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Iberia, Lineas Aereas de Espana,S.A.

Company Profile

Publication Date: 17 Oct 2011

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Iberia, Lineas Aereas de Espana, S.A.

TABLE OF CONTENTS

Company Overview..............................................................................................4

Key Facts...............................................................................................................4

Business Description...........................................................................................5

History...................................................................................................................7

Key Employees...................................................................................................10

Key Employee Biographies................................................................................11

Major Products and Services............................................................................17

Top Competitors.................................................................................................18

Company View.....................................................................................................19

Locations and Subsidiaries...............................................................................21


Iberia, Lineas Aereas de Espana, S.A.TABLE OF CONTENTS

COMPANY OVERVIEW

Iberia Lineas Aereas de Espana (Iberia) is engaged in the air transportation of passengers andcargo. It also provides support services for passengers and planes in airports, and aircraftmaintenance. Iberia operates a network serving three markets including Spain, Europe and theAmericas. The company primarily operates in Europe and the Americas. It is headquartered inMadrid, Spain and employs around 21,592 people.

The company recorded revenues of E4,582 million (approximately $6,084.4 million) in the fiscal yearended December 2010, an increase of 8.3% over 2009. The company's operating loss was E26million (approximately $34.5 million) in fiscal 2010, as compared to an operating loss of E475 million(approximately $630.7million) in 2009. Its net profit was E89 million (approximately $118.2 million)in fiscal 2010, as compared to the net loss of E273 million (approximately $362.5 million) in 2009.

KEY FACTS

Iberia, Lineas Aereas de Espana, S.A.Head OfficeCalle Velazquez 13028006 MadridESP

34 91 587 75 74Phone

Fax

http://grupo.iberia.esWeb Address

4,582.0Revenue / turnover(EUR Mn)

DecemberFinancial Year End

21,592Employees

IBLABolsa de MadridTicker


Iberia, Lineas Aereas de Espana, S.A.Company Overview

BUSINESS DESCRIPTION

Iberia Lineas Aereas de Espana (Iberia) is an international air transport group engaged in the transportof passengers and freight. The company operates flights from Spain to Europe and from Europe toLatin America. Iberia has a fleet of 161 aircraft and flies to 116 destinations in 45 countries. Iberiaalso maintains its own fleet and those of other airlines, and performs aircraft and passenger handlingservices at all Spanish airports, amongst other activities.The company is a member of the oneworldalliance, which allows it to extend its air transport business worldwide.

The company operates through three business activities which include: transportation of passengersand cargo; aircraft maintenance; and handling services in airports.

Iberia is primarily engaged in business of transport of passengers and cargo. The company flies tomore than a 100 destinations in 45 countries, and, under code-sharing arrangement with othercarriers it reaches another 190 cities. In addition, it offers its customers the air corridor: theMadrid-Barcelona Puente Aereo, the walk-on shuttle service connecting Spain two most importantcities.

The company offers 35 destinations in Spain; 43 destinations and another 30 under code-sharingwith other airlines in Europe; 11 destinations and 13 under code-sharing in Africa; 26 destinationsand another 129 under code-sharing in America; and one destination and 12 under code-sharing inNear and Far East and Oceania.

Iberia and its franchise partner Air Nostrum operates Iberia Regional/Air Nostrum which has 67aircraft and flies to about 60 destinations in Spain, elsewhere in Europe, and in North Africa.Vueling,a new generation airline owned by Iberia, with a 45.85% stake, and another two partners, Nefinsa(5%) and Inversiones Hemisferio (14%). Vueling is a new generation airline owned by Iberia with a45.85% stake, and another two partners, Nefinsa (5%) and Inversiones Hemisferio (14%). Vuelinghas a fleet of 35 aircraft serving 45 destinations in Spain, Europe and North Africa.

Iberia cargo manages air freight and mail carried in the holds of Iberia’s airliners, and well as dedicatedcargo planes, and a fleet of ground delivery vehicles. Iberia through its Cacesa subsidiary providesan express parcel service. Iberia cargo provides all-electronic, paperless procedures for air shipmentoperations.

