Iberia and Airbus ask for European funds to boost the aeronautics sector with 11 billion over the next 6 years

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IAG's airline Iberia and the European aircraft manufacturer Airbus have requested European funds to boost the aeronautical sector in Spain with 11,000 million in the next 6 years, between 2021 and 2026, a project that would entail the creation of 10,000 direct jobs, as published in the same newspaper, El País.

The idea of both companies is that some 4,000 million come from Brussels. Vueling and two public entities, the airport manager Aena and the air navigation manager Enaire, have also joined the alliance, while there is also the possibility of Adif and Renfe joining to promote the connection between airport and rail transport.

Specifically, the project seeks to achieve the transition towards a sustainable aviation model, the digital transition in the sector, the renewal of fleets, the promotion of the Madrid hub and multimodality, according to the same media. This article states that the aeronautical sector employs 45,000 people and has a turnover of 10,500 million euros, 6% of the industrial GDP.

The project has been submitted to the Ministry of Industry and insists that the changes they propose could make the sector a benchmark for innovation and high-skilled employment.

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As for the distribution of the 11,000 million, these would include a plan to renew the fleet of aircraft, to bet on less polluting ones (50% of the funds); the commitment to sustainability, as with the development of new fuel models and hydrogen research (1,000 million); the implementation of circular economy models; improving the competitiveness of the Madrid hub to be the gateway to Europe for Latin America and also the connection between Latin America and Asia and the creation of a new cargo terminal.

Another major project that was announced last week and which is also seeking the support of European funds to be developed is that of Ferrovial, which seeks to create and operate 20 heliports for flying cars in Spain with which it plans to promote interregional connections, according to the company's Director of Innovation, Rafael Fernández, as explained to Business Insider España.

The Ibex 35 company already has a deal in place with aerial vehicle startup Lilium to build and operate 10 heliports in Florida by 2025, with Lilium building the electric jets. To build a vertiport, the key is the location and a runway with 6 or 8 landing zones, as well as a terminal that ensures the electricity supply, so they can be established in a conventional airport or in the parking lot of a commercial area.