Corporate brand
UnclaimedA private high-speed rail brand operated by Intermodalidad de Levante S.A. in Spain.
Last updated October 30, 2026
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Overview
Iryo is the commercial brand of Intermodalidad de Levante S.A. (ILSA), a private open-access high-speed passenger rail operator in Spain. ILSA operates on Spain's standard-gauge high-speed network in competition with Renfe's AVE and Avlo services and Ouigo España. The venture combines the railway expertise and financial participation of Trenitalia, the transport and aviation experience of Spanish airline Air Nostrum, and the infrastructure-investment involvement of Globalvia. The operating company received approval to launch open-access high-speed passenger services in Spain on 17 September 2018. Its original shareholders were Trenitalia and Air Nostrum. The Iryo brand was publicly introduced at Madrid Atocha station on 18 November 2021, approximately one year before passenger operations began. Globalvia subsequently joined the venture, completing the acquisition of a 24% stake in ILSA in September 2022. The resulting ownership structure left Trenitalia with 51%, Air Nostrum with 25%, and Globalvia with 24%. Iryo began commercial operations in late November 2022 with services between Madrid and Barcelona, including calls at Zaragoza on some trains. The launch made Spain the first European country with three competing high-speed rail operators on its principal intercity corridors. Iryo expanded rapidly during 2022 and 2023. A Madrid–Cuenca–Valencia route began in December 2022, followed by services from Madrid to Córdoba, Seville, and Málaga in March 2023. A Madrid–Albacete–Alicante service was added in June 2023. By 2024, the network included Madrid–Barcelona, Madrid–Seville, Madrid–Málaga, Madrid–Valencia, and Madrid–Alicante connections. The company's principal rolling stock consists of 20 Frecciarossa 1000 high-speed trainsets, a model closely associated with Trenitalia. Nine trainsets had been delivered before the initial Barcelona launch. The trains support Iryo's positioning as a premium-oriented intercity operator, while competition and promotional pricing have also made the service part of Spain's increasingly price-sensitive high-speed rail market. Before the launch, Iryo offered advance tickets at a substantial introductory discount, and fares across the market fell after the arrival of additional operators. Iryo has stated a long-term ambition to achieve a 30% share of the markets on the routes it serves. Its expansion has been enabled by Spain's liberalisation of high-speed passenger rail and by access to infrastructure managed by Administrador de Infraestructuras Ferroviarias (ADIF). In June 2023, Iryo announced an alliance with Air Europa to support combined air-and-rail tickets, extending the brand beyond point-to-point rail travel toward intermodal journeys. The company has also been associated with possible future expansion to destinations requiring variable-gauge rolling stock, although such expansion is not established as part of its regular network. Iryo remains an active Spanish high-speed rail operator and a significant participant in the country's open-access rail market.
History
Iryo developed from Intermodalidad de Levante S.A. (ILSA), a joint venture created by Trenitalia and Air Nostrum to participate in Spain's newly liberalised high-speed passenger rail market. On 17 September 2018, ILSA obtained approval to provide open-access high-speed services. Unlike a traditional national railway franchise, an open-access operator runs commercial services on the existing rail infrastructure and competes directly with the incumbent where demand and access conditions permit. The project remained in development through the late 2010s and early 2020s as ILSA secured the resources, rolling stock, and operating arrangements needed for launch. On 18 November 2021, the company publicly presented the Iryo brand at Madrid Atocha station. The name became the customer-facing identity for the planned service, while ILSA remained the legal operating company. Chief executive Simone Gorini described a long-term objective of reaching a 30% share on the routes served by the business. Globalvia became involved during 2022. After reports of its interest earlier in the year, the infrastructure investment fund completed the purchase of a 24% stake in ILSA in September. The resulting shareholder structure consisted of Trenitalia with 51%, Air Nostrum with 25%, and Globalvia with 24%. Trenitalia's participation also connected Iryo to the Frecciarossa 1000 train family, which forms the core of the operator's fleet. Iryo's first services began in late November 2022 on the Madrid–Barcelona corridor, with some services calling at Zaragoza. The launch placed Iryo alongside Renfe's AVE and Avlo brands and Ouigo España, making Spain the first European market with three competing high-speed operators. Iryo used advance promotional fares to attract customers before launch, contributing to a more competitive pricing environment across the corridors. The network expanded quickly. Madrid–Cuenca–Valencia services began in December 2022. After further route authorisations were announced in February 2023, Iryo began operating from Madrid to Córdoba, Seville, and Málaga in March. In June 2023, the operator added Madrid–Albacete–Alicante. By 2024, these routes constituted the principal Iryo network, linking Madrid with Barcelona, Valencia, Alicante, Seville, and Málaga. The company also pursued intermodal growth. In June 2023, Iryo announced an alliance with Air Europa intended to make combined air-and-rail tickets available. This reflected a broader strategy of positioning the railway as part of a connected travel itinerary rather than solely as a substitute for domestic flights. Iryo's development has benefited from reforms led by Spain's rail infrastructure manager ADIF, including plans for more scalable track-access charges applying to both incumbent and open-access operators. The fleet is primarily composed of 20 Frecciarossa 1000 trainsets, with nine reported as delivered before the Barcelona launch. The company has been linked to possible future use of variable-gauge trains, which could facilitate access to destinations whose routes are not fully compatible with the standard-gauge high-speed network. As an active private operator, Iryo continues to compete within Spain's liberalised high-speed rail system. A serious 2026 collision involving an Iryo train and a Renfe train at Adamuz became a major safety incident associated with the brand.
