Ibe­ria air­line will down­size due to COVID-19: CEO

Arab News - - Business News -

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.

Reuters

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