IAG chief attacks “legacy thinking”

In a new restructuring plan for Iberia presented by Willie Walsh, chief executive of International Airlines Group, the Spanish airline is to shed 4,500 jobs. Walsh said that “there have been far too many reasonable people who have accepted legacy thinking . . . and have left it unchallenged.” Iberia has posted operating losses for the past three years, which threatens to damage its profitable merger partner British Airways. IAG expects Iberia to report a €120m operating loss this year, which is justification for cutting aircraft capacity by 15% with the divestiture of unprofitable routes.