Relief on the dome of Iberia. The president and CEO of the main Spanish airline, Javier Sánchez Prieto, announced yesterday that he is leaving the company and putting an end to a stage of a little more than two years at the head of the company, to undertake new professional projects outside the aviation sector. His temporary replacement will be Fernando Candela, CEO of Level, IAG's low-cost, long-haul brand, who will take over in July.
Sánchez Prieto has been linked to IAG for twelve years and at the head of Iberia for two. He previously led Vueling for four years and was part of the founding team of Iberia Express. "I take with me a magnificent experience and the privilege of having worked with extraordinary professionals who are able to achieve everything they set their minds to," said the current president, who will present the financial results for the first quarter today, Friday.
Fernando Candela will assume the duties of president and CEO of Iberia in July on an interim basis, until IAG finds a new head of the airline, company sources indicate. Candela has the mission at this time to "address the repayment of the debt" and to "proceed with negotiations to complete the purchase of Air Europa", indicates the group. The new first executive has participated in recent months in the integration operation of the Spanish companies that is being piloted directly from London, with the CEO of IAG, Luis Gallego, at the helm.
At this moment, the European competition authorities are studying what conditions (remedies) they impose on the operation closed between the two Spanish airlines in February for 500 million in total to guarantee competition, such as the transfer of some routes to their competitors.
In addition to leading Level, Candela has been director of transformation at IAG since 2020. He was also CEO of Iberia Express for six years and, previously, director of planning and management control at Air Nostrum. He is, therefore, a considered man of the house.
The CEO of IAG said yesterday about Candela that he is "an extraordinary professional and has been a key part of IAG and the Iberia group". "His solvency makes him the best person to lead Iberia in the coming months" and affirms that "his extensive experience in the world of aviation and transformation will bring a lot of value to the company", Gallego added.
