2021 overview

We have seized opportunities to add more capacity than our competitors while strengthening our position on routes to Latin America. We are now operating almost 100 per cent of our pre-pandemic network although our capacity is still below 2019.

Our handling and maintenance divisions have done a great job and both businesses have generated positive results in 2021.

It was very disappointing in December that we had to terminate an agreement reached previously with Globalia to acquire Air Europa. However, we have committed to analyse alternative arrangements.

2021 has once again tested our ability to adapt to a very challenging environment.

Javier Sánchez-Prieto Chairman and Chief Executive Officer of Iberia

Key statistics

-8.4 %

Operating margin
+25.2 pts vly


-2 vly

-44.6 %

Ask change

Main P&L figures

€m/2021 vly
Total revenue before exceptionals 2,784 +525
Operating loss before exceptionals -234 +525
Operating loss after exceptionals -220 +1,191




In 2021, Iberia was able to increase the number of destinations in its network earlier than the other Group airlines due to exposure to markets with less COVID-related travel restrictions.

Domestic operations focused on connecting the Spanish peninsula with both the Canary and Balearic Islands. The company benefitted from the introduction of the EU Digital Covid Certificate in the summer with passenger load factors in the second half of the year significantly higher as a result.

LACAR was one of the most resilient regions throughout the year thanks to significant VFR (visiting friends and relatives) travel in 2021.

Iberia also operated regularly to Miami, New York, Dakar and restarted operations to Israel and Morocco when travel restrictions were eased.

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