Iberia Situation Critical

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  • Anonymous
    Guest

    Bucksnet
    Participant

    Says Willie Walsh during AGM speech: –

    “Iberia is facing huge challenges and must restructure if it is to survive. It reported operating losses of €351 million in 2012 – almost €1 million losses per day. The airline has become unprofitable in all its markets – including longhaul – and its high cost base means it is unable to compete effectively with other airlines, both European and Latin American.”

    He goes on to say “the situation is critical”.

    http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9MTkwNTE3fENoaWxkSUQ9LTF8VHlwZT0z&t=1

    So it’s true then, BA has been shackled to a corpse.


    craigwatson
    Participant

    Just softening up the workforce for the next annoucement….. The CUTS.


    Ah,Mr.Bond
    Participant

    IB has and always will be a bottom of the barrel carrier, I could have told WW tthat well before he chose to jump into bed with them…. for whatever oddball commercial reason. Questions have to be asked as to why IB operate out of T5 yet there are still BA services operating out of T3 – this is just shocking, Is WW honestly surprised that IB are now dragging the BA name down with them?


    canucklad
    Participant

    After watching the programme after “Airport Live” ,maybe Wee Willie should go out on a limb ……have a pint of Guiness with his Irish compatriot and convince him to save Iberia…….

    After all he rescued a total basket case in Ryan Air all those years ago….and now look at them!

    Maybe the BA shareholders could start a petition……

    Michael—Iberia needs you


    AllOverTheGaff
    Participant

    Oh…..I’m confused.

    Van der Post must not be on point, given only just 2 days ago he proclaimed:

    BA’s merger with Iberia is “working out”, and as American Airlines emerges from Chapter 11 bankruptcy protection, its alliance with BA will become “a raving success,” he says. “The new AA product is spectacular – as good as BA.”

    ?
    Rgds.
    AOTG.


    BigDog.
    Participant

    The situation is strongly redolent of Ed Milliband and the UK deficit. – The Guy needs to apologise for the c**p he has put his stakeholders in.

    Walsh now needs to man up and apologise for :
    a) Not ensuring IB had started major restructuring way before the merger. (Yet BA complied with IB pressure to get its own house in order in the years prior to the merger)
    b) Grossly over valuing IB thus royally shafting BA shareholders.
    c) Choosing to believe his own rose tinted view of the Spanish economic situation and ignoring the reality that it was a basket case and will continue to be so for years.
    d) The huge losses IB have subsequently incurred.
    e) Continuing to demand excessive rewards for himself despite the catalogue of failures above.

    Although it would be embarrassing for the board to admit they got it wrong they need to act – until then When Will Willie Apologise?


    canucklad
    Participant

    You’re close BigDog……

    I wouldn’t say Ed Milliband, his performance is more reminiscent of Fred the Shred…..

    In fact the parallels’ are stunningly similar !


    AnthonyDunn
    Participant

    @ BigDog. – 21/06/2013 09:37 GMT

    +1


    HongKongLady
    Participant

    The only way to save Iberia is to end it’s misery. From the top to the bottom all has to change. Staff attitude and training needs to be at the forefront as does putting together a business model that works. maybe Canucklad has a fair point, a Michaelesque personality might be just what they need. I have an admiration for him after watching him on TV last night, handing out staples by the strips and a ‘no company pens’ policy made me smile. I have never flown with them but it made me a little tempted to try one, ok just a little. I wonder if I could buy champagne on board my flight to almost where I want to go !


    Hermes1964
    Participant

    Iberia surely needs to combine Iberia Express and Vueling and feed a more selective long haul network with a smaller fleet of its more fuel efficient A330s. Spain’s dire economic situation dictates a new flag carrier model and requires some brave decisions by IAG a.s.a.p. Shareholders don’t appear to be being offered any vision for the future and can take little comfort from the fanfare of new shiny planes at Heathrow.

    WW’s days must be numbered at this rate. It’s a shame because there’s a lot about IB’s long haul business offering that is very pleasant (as per my recent reviews)


    AnthonyDunn
    Participant

    @ HongKongLady – 21/06/2013 11:00 GMT

    Ahem, I think you might just be displaying the consequence of all those pampered years courtesy of CX…. §:-)

    If you ever get around to taking a Flyanscare flight (there are the odd uproarious reviews from Canucklad if you want a really good belly laugh) then think rather more along the line of “beer and skittles…” And that’ll be £55 for the privilege…


    BigDog.
    Participant

    I beg to differ Hermes. Vueling is the rare jewel in the IAG sombrero cordobes. It has grown and performed exceptionally well indeed prior to IAG control. IAG management could only adversely impact its performance – if it ain’t broke then don’t fix it.

    Personally though I would like to see more Long Haul moved to the more affluent Barcelona region with its HS rail link able to leverage southern France markets. Potentially BCN becoming a far better placed hub.


    transtraxman
    Participant

    LH?


    Hermes1964
    Participant

    BigDog
    My suggestion was more the possibility that Vueling could do the work of IB’s shorthaul operation. I agree that as the bit of IAG’s empire that works they should otherwise aim to leave it alone.

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