Iberia Airline to sell its nine Airbus A320s to Allegiant Air

Nine Airbus A320 aircrafts, which were being utilized to operate Iberia Airline flights services, are now being purchased by Allegiant Travel Co.

Iberia Airline in a statement said that Allegiant Travel Co., which owns Allegiant Air, has decided to buy nine Airbus A320 aircrafts from Iberia in order to expand its fleet.

The cash-strapped Spanish carrier Iberia Airline owns the 117-seat Airbus A320 aircrafts with an average age of 12 years old. The ailing carrier has decided to sell the aircrafts to Allegiant Air to offset the losses it has been suffering for quite some years now.

Allegiant Air has declined to disclose for whom it is buying the aircrafts or the purchase terms. The company has said that it will be borrowing the money to purchase the A320 aircrafts from Iberia Airline.

Allegiant Air disclosed that it would initially be purchasing the first seven Airbus A320 aircrafts from Iberia in 2013. The remaining two aircrafts would be purchase in 2014. It further disclosed that all the nine aircrafts would take to the skies according to the current timetable within two years.