Iberia pilots deal hailed

An agreement by pilots at Spanish airline Iberia to raise productivity as part of a turnaround programme eliminating more than 3,000 jobs, was hailed as “a bold deal” by parent group CEO Willie Walsh yesterday.

The pact, which needs to be ratified by the Sepla union’s general assembly, “provides a strong foundation to put Iberia on the path towards sustainable profitable growth,” its parent IAG said yesterday.

The accord retains a 14% cut in pilot pay while eliminating another 4% reduction that would have come without productivity agreements, IAG said.