Iberia maintenance carries out inspections and repairs of airframes, aircraft engines, and componentsfor the Iberia fleet and other customers from all over the world. The company's maintenance andrepair activities are carried out in seven hangars and numerous workshops and bench-testing facilitieson a 2.5 million m2 site adjoining Madrid-Barajas Airport.

Iberia supplies airport handling services such as servicing aircraft, handling baggage, and servingpassengers at 41 Spanish airports. The handling division has a fleet of 11,000 ground vehicles and8,170 equipments.


Iberia, Lineas Aereas de Espana, S.A.Business Description

The company also provides other business services such as information technology (IT) andtelecommunications services to its airline and outside clients. Its services include IT systemsdevelopment processes, maintenance of IT systems and data processing centre, user care andsupport, management of procurement of IT products and services and technical assistance services.


Iberia, Lineas Aereas de Espana, S.A.Business Description

HISTORY

Iberia Lineas Aereas de Espana (Iberia) was founded in 1927 by Horacio Echeberrieta. In the sameyear, the company began a regular service between Madrid and Barcelona. In the following year,Iberia started with three Rohrbach Roland aircraft.

The company initially focused on domestic routes until 1939, when regular services commencedbetween Madrid and Lisbon.

The Spanish government took control of the company in 1944, and extra state funding facilitatedfurther growth, with a new service connecting Madrid with London and Rome commencing in 1946.Shortly afterwards regular flights to Havana, Caracas, Puerto Rico, Mexico City, Rio de Janeiro, andNew York were added to the schedule.

The 1960s marked the start of the jet age of aircraft, and Iberia replaced its Super Constellationswith DC-8s on the Madrid-New York route.

Iberia purchased Boeing B-747, popularly known as the Jumbo in 1970. Later in 1974, the companylaunched Europe’s walk-on air shuttle service, between Madrid and Barcelona.

In 1975, Iberia established Serviberia (formerly Inforiberia), a provider of customer service. In 1987,Iberia and another three European airlines joined to create Amadeus, a world-wide computerizedair ticket reservations system.

The company joined the Oneworld airline alliance along with American Airlines, British Airways, AirLingus, LAN Chile, Cathay Pacific, Finnair, and Qantas in 1999.

Iberia’s privatization process was completed in 2001, and its shares were listed for the first time onthe stock exchange. In the following year, Iberia was included in the selective Ibex-35 stock marketindex.

Iberia signed an agreement with British Airways for the joint operation of routes between London,Madrid, and Barcelona in 2004.

In 2005, Iberia launched Business Plus, an enhanced seating and service class for intercontinentalbusiness travellers.

Iberia Airline launched its Madrid-Boston route, becoming the first and only scheduled airline offeringnon-stop flights between the two cities, in 2007. In the same year, Iberia signed maintenance contractwith Cygnus Air to maintain its B-757.


Iberia, Lineas Aereas de Espana, S.A.History

In 2008, Iberia LAE, a subsidiary of the company, signed a joint venture agreement with SingapurTechnologies Aerospace, to establish Madrid Aerospace Services, S.L., an aircraft maintenancecompany specialized in landing gear.

Iberia, American Airlines, and British Airways signed a joint business agreement on flights betweenNorth America and Europe and planned to expand their global cooperation in the same year.

The company reorganised and renamed its airport handling services unit as Iberia Airport Servicesin March 2009. In the same month, Iberia Cargo appointed North Air Logistics as its General Salesand Service Agent (GSSA) in Denmark, Sweden, Norway and Finland, to provide full sales, customerservice and support functions for Iberia Cargo’s operation in the Nordic countries.

In 2009, Iberia launched daily return flight between Madrid and Sofia under a code-sharingarrangement with Bulgaria Air. In the same year, Iberia Cargo appointed Air Logistics Group as itsexclusive GSSA in the Czech Republic, Croatia, Hungary, Poland, Slovakia, Romania and Greecein order to improve its service in Central and Eastern Europe. Also in the same year, Iberia and STAerospace opened Madrid Aerospace Services (MAeS), a company created jointly for the maintenanceand repair of landing gears for Airbus A-320, A-330 and A-340. Furthermore in 2009, Iberia signedtwo new contracts to maintain Rolls-Royce aircraft engines - RB211-535-E4 belonging to Russia’sYakutia Airlines.

