Iberia reported that at a time of weakness for
Iberia, this announcement of such a
disproportionate action only aggravates an
already difficult situation. The company will
use all legal means at its disposal to make the
adjustments needed to restore it to
profitability, and to have a future.” Iberia
Airlines is the flag carrier airline of Spain.
Based in Madrid, it operates an international
network of services from its main bases of
Madrid-Barajas Airport and Barcelona El Prat
Airport.
Iberia, with Iberia Regional (operated by an
independent carrier Air Nostrum), is a part of
Iberia Group. In addition to transporting
passengers and freight, Iberia Group carries out
related activities, such as aircraft
maintenance, handling in airports, IT systems
and in-flight catering. Iberia Group airlines
fly to over 102 destinations in 39 countries.
Via code-sharing arrangements with other
companies, it offers flights to another 90
destinations.
On April 8, 2010, British Airways and Iberia had
signed an agreement to merge, making the
combined operation the third largest commercial
airline in the world by revenue. Shareholders of
both carriers approved the deal on November 29,
2010. The newly merged company, known as
International Airlines Group IAG, was
established in January 2011, although both
airlines continue to operate under their current
brands.
In
November 2012 Iberia reported it was planning to
reduce the number of employees by 4,500 and its
fleet by five long-haul and 20 short-haul
aircraft, in a "fight for survival", as IAG's
chief executive officer said.
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