Iryo: Italian High-Speed Rival Challenges Renfe
The recent accident in Adamuz, Córdoba, involved an Alvia train operated by Renfe and an Iryo train. Iryo is the brand created by Ilsa, a partnership between Trenitalia and Air Nostrum, established to compete with Renfe in the Spanish high-speed train market. The company commenced operations in 2022, following the liberalization of rail transport in Spain.
Iryo: A High-Speed Competitor to Renfe
Iryo currently holds about 25% market share in key corridors connecting major cities. These include:
- Madrid
- Barcelona
- Alicante
- Valencia
- Andalusia
As the second-largest operator, Iryo accounts for approximately 30% of all high-speed journeys, serving over 13 million passengers with an average occupancy rate of 73%. The train service connects 11 destinations, including major Spanish cities like:
- Zaragoza
- Tarragona
- Cuenca
- Albacete
- Córdoba
- Sevilla
- Málaga
Ownership and Investment Developments
Ilsa was founded in April 2015, aiming to be Spain’s first private passenger train operator. Initially, it partnered with Air Nostrum, led by Carlos Bartomeu. Trenitalia joined the venture in 2019, acquiring 45% ownership. In September 2022, Globalvia took 24% of Air Nostrum, shifting the ownership dynamics:
- Trenitalia: 45%
- Air Nostrum: 31%
- Globalvia: 24%
By November 2024, the Italian state increased its stake to 51%, enhancing its influence in the partnership. Air Nostrum then retained 25% while Globalvia maintained 24%.
Innovative Train Technology
Iryo stands out as the only operator with a completely new fleet in the market. It features 20 ‘Frecciarossa’ or ETR 1,000 trains, manufactured by Hitachi Rail and Alstom. The investment for this fleet totaled €800 million. Iryo promotes its trains as the fastest, most modern, and sustainable in Europe, reaching speeds of up to 300 kilometers per hour. Each train is designed for 461 passengers, incorporating advanced aerodynamics and energy-saving technologies.
The Alvia train accident occurred when a newly constructed Iryo train, built in 2022, veered into the adjacent track. On January 15, 2024, it underwent its last inspection. While en route from Málaga to Madrid on January 18, 2024, the train departed at 18:40 with 289 passengers and a crew. It encountered an incident around 19:45, with the cause still under investigation.
