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IAG
Europe’s Airlines / Lowering costs and cutting Jobs
European airlines will have to cut costs at existing short-haul businesses to compete with budget airlines or struggle to stay aloft, IAG boss Willie Walsh said. So-called legacy carriers such as IAG, Lufthansa and Air France-KLM are cutting jobs, renegotiating staff contracts and dropping uncompetitive routes to get costs on a par with budget carriers, … Continue reading
Iberia | IAG to cut 4,500 jobs
International Airlines Group warned on Friday that its Spanish carrier Iberia was ‘‘in a fight for survival’’ and unveiled a restructuring plan to cut 4,500 jobs as it reported a drop in third-quarter profit. Iberia CEO Rafael Sanchez-Lozano said the carrier is losing money in all its markets and was ‘‘burning €1.7 million ($2.17 million) … Continue reading
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