Spanish carrier Iberia plans to invest €6 billion within the next five years to renew and expand its fleet as part of its new Flight Plan 2030 growth strategy.

The investment will see the carrier, part of the IAG group, increase its long-haul fleet from 45 to 70 aircraft. This will include Airbus A350s, A321XLRs and ¡°potentially¡± A330NEOs from the?recently announced IAG group order, the carrier said.

Off the back of this fleet expansion, the carrier plans to introduce new transatlantic routes to Toronto, Philadelphia and Monterrey as well as increase frequencies on existing routes.

Additionally, the carrier said all cabins in its existing long-haul fleet will be renovated to be ¡°more comfortable, more attractive and offer improved connectivity¡±, while its short- and medium-haul fleet will undergo ¡°comprehensive renewal¡±.

Iberia also announced plans to open a new Premium Lounge at Madrid Airport Terminal 4 and develop an aeronautical innovation centre, called Ciudad Iberia, in La Mu?oza, where it will also relocate its corporate headquarters.

Iberia president and CEO Marco Sansavini, said: ¡°Thanks?to Iberia¡¯s profound transformation over the last decade and the efforts of all our people, we are now delivering results that allow us to look to the future with confidence and invest €6 billion in our Flight Plan 2030.

"We expect to hire an average of 1,000 new employees per year throughout the duration of the 2030 Flight Plan. This will multiply the opportunities for professional improvement and development for everyone in the airline," he added.