BA owner to axe 4,500 Iberia jobs

The owner of British Airways is to axe 4,500 jobs as it battles to save its loss-making Spanish airline Iberia.

International Airlines Group (IAG), which was formed when BA merged with the Madrid-based carrier in 2011, will cut Iberia's capacity by 15% and downsize its fleet by 25 aircraft as it attempts to turn around an operation which made losses of 262 million euro (£210 million) in the first nine months of this year.

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