It’s really BA management in charge of the whole shebang, though, isn’t it?
They have their newly positioned placemen running IB and have only relatively recently begun to assert control.
Rather than a corpse, I’d suggest IB is a somewhat obese patient which has gorged unhealthily for too long on the fat of State vested interests and largely been in thrall to its Unions.
IB is now being put on a crash diet (unfortunate turn of phrase, but I’ll let it stand) and should emerge leaner and more effective in the future.
In the meantime, should the gastric band not work, there is vueling waiting in the wings to take up the Iberia routes on renewed T&Cs which are more compatible with current economic necessity.
So there’s a Plan A which is in hand, though until recently being impacted by intransigence of the Unions, and a Plan B which is well thought through and presents an easy get out of jail card if required.
BigDog is quite right, however, to highlight the poor information flows which have lead this to become a “surprise” to analysts.
However, thinking more strategically for a moment there may well be method in their madness if IAG is trying to depress the share price to make it more appealing for Qatar to step in and take over Bankia’s shareholding….things may not be as clear cut as they at first seem….!