Air Europa Commits to 2024-2026 Strategic Plan Amid IAG Withdrawal

Air Europa issued a statement this Friday (2) assuring that they will continue with their 2024-2026 Strategic Plan due to the «solidity and viability of their business project,» which «allows them to face a sustainable long-term future regardless of the decision of the multinational,» referring to IAG and their withdrawal from the race to acquire the Spanish airline announced yesterday. This, they clarify, while remaining aware of the instability of certain markets and the delays in the delivery of new aircraft.

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The strategic plan, they continue, «lays the foundations for its growth and activity, and ensures the consolidation of the airline at the Madrid-Barajas hub, as well as its role in connectivity between Europe and America,» guaranteeing «dynamism, strength, and solvency of the airline» based on the economic results of Air Europa’s last financial year and the positive trend of the first half of this year, during which operating revenue amounted to 1.364 billion euros, 6.5% more than between January and June 2023.

In terms of fleet, they point out that its unification around the 787 and 737 families has been fundamental to the strategy. In June, they received a new 787-9, while expecting the first 737 MAX before the end of the year. With one more 787-9 arriving this month, the total fleet will be 53 aircraft: 18 Boeing 737-800 (plus another 9 from Air Europa Express), 16 Boeing 787-9, 9 Boeing 787-8, and one A330-200.

The network has seen increased frequencies to destinations such as Asunción, Medellín, Panama, and Caracas, and flights to Santiago de los Caballeros and Venice were inaugurated.

«The company faces a sustainable and promising future with full determination and confidence, and maintains its firm commitment to offering quality service to its customers while continuing to be a benchmark in the aviation industry,» they concluded.

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Air Europa in America

Cirium shows that Air Europa has the following flight schedule between Spain and America during August:

• Madrid – Asunción: six weekly flights.
• Madrid – Bogotá: seven weekly flights.
• Madrid – Caracas: five weekly flights.
• Madrid – Córdoba: three weekly flights.
• Madrid – Cancún: four weekly flights.
• Madrid – Buenos Aires/EZE: seven weekly flights.
• Madrid – Sao Paulo/GRU: seven weekly flights.
• Madrid – Quito – Guayaquil: five weekly flights.
• Madrid – Havana: seven weekly flights.
• Madrid – New York/JFK: five weekly flights.
• Madrid – Lima: seven weekly flights.
• Madrid – Medellín: six weekly flights.
• Madrid – Miami: seven weekly flights.
• Madrid – Montevideo: four weekly flights.
• Madrid – Panama City: six weekly flights.
• Madrid – Punta Cana: five weekly flights.
• Madrid – San Pedro Sula: two weekly flights.
• Madrid – Santo Domingo: seven weekly flights.
• Madrid – Salvador: three weekly flights.
• Madrid – Santiago de los Caballeros: two weekly flights.
• Madrid – Santa Cruz de la Sierra: four weekly flights.

This represents an offer of 114 flights and 35,000 seats per week in each direction, the latter value being 9.7% higher than in August 2023 (and -5.7% compared to 2019).

Narrowing the market to Latin America and the Caribbean, Air Europa represents 7.7% of the seat offer from Europe, ranking third after Iberia (13.1%) and Air France (10.8%).

 

On the other hand, Air Europa’s European network covers fifteen destinations in Spain and thirteen in the rest of the continent, with an average offer of 1,130 flights and 220,000 seats per week. This latter figure is 6.3% higher than in August 2023 but still 14.1% lower than in 2019.