June 20, 2013 / 10:59 AM / 4 years ago

IAG says Spanish flag carrier Iberia in critical state

MADRID, June 20 (Reuters) - International Airlines Group said on Thursday the situation of Spanish flag carrier Iberia was critical and that it had become unprofitable in all markets, including long haul.

Last year’s overhaul of Iberia, resulting in over 3,000 job cuts, was an important step towards restructuring but was only a first step, Chief Executive Officer Willie Walsh said at the group’s annual shareholder meeting.

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