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International Consolidated Airlines Group SA's Iberia Doesn't Reach Agreement With Unions; Pursues 15% Capacity Reduction-Dow Jones


Friday, 1 Feb 2013 10:18am EST 

Dow Jones reported that International Consolidated Airlines Group SA announced that Iberia hasn't reached an agreement with its trade unions over a turnaround plan put forward in November, adding that as a result it will press ahead with a previously announced capacity reduction of 15% for 2013. Moreover, the Company will move forward on alternative plans to return Iberia to break-even, in terms of operating cash flow, by the second half of the current year and restore an acceptable level of profitability by 2015. 

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