01.03.06
Spannish airline Iberia could jump into the coveted low-cost airline market by becoming a partner in a new discount carrier, Chairman Fernando Conte said yesterday. Conte said the company is currently 'in talks with a diverse group of potential partners' to become an investor in an upstart no-frills airline.
Traditional airlines such as Iberia, Spain's largest airline by sales and passengers carried, have seen their market share in Europe dented at the expense of discount carriers like Ryanair and easyJet. Iberia missed profit targets in 2005 in part because of competition from low cost competitors.
Conte added: 'Iberia wouldn't be involved in the management of a new company,' adding that the company's know-how is best used in other business segments. He added that Iberia's involvement would be solely on investment grounds.
