Iryo

Iryo is the brand of Intermodalidad de Levante S.A. (ILSA), a private high-speed rail operator in Spain. The company is jointly owned by the Italian state-owned railway company Trenitalia (51%), the Spanish regional airline Air Nostrum (25%), and the Spanish infrastructure investment fund Globalvia (24%).

During the late 2010s, ILSA worked to secure the necessary approval and resources to launch the service. During early 2022, it was announced that the company had attracted the interest of Globalvia, which subsequently joined with the two original founding companies in the venture. The Iryo brand was launched in November 2021, one year prior to the commencement of its first services, which ran on the Madrid–Barcelona high-speed rail line in competition with Renfe and Ouigo España. Throughout 2023, additional services covering Madrid–Córdoba–Seville/Málaga and Madrid–Albacete–Alicante have been launched. The company has publicly declared its intention to pursue a 30 percent market share along its routes. The bulk of Iryo's fleet comprises 20 Frecciarossa 1000 high speed train sets.