LONDON (SHARECAST) - Pilots at Spanish airline Iberia, operating under International Airlines Group (IAG), have offered to lower their salaries by a half in order to save the company, Europa Press reports.
Ignacio Gordillo, lawyer for pilot union Sepla, explained that the union offered to lower salaries for new pilots by 50% and to lower flight crew operation costs by 58% in order to lower hourly flight costs from €638 to €258 in short and medium-haul flights.
Sepla's proposal includes measures to improve productivity by 10%. Iberia officials and pilots will meet this week in order to study the possibilities.
Shares were up 3.05% at 179p by 14:35 in London.