Iberia Express is aiming for profitability in its first year of operation.

Speaking to Flightglobal Pro at the launch of the low-cost carrier in Madrid, Iberia's chief exectuive officer Rafael Sanchez-Lozano says Iberia Express will be profitable in "year zero".

According to Sanchez-Lozano, Iberia Express will have a capitalisation of €20 million ($26 million).

The new carrier started operations on 25 March and focuses on short- and medium-haul routes for Iberia Hub in Madrid.

"Iberia Express is key to Iberia. We have to ensure profitability on short- and medium-[haul] routes," he says.

Source: Flightglobal


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