IAG Update on Iberia Transformation Plan

International Airlines Group announces that Iberia has today informed its employees, trade unions and the Spanish Employment Ministry that it has started the formal process of collective redundancy. 3,807 jobs in the airline are affected. There will now be a 30 day consultation process.

This is part of Iberia’s transformation plan to introduce permanent structural changes across the airline to stem its losses enabling it to grow profitably in the future.