Iberia (IB, Madrid Barajas) will replace some of its current long haul fleet of five A340-300 and seventeen A340-600s with eight A350-900s and eight A330-200s parent firm, the International Airlines Group (IAG), has announced.

"Iberia has taken significant steps to restructure its business and the progress made so far means that we can bring new long haul aircraft into the airline's fleet. These orders demonstrate our commitment to make Iberia competitive," William Walsh, IAG chief executive, said. "Both aircraft will provide cost efficiencies and environmental benefits, enabling Iberia to replace its long haul fleet with modern and fuel efficient aircraft."

The IAG says the A350s would be sourced from its widebody order placed in April of last year while the A330s will be obtained "either by converting existing options from its 2011 Airbus (AIB, Toulouse Blagnac) order or from the operating lease market, depending on financial and delivery terms".

Delivery of the new machines will commence next year and run until 2020.