IAG orders 31 Airbus planes as seeks to modernise Iberia fleet

British Airways and Iberia holding company International Airlines Group (IAG) said Thursday it had ordered 31 Airbus plans, including firm orders for 11 longhaul craft for its Spanish airline.

The order by Anglo-Spanish IAG, which includes eight A350-900 and three A330-300 widebody craft for Iberia -- covers a total of 31 Airbus planes with a book value of $4.6 billion (4.2 billion euros).

"International Airlines Group (IAG) is converting eight A350-900 and three Airbus A330-200 long-haul aircraft options into firm orders for Iberia. These aircraft will be delivered between 2016 and 2021 and will enable Iberia to replace and expand its existing longhaul fleet," IAG said in a statement.

Reinforcement of the Iberia fleet follows a difficult period for the carrier in recent years, which required heavy restructuring to improve its financial performance.

IAG also said it had converted options it took in 2013 into firm orders for 20 Airbus 320neo planes to facilitate fleet replacement for the group airlines that also include low-cost Spanish company Vueling, and Aer Lingus of Ireland which it is in the process of acquiring.

"The aircraft will be delivered between 2020 and 2021 and can be used by any airline in the Group for fleet replacement. These modern, fuel efficient aircraft will bring both cost efficiencies and environmental benefits to the airlines' fleet," it said.