Iberia is cutting 11%of its seat capacity and axeing 2,516 jobs in the wake of the 11 September attacks. The Spanish flag carrier is also cancelling all wet-lease contracts, postponing the delivery of new aircraft, and bringing in other cost-cutting measures. Iberia says without these measures, the company would lose 46.7 billion pesetas ($248 million) instead of a projected 17.5 billion pesetas with them.
Source: Airline Business
Lufthansa Group expects to close its deal to acquire a 41% stake in ITA Airways in the fourth quarter after securing conditional European Commission clearance for the transaction.
Air France-KLM has warned that travellers avoiding Paris due to the forthcoming Olympic Games could cause a revenue hit of up to €180 million ($193 million) at its French operations.
WestJet’s operations over the long Canada Day weekend have been massively disrupted by striking mechanics, forcing the airline to cancel hundreds of flights and disrupt the air travel plans of thousands of passengers.
