Manufacturing Industry
Iberia's cost cutting plan on target
Airline Industry Information, Sept 14, 2004
AIRLINE INDUSTRY INFORMATION-(C)1997-2004 M2 COMMUNICATIONS LTD
Spanish carrier Iberia is on track to reach its cost cutting targets, according to the airline's chief financial officer Enrique Dupuy de Lome.
The carrier is looking to cut costs by between EUR350m and EUR400m a year and is confident of achieving that target by the end of 2005. The CFO said that the airline would reduce the number of flight attendants on its flights and increase capacity on short and medium haul aircraft by 5%.
Iberia aims to increase capacity by 8-9% by better utilisation of its fleet which it plans to reduce to 155 aircraft, reports Reuters.
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