Japan’s Itochu Corporation has agreed to acquire a minority stake in IAG Engine Tech, IAG’s aircraft-engine maintenance business, in a deal with Iberia. Subject to regulatory approvals and other required consents, the investment is expected to take effect in early 2027, when the new company is also due to begin operations at Iberia’s La Muñoza facilities in Madrid.
IAG established IAG Engine Tech in 2026 to consolidate and expand the engine-maintenance activities previously managed by Iberia Mantenimiento, which has more than 50 years of experience. Itochu already has commercial ties with Iberia and IAG through aircraft-leasing transactions and also operates in aircraft, engine and aftermarket businesses.
The company will build on Iberia Mantenimiento’s capabilities for V2500, CFM56 and PW1100G-JM GTF engines. It will also add LEAP engine maintenance under the CFM LEAP Premier MRO licence announced in April. The authorisation is expected to place IAG Engine Tech among eight MRO providers worldwide approved to maintain the engine family.
Itochu’s investment is intended to support additional production capacity, technical specialisation and employment growth. The size of the minority stake and the financial terms have not been disclosed. Iberia chief executive Marco Sansavini described the partnership as part of the maintenance business’s transformation and IAG’s Flight Plan 2030 strategy.