Thread: Is This The End For Iberia (MAD)?

Spanish flag carrier Iberia has become unprofitable in all markets, including long haul, and its problems are critical. Last year's overhaul of Iberia, resulting in over 3,000 job cuts, was just the beginning, chief executive Willie Walsh told the group's annual shareholder meeting.
"It's only a first step and Iberia needs to do more," Walsh said.
"It's vital that everyone within the company understands that they have to make sacrifices to help save Iberia," the executive said in a clear call to unions bucking against salary and job cuts enforced last year.
IAG trimmed salaries at the Spanish airline last year in an attempt to counter cut-price competition from rivals such as easyJet and Ryanair in a severe economic downturn.
Workers staged two five-day walkouts in February and March leading to millions of euros in losses and the cancellation of thousands of flights.