- 2023
Southern Spain expansion
[1]Services from Madrid to Córdoba, Seville, and Málaga began in March.
- 2023
Madrid–Alicante route added
[1]Iryo launched Madrid–Albacete–Alicante services in June.
- 2023
Air–rail partnership announced
[1]Iryo and Air Europa announced cooperation on combined air-and-rail tickets.
- 2022
Globalvia joins the ownership structure
[1]Globalvia completed the acquisition of a 24% stake in ILSA.
- 2022
Commercial operations begin
[1]Iryo began operating Madrid–Barcelona high-speed services in late November, entering competition with Renfe and Ouigo España.
- 2022
Madrid–Valencia route added
[1]Iryo extended its network to Valencia through Cuenca.
- 2021
Iryo brand launched
[1]ILSA unveiled Iryo at Madrid Atocha station as the brand for its planned Spanish high-speed services.
- 2018
ILSA authorised for open-access high-speed rail
[1]Intermodalidad de Levante S.A., then controlled by Trenitalia and Air Nostrum, received approval to launch commercial high-speed passenger services in Spain.
Products and positioning
A privately operated, premium-oriented high-speed rail alternative in Spain, combining Trenitalia-derived rolling-stock expertise with a broad intercity network and intermodal travel partnerships.
High-speed rail · 2022
Iryo high-speed passenger services
Iryo provides scheduled high-speed passenger transportation over Spain's high-speed rail infrastructure. Its principal routes connect Madrid with Barcelona, Valencia, Alicante, Seville, and Málaga, with intermediate stops including Zaragoza, Tarragona, Cuenca, Córdoba, Albacete, and other corridor stations depending on the service. The network operates on an open-access basis in competition with Renfe and Ouigo España.
Rolling stock
Frecciarossa 1000 fleet
The bulk of Iryo's fleet consists of 20 Frecciarossa 1000 trainsets, a high-speed train family also operated by Trenitalia. The trainsets form the principal equipment used for Iryo's intercity services and support the brand's association with modern, premium-oriented high-speed travel.
Intermodal travel · 2023
Combined air-and-rail ticketing
Through its alliance with Air Europa, Iryo has pursued combined plane-and-train travel arrangements. The initiative is intended to link Iryo's high-speed rail network with airline itineraries and provide an intermodal alternative for journeys involving Madrid and other Spanish destinations.
Controversies
2026
Renfe and Iryo trains collide in Spain
A Renfe train struck the rear of a stationary Iryo train in Castilla-La Mancha, Spain. According to the article, the crash killed 69 people and injured scores of others. The report does not establish a cause for the collision. The incident involved two rail operators, Renfe and Iryo, and occurred in the Castilla-La Mancha region of Spain.
Marketing campaigns
- 2022Introductory advance-ticket promotion
Spain
Before the launch of regular operations, Iryo made advance tickets available with a 50% promotional discount to stimulate awareness and early demand.
Outcome. The launch contributed to intensified price competition among Spain's high-speed rail operators, although no independent campaign performance figures are provided.
Brand decisions
2023
Develop an air–rail travel propositionStrategyBackground
Iryo sought to extend its role beyond individual rail journeys and connect with Spain's aviation network.
Action taken
The company formed an alliance with Air Europa to facilitate combined plane-and-train tickets.
Aftermath
The partnership supported Iryo's intermodal positioning, although detailed commercial results are not reported.
2022
Add Globalvia as a shareholderM&ABackground
ILSA sought additional infrastructure-investment participation as it prepared to operate a national high-speed network.
Action taken
Globalvia acquired a 24% stake in ILSA, alongside Trenitalia and Air Nostrum.
Aftermath
The transaction established the ownership structure behind Iryo's commercial launch and expansion.
2022
Launch Madrid–Barcelona servicesProduct launchBackground
Iryo's initial operating plan focused on one of Spain's largest and most competitive high-speed corridors.
Action taken
The operator began service between Madrid and Barcelona with approximately 12 trains per day at launch.
Aftermath
Iryo became a direct competitor to Renfe's AVE and Avlo services and Ouigo España.
2021
Launch the Iryo brandProduct launchBackground
ILSA needed a consumer-facing identity for its planned high-speed rail operation.
Action taken
The Iryo brand was presented publicly at Madrid Atocha station.
Aftermath
The brand began commercial services approximately one year later.
2018
Enter Spain's open-access high-speed rail marketStrategyBackground
ILSA sought to establish a commercial high-speed passenger operator in Spain following the opening of the market to competition.
Action taken
The company obtained regulatory approval to launch open-access high-speed passenger services.
Aftermath
The approval enabled the subsequent creation and launch of the Iryo customer brand.
Recent events
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