Spanish flag carrier Iberia plans to launch new routes to North America as part of a sweeping five-year strategic plan.
In a statement released Wednesday, the airline said it is adding Philadelphia, Toronto, and Monterrey, Mexico, as destinations, though it did not provide a timeframe.
Iberia said it is prioritizing new routes across the Atlantic as it scales up its long-haul fleet from 45 aircraft to approximately 70. In March, the carrier announced plans to launch service between Madrid and Orlando, Florida, and Recife and Fortaleza, Brazil.
Iberia’s strategic plan, known as Flight Plan 2030, aims to increase annual profitability to between 13.5% and 15%, which would allow the airline to reinvest about €6 billion, or $6.9 billion. Aside from growing its fleet, Iberia wants to refurbish all of its long-haul aircraft cabins, hire an average of 1,000 new workers per year, and transform Madrid–Barajas Airport, its home base, into a major European air hub.
Iberia also plans to develop its maintenance center near Madrid-Barajas, currently known as La Muñoza, into “Ciudad Iberia,” a cutting-edge aerospace technology and innovation complex. The carrier expects to move its corporate headquarters to the site in the coming years.
In the U.S., the carrier is also looking to increase existing service to San Francisco and San Juan, Puerto Rico.
