International Airlines Group to Modernize Fleet with 53 Boeing and Airbus Aircraft Order

IAG, parent company of British Airways, has ordered 53 new aircraft from Boeing and Airbus. The order includes 32 Boeing 787-10s and 21 Airbus A330-900neo planes, with deliveries scheduled between 2028 and 2033. The procurement comes after a new trade agreement between the US and the UK, allowing IAG's airlines to modernize their fleets with more efficient and environmentally friendly models.

International Airlines Group (IAG), the parent company of British Airways, has placed orders for 53 new aircraft, including 32 Boeing 787-10 Dreamliners and 21 Airbus A330-900neo planes. The procurement comes after a new trade agreement between the United States and the United Kingdom, which has facilitated the deal [2].

The new aircraft are part of IAG's strategy to modernize its long-haul fleet with more efficient and environmentally friendly models. The Boeing 787-10 Dreamliners, which are already in service with British Airways, will be delivered between 2028 and 2033, while the Airbus A330-900neo planes will also be delivered during the same period. The Airbus aircraft will be fitted with wings made in Broughton, North Wales, and powered by Rolls-Royce Trent engines made in Derby [1].

The Boeing 787-10 Dreamliners, with a list price of $397 million each, will make the Boeing deal worth approximately $12.7 billion, although airlines rarely pay list price. The Airbus A330-900neo list price is $374 million, and the A350s have a list price of $356 million and $309 million for the -1000 and -900 respectively, putting the total value of the Airbus orders at around $12.2 billion [1].

IAG CEO Luis Gallego stated that the new aircraft will enable the group's airlines to grow and replace their long-haul fleets with modern, fuel-efficient planes. The new orders follow previous orders placed in March for six Airbus A350-900s for Iberia, as well as six Airbus A350-1000s and six Boeing 777-9s for British Airways [2].

The trade agreement between the US and the UK, which was announced recently, is expected to reduce tariff quotas on steel and automobiles, among other benefits. This agreement follows a free trade pact signed with India, which has been seen as a positive step for the UK's post-Brexit trade strategy [3].

The new aircraft orders and the trade agreement indicate a significant boost for IAG's long-term growth and competitiveness in the aviation industry.

References:
[1] https://ukaviation.news/iag-orders-53-long-haul-airliners-from-airbus-and-boeing-and-discloses-previous-order/
[2] https://seekingalpha.com/news/4445465-british-airways-owner-iag-orders-boeing-airbus-planes
[3] https://www.marketscreener.com/news/latest/God-Save-the-Deal-towards-a-US-UK-trade-agreement-49873467/