IAG Reaffirms Iberia Restructuring Plan
International Consolidated Airlines Group on Thursday said it is pushing ahead with staff cutbacks at Spanish carrier Iberia, as a robust performance at British Airways only partly cushioned the impact of high fuel prices and a weak Spanish economy last year.
IAG posted a €943 million net loss for 2012 and said it hopes return to profit this year on the planned restructuring of the unprofitable Spanish airline, which recorded a €343 million write-off of goodwill and €202 million in restructuring costs last year.
The steep loss at IAG, formed through the January 2011 merger of British Airways and Iberia, ...
IAG Reaffirms Iberia Restructuring Plan
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