Iberia airline will downsize due to COVID-19: CEO
Spanish airline Iberia will reduce the size of its fleet, the number of destinations it flies to and how frequently as the coronavirus pandemic continues to drag on demand, its CEO said in a newspaper interview.
Luis Gallego also told El Pais that Iberia, part of International Consolidated Airlines Group (IAG.L), wants to extend a temporary layoff scheme for workers, known as ERTE, until December.
“In Iberia, we will be smaller, but we will exist, something that it is not clear other airlines will be able to say,” Gallego said. “Smaller, unfortunately, with the capacity adapted to the demand. We will have fewer planes, fewer flights and fewer destinations.”
The Madrid-based airline has been losing €7 million per day, he said.