Automatically changes when the new rules are announced.
31 AUGUST 2009
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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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