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International Consolidated Airlines Group SA's Iberia Starts Talks With Pilots Over Restructuring-Dow Jones


Thursday, 3 Jan 2013 09:19am EST 

Dow Jones reported that Iberia SA, a subsidiary of International Consolidated Airlines Group SA, has started talks with pilots over plans to restructure the loss-making carrier after the pilot's union agreed to negotiate measures aimed at making the airline profitable by 2017. Iberia SA has already started talking to unions representing the airline's cabin crew and ground staff who agreed in December 2012 to negotiate on Iberia SA's restructuring plan, which includes cutting staff by 21%, in addition to pay cuts and the closure of routes. The planned layoffs include 573 pilots, 932 cabin-crew members and 3,037 ground-based employees. The talks are likely to center on some 2,000 job cuts after 2,500 of the total 4,500 are taken out via early retirement. Agreement on salary freezes and increased working hours are also expected to be tricky.