Iberia to cut pilots’ wages by 20%

Iberia has announced plans to cut its pilots’ overall wage bill by 20%. The announcement comes amid a series of one-day strikes by pilots protesting over the creation of Iberia Express. The airline says the move will cut pilots’ wage costs by €62 million and boost productivity by 25%. Iberia finance director Jose Maria Fariza said: “This delicate situation has been seriously aggravated by the strikes by the pilots union SEPLA, which have been causing daily losses for Iberia of three million euros.” SEPLA has vowed to strike every Monday and Friday until July 20.