Iberia offered three direct flights each week, on Tuesdays, Fridays and Sundays to two new Braziliandestinations Fortaleza and Recife in September 2010. In the same month, the company launchedflights to San Salvador.

In October 2010, the company launched flights to Cordoba, Argentina and also launched non-stopPanama flights. In the same month, Iberia in a joint business agreement with American Airlines andBritish Airways launched three direct flights a week to Los Angeles.

The shareholders of Iberia and British Airways approved the merger of the two companies inNovember 2010. In the same month, Iberia signed a code-sharing agreement with the Russiancarrier S7 for flights to Rostov, Kazan, Samara, Krasnodar and Perm.

In December 2010, under the joint business agreement signed by Iberia, American Airlines andBritish Airways, a new transfer centre in Iberia's terminal four passenger hub at the Madrid-Barajasairport was opened to assist passengers flying between Europe and North America. In the samemonth, Iberia offered 41 new routes in code share with American Airlines and British Airways.

International Airlines Group (IAG) was formed as the holding company of British Airways and Iberiain January 2011.

In March 2011, Iberia launched two new routes between Spain and the US which include New YorkJFK-Budapest and Chicago-Helsinki. In the same month, Iberia purchases 16 new aircraft AirbusA330.



The company offered new destinations to Abu Dhabi, Kuwait, Doha, Bahrain, Muscat and CapeTown in the Middle East and South Africa in April 2011.

Iberia airport services (IBAS) and airberlin signed an agreement under which Iberia’s handling divisionwill provide ramp and passenger services for Air Berlin at the airports of Gran Canaria and bothTenerife North and Tenerife South in the Canary Islands for three years starting in mid-June, in May2011. In the same month, Iberia offered new destinations offers flights to Accra (Ghana), Lusaka(Zambia), Riyadh and Jeddah (Saudi Arabia).

In June 2011, the company launched freighter services to Brussels and Nouakchott. In the samemonth, Iberia launched non-stop flight between Barcelona-El Prat and Sao Paulo-Guarulhos routewith 100% seat occupancy.

Iberia launched a new direct Madrid-Rabat service, with flights on Mondays and Fridays in July 2011.In the same month, Iberia and airberlin signed code share agreement for sharing flight codes. Iberia'scode will go on several airberlin routes in Germany and to other central and northern Europeandestinations, and airberlin's code will be used on Iberia flights to Germany and Switzerland.

In August 2011, Iberia and British Airways launched new destinations under code share: Sydney,Caracas, Santo Domingo and Montevideo.



KEY EMPLOYEES

BoardJob TitleName

Executive BoardChairmanAntonio Vazquez Romero

Executive BoardChief Executive OfficerRafael Sanchez Lozano Turmo

Non Executive BoardVice ChairmanRodrigo de Rato y Figaredo

Non Executive BoardDirectorJose Manuel Fernandez Norniella

Non Executive BoardDirectorJavier Gomez-Navarro Navarrete

Non Executive BoardDirectorJorge Pont Sanchez

Non Executive BoardDirectorJose Manuel Serra Peris

Non Executive BoardDirectorKeith Williams

Non Executive BoardDirectorRoger Paul Maynard

Non Executive BoardIndependent DirectorFelipe Benjumea Llorente

Non Executive BoardIndependent DirectorAntonio Masa Godoy

Non Executive BoardIndependent DirectorJose Pedro Perez Llorca Rodrigo

Non Executive BoardIndependent DirectorJose B Terceiro Lomba

Senior ManagementSecretaryLourdes Maiz Carro


Iberia, Lineas Aereas de Espana, S.A.Key Employees

KEY EMPLOYEE BIOGRAPHIES

Antonio Vazquez Romero

Board: Executive BoardJob Title: ChairmanSince: 2009Age: 60

Mr. Romero has been Chairman at Iberia Lineas Aereas de Espana since 2009. He held differentpositions in the Osborne Group, as Manager of subsidiaries at Osborne, S.A. and General Managerat Osborne Mexico. Mr. Romero worked in the Domecq Group as Commercial Manager at DomecqMexico and General Manager at Domecq Internacional, S.A. He held different positions at Tabacalera,S.A. and Altadis, S.A.: such as International Development Manager at Tabacalera; General Manager,Cigars at Tabacalera; General Manager, Cigar Division at Altadis; Chairman at Altadis, S.A.; Chairmanat Logista; Chief Executive Officer at Altadis, S.A. and Director at Aldeasa. Mr. Romero holds aBachelor of Science in Economics from Malaga University.

