IAG SA Chief Executive Officer Willie Walsh, who led the company’s creation via a merger of British Airways and Spain’s Iberia, said he favors a further bout of consolidation to boost revenue while paring costs.
Less than a year ago, Airbus SAS was struggling to secure orders for its biggest A350 variant as airlines decried the plane as flawed. Now the company is trying to figure out how to meet resurgent demand.
British Airways parent International Consolidated Airlines Group SA pledged to push through a plan to shrink Spanish division Iberia by 15 percent and deliver a profit rebound this year following a group-wide loss in 2012.
IAG Chief Executive Officer Willie Walsh said he’ll move forward with a cost-cutting strategy at the Madrid-based Iberia unit of Europe’s third-largest airline after unions spurned the latest plan to reduce headcount.