IAG CEO Willie Walsh has thrown down a challenge following nine months of losses at Iberia and a 25% fall in third quarter profit for the group. This week he said: “We want Iberia to be strong and successful. For too long the narrow self-interest of the few has damaged the long-term future for the many. We will not hesitate to take necessary steps to protect the interests of our shareholders.” It looks like Iberia is going through the same medicine that British Airways went through two years ago. The immediate changes are: Iberia capacity will be…
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