Rafael Sanchez Lozano Turmo

Board: Executive BoardJob Title: Chief Executive OfficerSince: 2009Age: 54

Mr. Turmo has been the Chief Executive Officer at Iberia Lineas Aereas de Espana since 2009.From 1984 to 1989, he held several positions at Manufacturers Hanover Trust such as DirectorCredits Department and Manager, Corporate Finance. Mr. Turmo served as a Accounts Managerand Manager, Credits, Spain at J.P. Morgan. He also served as a Director at Grupo Su Casita,Hipotecaria Su Casita, City National Bancshares, City National Bank, Florida, Holding de InversionesSalovel, Vice Chairman and Trustee at Fundacion Padre Garralda and Joint and Several Directorat CM Florida Holdings. Mr. Turmo holds a Bachlor of Arts in Law, ICADE, and a Bachelor of Art inBusiness Studies.

Rodrigo de Rato y Figaredo

Board: Non Executive BoardJob Title: Vice ChairmanSince: 2010Age: 62


Iberia, Lineas Aereas de Espana, S.A.Key Employee Biographies

Mr. Figaredo has been the Vice Chairman at Iberia Lineas Aereas de Espana since February 2010.He holds 25 years’ experience as a Member of Parliament and member of the Executive of Spain’sPopular Party (Partido Popular). Mr. Figaredo was the Spokesman of the Popular Party parliamentarygroup from 1989 to 1996 and served as theVice President and Minister of Economy and Finance ofthe Spanish Government from 1996 to 2004. He also served as President of the European Councilof Finance Ministers during the introduction of the euro (2002) and as Managing Director of theInternational Monetary Fund (2004). Mr. Figaredo is currently the Chairman of the Board of Directorsof Caja Madrid,Vice Chairman of the Board of Directors of CECA, member of the Board of Directorsof MAPFRE and member of the Board of Trustees of the Teatro Real in Madrid. He studied BA inLaw from Universidad Complutense, Madrid, Master in Business Administration from University ofCalifornia and PhD in Economics from Universidad Complutense, Madrid.

Jose Manuel Fernandez Norniella

Board: Non Executive BoardJob Title: DirectorSince: 2007Age: 66

Mr. Norniella has been a Director at Iberia Lineas Aereas de Espana since 2007. He held severalpositions as business agent from 1970 to 1979 in Electromecanique, Alfa-Laval and Blactone; thenseveral management positions from 1979 to 1993 in the Brown Boveri Group, as Supplies Manager,and subsequently in Aesa Brown Boveri (ABB) as General Affairs Manager and General ManagerAdministration. He served as the Vice Chairman at Aldeasa and Chairman of Ebro Puleva from 2000to 2005. He was on the Boards of RTVE, Argentaria, Aldeasa, Chilectra, Endesa and Enagas. Mr.Norniella served as a Member of the International Chamber of Commerce and Chairman of theCouncil of Spanish Chambers of Commerce from 1996 to 2005. He served as the Vice Chairmanat the W.S.R. Mr. Norniella is a Member of the board of Caja Madrid, representing the depositors,Director of Telvent, Honorary Chairman of the Ebro Puleva Group and Vice Chairman of EquipoEconomico.

