Close
Log in
Please enter your login details

Skip to main content

Breaking News
  • In Oslo, Estonian president says he wants permanent NATO bases in Estonia (Reuters)
  • More than 1,000,000 people now displaced due to Ukraine conflict, including 814,000 in Russia, UNHCR envoy tells Reuters.
  • Fifteen Ukrainian military service personnel killed in the past 24 hours, according to a military spokesman (Reuters)
  • European Commission says to hold expert level talks with Russia on Thursday to try and solve Ukraine gas price row (Reuters)
  • Attack on army convoy in Egypt’s Sinai kills eight soldiers – security, medical sources (Reuters)
|

The Spanish airline Iberia is to cut four and a half thousand jobs – a quarter of its workforce. Its parent company, International Airlines Group, says the aim is to save the company which is “struggling for survival”.

A deadline has been fixed for the end of January to agree a restructuring plan with the unions – otherwise, warns the company, even more drastic cuts will be implemented.

Iberia’s director general says the company is not competing in any of its markets, and its problems pre-date the Spanish or European crises. It’s losing 1.7 million euros a day, he adds.

On Wednesday IAG released its latest monthly passenger figures, which showed that numbers had risen at British Airways compared to the same period last year – whereas Iberia had lost customers. Traffic was down by 3.7 per cent.

Copyright © 2014 euronews

More about:
|