Earn Buzz Rewards points on select Bookings.
It's FREE - SIGN UP Now!
Why Book With Fare Buzz?
With over 80 negotiated Airline contracts we offer you the cheapest fares.
We have been in business since 1994 and are proud members of BBB with an excellent rating.
Our Business Travel Consultants work out the best fares for the most complicated itineraries.
Our Agents are available 7 Days a Week.
Client Testimonials

I just spoke with Ashton regarding booking to Orlando, Fl. and he was by far the most helpful, pleasant, and delightful representative that I have ever dealt with. I am so grateful that I made the call ...Read More
-Clare

Share with friends  

Spanish government draws flak for opposing Iberia restructuring

The Spanish government has been strongly criticized for opposing the restructuring of its national carrier Iberia Airlines. International Airlines Group Chief Executive Willie Walsh stepped up his criticism of the Spanish government for its position. The International Airlines Group or IAG owns British Airways and Iberia Airlines.

Walsh has defended his decision to form the International Airlines Group in 2011 by merging British Airways and Iberia Airlines. Even after the merger, Iberia Airlines had performed badly and had been a drag on the IAG’s overall performance. Walsh vented out his frustration while speaking on the launch of British Airways inaugural flight to Chengdu.

Walsh said that the performance by Iberia Airlines in 2012 had been quite miserable. He said that British Airways reported a profit of $561 million (347 million GBP); while on the other hand Iberia Airlines reported a loss of $478 million (296 million GBP). This was despite reported ‘synergies’ from the $465 million (288 million GBP).

According to Walsh, the synergies with Iberia Airlines are fantastic and that’s a long-term structural benefit for the IAG. He said that Iberia Airlines needs to be restructured at all costs to offset losses. Undertaking restructuring exercise in the current circumstances would be easier, and particularly it will be even quite easier if the restructuring is done in a group such as IAG. He said that such a vocal opposition from the Spanish government was not expected and that the outbursts were badly timed.

** Fares are round trip, Fares incl. all fuel surcharges, our service fees and taxes. Tickets are non refundable, non transferable, non-assignable. Name changes are not permitted. Fares are subject to change without notice. Fares subject to availability. There is a higher probability of seats being available at this fare on Tuesday, Wednesday & Thursday. Certain Blackout dates may apply. Holidays & Weekend travel may have a surcharge.Other restrictions may apply. Displayed fares are based on historical data, are subject to change and cannot be guaranteed at the time of booking.