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Iberia: All airlines have thought that we could go bankrupt

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They will survive, which the rest cannot guarantee


R. R l Bogotá | June 28, 2020

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RELATED TOPICS: Air Europa, Coronavirus, Iberia, Luis Gallego


The president of Iberia, Luis Gallego, assures this Sunday in an interview that “all the airlines” have thought “at some point” of the possibility that they could not survive, “because when you see the box you have and the one you are burning month by month, month and you do the division you get a number of months. “

The 51-year-old man from Madrid, who has chaired Iberia since 2014 and who will be promoted to CEO of its parent company IAG in September, adds to El País that “in Iberia we had 1,100 million in cash at the beginning of the year, but with the crisis it was decreasing by seven million a day, 200 million a month because there is no income but there are costs. “

“Aside from resorting to financing, if we do not get the client to have confidence in flying again and start generating income, we all come to the same thing”, so this crisis forces us to change the strategy of “Iberia and that of all the world’s airlines. But we are ready ”, emphasizes Luis Gallego.

“If there is something frequent in the world of aviation, unfortunately, it is crises, and if there is something in Iberia that we know how to do, and that we have demonstrated throughout the 93-year history, it is managing crises. We have always known how to adapt to circumstances no matter how negative they were; reinvent ourselves, like since 2013; to become smaller in the beginning in order to eventually become stronger and bigger and continue to be the leading Spanish airline in the world ”, he says.

The Spanish airline will reduce the size of its fleet and the number and frequency of destinations it flies to in the face of the impact of the coronavirus pandemic on demand. “We will be smaller, but we will be, something that is not clear that other airlines will be able to say,” he said in the interview published on Sunday in which he did not address the issue of the purchase of Air Europa.

How you collected REPORTUR.co, the president of Iberia, called on the Spanish government to launch a plan that helps airlines “to emerge from the deepest crisis in the history of aviation.” Thus, he has warned that “by ourselves it is impossible for us to get ahead” (Iberia: “By ourselves it is impossible for us to get ahead”).


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