Javier Gomez-Navarro Navarrete


Mr. Navarrete has been a Director at Iberia Lineas Aereas de Espana since 2008. He began hisprofessional career at Alcudia, S.A. Petroquímica in 1971 and furthered his professional experienceat FRASER ESPANOLA (energy and mining consultancy) from 1972 to 1975. Mr. Navarrete servedas the Manager of Cuadernos para el Dialogo publishing company from 1976 to 1978 and gainedfurther business experience from 1979 to 1983 at Tania publishing company and was editor of Viajarmagazine which he founded in 1978. During this period he was Managing Director of the Ortega yGasset Foundation. Mr. Navarrete served as the Chairman of Viajes Marsans; Secretary of State



for Sports and Chairman of ADO92, the Olympic Sports Association from 1987 to 1993;Vice-Presidentof the Organizing Committee of the Barcelona 92 Olympic Games; Minister of Trade and Tourismfrom 1993 to 1996; and Chairman of MBD, a business consulting firm, from 1998. Mr. Navarrete iscurrently the Chairman of Aldeasa and Director of major companies such as Autogrill, Ibérica deDiagnóstico y Cirugía, Técnicas Reunidas and Isolux-Corsan. He holds BSc Industrial ChemicalEngineering form Escuela Tecnica Superior de Ingenieros Industriales, Madrid.

Jorge Pont Sanchez


Mr. Sanchez has been a Director at Iberia Lineas Aereas de Espana since 2006. He served asAssistant Professor of Commercial Law at the Faculty of Law and Economic Sciences of Universidadde Barcelona from 1960 to 1964. In 1965, Mr. Sanchez joined El Corte Ingles where he serves asAdvisor to the Chairman and Chief International Affairs. In addition, he took the responsibility ofDirector of the Foundation Ramon Areces, Chairman of Sephora Cosmeticos de Espana, Directorof Parque Tematico de Madrid, Chairman at The Harris Company (the US), Director of Gottschalks(the US). He holds a degree in Law.

Jose Manuel Serra Peris


Mr. Peris has been a Director at Iberia Lineas Aereas de Espana since 2010. He held severalpublic-sector positions including State Attorney at the Tax Office of Las Palmas de Gran Canaria,of Valencia and at the Valencia High Court from 1984 to 1996 and Secretary of State for Industryand Energy from 1996 to 2000. Mr. Peris was former Chairman of the Spanish Patents andTrademarks Office, Chairman of CIEMAT (Centre for Energy, Environmental and TechnologicalResearch) and Chairman of CDTI. He served as a Director of Sociedad Estatal de ParticipacionesIndustriales, Sociedad Estatal de Participaciones Patrimoniales, Endesa, Red Electrica De Espana,S.A., Uralita, S.A. and Cable y Television de Cataluna, S.A. (MENTA) -AUNA Group. Mr. Peris iscurrently a Director of Grupo Empresarial Ence, S.A. and Corporacion Financiera Alba, S.A. Heholds BA in Law from Universidad de Valencia (1981).

Keith Williams

Board: Non Executive BoardJob Title: Director



Since: 2009Age: 55

Mr. Williams has been at Director at Iberia Lineas Aereas de Espana since 2009. He served severalexecutive positions atThe Boots Co (1986-1991), Apple Computer (Treasurer) in Paris (1991-1996);and Reckitt and Coleman (1996-1998). Mr. Williams has been Chief Finance Officer and ExecutiveDirector at BA since 2006. He also served as a Non Executive Director at Transport for London, agovernment organisation responsible for surface and underground transport in London. Mr. Williamholds a Bachelor of Arts Degree in Medieval History from Liverpool University.

Roger Paul Maynard


Mr. Maynard has been a Director at Iberia Lineas Aereas de Espana since 2006. He served asGovernment Official of the UK from 1965 to 1987 at the Department of Trade, Industry and Transport.Mr. Maynard joined the Diplomatic Service in Geneva, where he worked from 1968 till 1972 and inWashington from 1982 to 1987 and then became Director of Aviation. In addition, he was appointedas Director for Governmental Affairs in North Americaby British Airways. Mr. Maynard subsequentlybecame Executive Director North America before returning to the UK as Director for Investor Relations.He obtained a degree in Economic Sciences from Queens College at Cambridge in 1965.

