James Bryce
A SPANISH airline is to slash nearly a quarter of its workforce as it fights to overcome record losses.
Iberia will cut 4,500 jobs after the Spanish carrier, owned by the same company as British Airways, revealed it is losing €1.7 million a day.
The redundancies, one of the largest ever staff reductions in Spain, amount to 22% of the airline’s workforce and are intended to help secure 15,500 other jobs at the airline.
Other measures being taken include reducing network capacity by 15% to focus on the most profitable routes and cutting 25 aircraft from its fleet.
“Iberia is in a fight for survival, it is unprofitable in all its markets and we have to take tough decisions now to save the company and return it to profitability,” said Iberia CEO Rafael Sanchez-Lozano.
“Unless we take radical action to introduce permanent structural change the future for the airline is bleak.
“However, this plan gives us a platform to turn the business around and grow,” he added.
About time Iberia got a shakeup. It is easily the worst airline I have ever flown.
I’ve flown with Iberia and found it had very polite and efficient staff, problem is, it’s top heavy and unprofitable.
If you read the business news you will find that it is entirely possible that Iberia will be shut down. Too many Spanish companies have an outdated attitude to business in general, that stupid Rajoy is a prime example of a Spaniard in denial and trying to dictate terms to those who are offering him a lifeline. I suspect that Iberia’s management have the same mentality.
Malaga – London out 16/11 rtn 17/11. Iberia €1,000. Easyjet € 377. Make up your own mind.