The restructuring of Spanish airline Iberia, British Airways' partner in International Consolidated Airlines Group (IAG), is taking off and the group has decided to place a Brit, Gavin Halliday, at the helm of the Iberian sales office in order to improve the numbers.
According to the Spanish business daily Expansin, Halliday will replace Manuel Lpez Aguilar and will seek to increase the Spanish airline's revenues just at the time that the company is working on its new restructuring plan. Iberia recorded a €263m loss for the first half of 2012.
The Spanish financial newspaper reported that this process is only just beginning and that Iberia will give final details on how it plans to reduce both its size and workforce by the end of September.
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Inside sources told the paper that Iberia is already in talks with labour unions to discuss the layoffs.
By 09:27 in London, shares were down 0.88% at 146.3p.
JM
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