Felipe Benjumea Llorente

Board: Non Executive BoardJob Title: Independent DirectorSince: 2007Age: 54

Mr. Llorente has been an Independent Director at Iberia Lineas Aereas de Espana since 2007. Heis the Executive Chairman at ABENGOA, Chairman of the FOCUS-ABENGOA Foundation, Chairmanat Inversion Corporativa, Director of Compania Operadora del Mercado Espanol de la Electricidad(OMEL), and Director, member, of the Spanish Energy Club-Club Espanol de la Energia. Mr. Llorenteis also Trustee of the Spain–United States Council Foundation, Trustee of the Foundation of Studiesand Applied Economy (FEDEA) and on the Board of Governors of the Pontifical University ofSalamanca. From 1993 to 1996, he served as the Board member of Sociedad General de Cablevision,La Papelera Espanola from 1987 to 1995, Thyssen Industrie from 1989 to 1993, Hispano Inmobiliariade Gestion from 1989 to 1998 and Banco Santander Central Hispano from 1990 to 2002. He holdsa degree in Law from Deusto University.

Antonio Masa Godoy




Mr. Godoy has been an Independent Director at Iberia Lineas Aereas de Espana since 2007. Hehas held managerial posts at Compania de Seguros Hercules Hispano and Cartex. He served asthe Vice Chairman of CEOE. Mr. Godoy is the Chairman at Inversiones Varias Extremenas andDirector of Corporacion Empresarial de Extremadura, Tecnicas Urbanas y Rusticas, Proyectos yPromociones del Tormes, Instituto de Estudios Economicos. Mr. Godoy also serves as the ViceChairman of Instituto de Estudios Farmaceuticos and as Director of Refineria Balboa.

Jose Pedro Perez Llorca Rodrigo


Mr. Rodrigo has been an Independent Director at Iberia Lineas Aereas de Espana since 2007. Heis a Member at Carrera Diplomatica y Letrado de las Cortes. Mr. Rodrigo served as Minister ofForeign Affairs, Secretary of State for the Home Department and Minister of State. In addition, heheld positions at Urquijo leasing, AEG Iberica and Sociedad Rectora de la Bolsa de Madrid. He isthe Founder and Solicitor at Law firm Perez-Llorca. He holds a degree in Law.

Jose B Terceiro Lomba


Mr. Lomba has been an Independent Director at Iberia Lineas Aereas de Espana since 2007. He isthe Head, Applied Economics Department at Universidad Complutense de Madrid. Mr. Lomba alsoserves as the President at Bioetanol Galicia and Director at Grupo Prisa, Executive Vice Presidentat Abengoa, as well as Director at Telvent and Union Fenosa.

Lourdes Maiz Carro

Board: Senior ManagementJob Title: SecretarySince: 2001Age: 52



Ms. Carro has been the Secretary at Iberia Lineas Aereas de Espana since 2001. From 1982 to1988, she lectured Metaphysics and Theory of Knowledge at the Philosophy Faculty of UniversidadComlutense de Madrid, being part of the Governmental Program for Personal Investigation of theMinistry of Education and obtaining her Doctorate in Philosophy. Ms. Carro has been State Lawyersince 1992. She has served as Director, Cabinet at Assistant Secretarial and Administrative Offices,Director General at Public Administrative Organization, Director General at Sociedad Estatal deParticipaciones Patrimoniales and Secretary General at Department of Agriculture, Fishing andFood. Ms. Carro served as Director at Renfe, la Gerencia de Infraestructuras Ferroviarias (GIF),Instituto de Credito Oficial (ICO), INISAS, Aldeasa, Almacenaje y Distribucion, (ALDEASA) andBanco Hipotecario (ARGENTARIA). She holds a degree in Law, Philosophy and Educational Sciences.



MAJOR PRODUCTS AND SERVICES

Iberia Lineas Aereas de Espana (Iberia) is an international air transport group. The company's key services include the following:

Services:

Transportation of passengersTransportation of freight and cargoAircraft maintenanceAirport handling servicesInformation technology systems


Iberia, Lineas Aereas de Espana, S.A.Major Products and Services

TOP COMPETITORS

The following companies are the major competitors of Iberia, Lineas Aereas de Espana, S.A.

Air France KLMLufthansaVueling Airlines SABritish Airways PlcRyanair Holdings plc


Iberia, Lineas Aereas de Espana, S.A.Top Competitors

COMPANY VIEW

A statement by Antonio Vazquez Romero, the Chairman at Iberia Lineas Aereas de Espana is givenbelow. The statement has been taken from the company's 2010 annual report.

