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Iberia awarded “CAPA Airline Turnaround of the Year Prize” for 2016

Luis Gallego, Iberia’s Chairman and CEO receives the award from Peter Harbison, CAPA’s Executive Chairman

Luis Gallego, Iberia’s Chairman and CEO receives the award from Peter Harbison, CAPA’s Executive Chairman

Award by CAPA finds Iberia’s transformation an innovative process in the airline business.
Iberia was given this year’s award for the “Airline Turnaround of the Year” at the annual gala dinner hosted by CAPA, the leading airline market analysis and data provider, which was held this year in Amsterdam.
The award recognises Iberia’s transformation process as the most impressive and innovative amongst airlines.
In the decision of the Jury, Iberia’s financial results played a key role. In 2014 the airline logged its first operating profits since the outbreak of the economic crisis, and increased them five-fold in 2015, while expanding the operating margin to 5.2%, its highest level since 2005. CAPA pointed out that these results coincided with double-digit capacity growth, and that the airline headed by Luis Gallego was the biggest contributor to ASK growth at IAG in 2015.
CAPA’s Executive Chairman Peter Harbison said that “Iberia’s turnaround in the challenging Spanish market has been remarkable. Iberia has achieved major labour productivity improvements, quite an accomplishment in Europe, and unit cost reductions. Strategically the establishment and expansion of Iberia Express has demonstrated that it is possible for legacy European airlines to combine an LCC cost base with a full service brand”

Luis Gallego, Iberia’s Chairman, commented: “This award is a recognition of the commitment and efforts of all Iberia employees, the real protagonists of our transformation process. It certainly encourages us to continue on the path we have marked out to consolidate the achievements made so far.”
Among the other winners of the 2016 CAPA Aviation Awards for Excellence were Qatar Airways, as “Airline of the Year”, and Tony Fernandez, Air Asia CEO, as “Airline Chief Executive of the Year”.

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Categorised in: Aerospace, Airline, News

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