Spain's Iberia expects to launch next summer a subsidiary carrier to serve domestic and European destinations out of Madrid,

the carrier announced on Thursday. Iberia Express is slated to launch with four A320 aircraft outfitted with business and economy seating, with an additional nine aircraft to be added from Iberia's mainline fleet by the end of next year. Initial routes were not disclosed. "Iberia Express will have lower operating costs than Iberia’s loss-making short- and medium-haul business," according to an Iberia statement.