2010 was an intense year for our sector. With the world economy still fragile, there were severalserious disruptions to air traffic during the year (caused by volcanoes, snow, industrial action…) inSpain, Europe and elsewhere. With one thing and another, we have been forced to employ a greatdeal of resources and effort to meet our customers' needs, while achieving positive results for thebenefit of our employees and shareholders.Yet neither the general adverse situation nor the specificdifficulties hampered our corporate social responsibility policy.

For the fifth year in succession, Iberia was chosen for the selective Dow Jones Sustainability Index,which acknowledges the best economic, social and environmental practices of the major enterprisesworldwide. As in 2009, Iberia was the airline with the best environmental performance in this index,in which there is only one other airline, and was given an excellent ratings in aspects such asconservation of the local air quality, organisation of the flight network (for environmental purposes)and the ecological efficiency of our operations.

In 2010 we cut our CO2 emissions again, by 4% year on year.With the renewal of our long-haul fleetover coming years, we will foreseeably achieve further improvements in the future. We also workon other projects designed to enhance our environmental performance, including our involvementin researching the possibility of producing biofuels that could be used in aviation and would contributeenormously to improving the environment.

In 2010 we also maintained our commitments to customers, employees and the society at large.

With a view to improving our service to customers, we have opened new direct communicationchannels in the social networks, which have been especially helpful in crisis situations, such as whenthe air space was closed due to the presence of volcanic ash or during the industrial action by theSpanish air traffic controllers. I am particularly honoured by the large number of congratulationsIberia has received for the wonderful response it gave its customers during those crises.

As regards our employees, we have managed to maintain and even raise our level of stableemployment by about 2%.We have also opened a portal for the company's employees to collaboratewith various solidarity projects. In 2010, our commitment to society has focused above all on onename: Haiti. A lion's share of the resources we dedicated to welfare action was sent there, includingthe carriage of almost 250,000 kg of humanitarian aid.

We have endeavoured to be wherever we were needed, whether through “Mano a Mano” -the NGOrun by Iberia employees-, or collaborating with the Spanish International Development CooperationAgency, the Red Cross, numerous foundations or other enterprises such as Amadeus, with whom


Iberia, Lineas Aereas de Espana, S.A.Company View

we have sent around 150 computers from Spanish travel agencies to South Africa and to one of theareas in southern Chile hardest hit by the earthquake in February 2010.

We doubled our contribution to welfare causes and enterprises in 2010 and spent part of our resourceson improving the environment. Our social engagement and commitment to sustainability require thisof us.


Iberia, Lineas Aereas de Espana, S.A.Company View

LOCATIONS AND SUBSIDIARIESHead Office

Iberia, Lineas Aereas de Espana, S.A.Calle Velazquez 13028006 MadridESPP:34 91 587 75 74http://grupo.iberia.es

Other Locations and Subsidiaries

Cargosur, S.A.Compania Auxiliar al Cargo Express, S.A.Velazquez 130MadridMadridESPESP

Iberia Mexico, S.A.Iberia Tecnologia, S.A.Ejercito Nacional 439Velazquez 130MEXMadrid

ESP

Binter Finance B.V.IB OPCO Holdings, S.LStrawinskian 3105Velazquez 1301097 JB AmsterdamMadridNLDESP

Campos Velazquez, S.A.VIVA Vuelos Internacionales deVacaciones, S.A. Velazquez 130Velazquez 130 MadridMadrid ESPESP

Consultores Hansa, S.A.Auxiliar Logistica Aeroportuaria, S.A.Velazquez 130Centro de Carga Aerea Parcela 2 p 5 nave

6 MadridMadrid ESPESP

Iber-America Aerospace, LLCIberia Desarrollo Barcelona, S.L.R.MiamiBergara 3FloridaBarcelonaUSAESP


Iberia, Lineas Aereas de Espana, S.A.Locations and Subsidiaries

iberia, lineas aereas de espana, s.a. - amrutlibraryamrutlibrary.yolasite.com/resources/i/iberia,...

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