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31 AUGUST 2009

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Article from BTNews 31 AUGUST 2009

Iberia in big loss

IBERIA, British Airways would-be partner, is itself suffering from the economic slump that has affected virtually every airline, worldwide.  Last Friday (28 August) it published its second quarter results which followed the previous day's announcement of a management structure reorganisation designed to generate new income and reduce costs and including a fleet reduction of ten aircraft.  Operating losses were €72m but the overall load factor reached 81.3%, claimed to be the highest among Europe's large network airlines.  Staff cuts reached 4.7%.  The airline remains market leader on routes between Europe and Latin America. www.iberia.com

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