In the wake of Air Comet's collapse, Iberia has announced an increase in flights to Lima and Buenos Aires.

From 14th January, Iberia will increase existing services from its Madrid Barajas hub to Lima from a daily service to 11-times weekly. To Buenos Aires there will be 17 weekly flights (up from 14), using a mix of B767-300 and A340-500s.

Before its demise, Air Comet operated a 5x weekly service from Madrid to Lima and a further 5x weekly service to Buenos Aires. BSP data shows that from Sep 08-09 nearly 190.000 pax travelled from Madrid to Lima where Air Comet was the leading carrier in terms of market share with a 28% share of passengers. Iberia had just a 9% share of traffic, however the average yield was significantly higher, with almost double the revenue on Iberia flights compared to Air Comet.