IAG and CEO of Level, Candela is aware of the inherent fluctuations in the aviation industry. In his letter, he insisted that despite strong demand and customers’ continued desire to travel, the sector is highly volatile, more sensitive to changes in politics, society, economy, geostrategy, and climate.
One of Candela’s most significant tasks will be to manage the 1,000 million euro debt acquired by Iberia to stay afloat during the pandemic. Another challenge will be managing the 800 million euro debt backed by the ICO with annual repayments until 2026, all this with an operating profit margin on sales of 7%.
Candela arrives at Iberia at a time of change, with José Antonio Barrionuevo, Director of Strategic Planning and Finance since 2013, leaving the airline to join British Airways.
In addition, the new President of Iberia is under pressure to respond to significant external challenges, including high inflation, high fuel prices, and the unpredictable consequences of the conflict in Ukraine, which are complicating supplies throughout the entire value chain.
A key goal of Candela’s tenure will be to advance the acquisition of Air Europa, which is currently under review by the EU’s General Directorate for Competition. «In the coming months we will walk together to face these challenges, to continue improving the service to our customers and to continue growing, especially in the United States and Latin America, to advance in the purchase operation of Air Europa, which we believe is very important for the development of the hub in Madrid and its competitiveness with the rest of the hubs in northern Europe», the executive pointed out.
«You have my word that I will work tirelessly to continue making Iberia better every day. Together, we will achieve it. Happy summer to all, my full recognition to the magnificent work you are doing, and many thanks«, concludes Candela’s missive.
Fernando Candela has an extensive career within the Iberia Group. He has been CEO of LEVEL since 2019 and Director of Transformation at IAG since 2020. Previously, he served as CEO of Iberia Express for six years and as Director of Planning and Management Control at Air Nostrum, among other roles.
With nearly 30 years of experience in the aviation sector, Candela is an Industrial Engineer from the Polytechnic University of Valencia and has completed several executive training programs at institutions such as MIT, IE Business School, and IESE Business School. He has also worked for companies like Uralita and Andersen Consulting.
