Airbus is preparing to make the first delivery of its longest-range single-aisle jet, the A321XLR, to Spanish airline Iberia later on Tuesday, industry sources said.

The keenly awaited delivery - the first of a new variant of the best-selling A321 jet - involves a formal handover and transfer of ownership, though the Spanish airline may not officially welcome the plane into its fleet until next month.

An Airbus spokesperson declined comment on the timing of the delivery, which comes just ahead of quarterly earnings on Wednesday. Iberia did not immediately respond to a request for comment.

(Reporting by Tim Hepher, David Latona; editing by Jason Neely)