IAG's Iberia Express will finally take off

23rd Mar 2012 08:57

Iberia, the Spanish airline operated by International Consolidated Airlines (IAG), is expected to present its low-cost subsidiary in a press conference this morning following continuous labour strikes (a total of 24), tensions with the SEPLA pilot union, and losses from short and medium-haul flights.Iberia Express will being to operate its first flights on Sunday March 25th, three years after Iberia's Managing Director Rafael Sanchez Lozano first announced intentions of creating a new low-cost subsidiary which led to opposition from labour unions.The new airline is a wholly-owned subsidiary with a staff of 500 employees (125 pilots, 50 ground staff members, and 325 cabin crew members) and a fleet of 13 airplanes that may be increased to 40 by 2015.Iberia Express will save €100m annually for Iberia through 2015 and is a pillar of IAG's strategic plan.M.D.