IAG share price: Iberia announces initial wage deal with cabin crew

on Feb 25, 2014
Updated: Apr 9, 2020

iNVEZZ.com, Tuesday, February 25th: (LON:IAG) Iberia unit has reached an initial agreement with its cabin crew over measures to improve productivity, the Spanish airline has said. Today’s agreement follows a similar deal with a pilots’ union reached earlier this month.

In other IAG news, British Airways climbed to the top of a list of most loved ‘superbrands’ for 2014.
IAG’s share price has added just under one percent so far today.
**Iberia in a deal with cabin crew**
Iberia announced today in a statement that its cabin crew had joined pilots in agreeing to raise productivity at the airline. The agreement which still needs to be ratified retains a 14 percent cut in flight-attendant pay while eliminating a four percent pay cut imposed following the failure of earlier productivity talks.

Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.

Reuters quoted Iberia Chairman Luis Gallego as saying in an e-mailed statement that the preliminary agreement represented “a fundamental step to building the new Iberia, reducing its cost structure and establishing the cornerstones for profitable development”.
Iberia has been negotiating new labour conditions with its unions since the end of last year. Earlier this month, parent IAG announced that the Spanish airline had reached an agreement in principle with pilots’ union SEPLA to introduce permanent structural change and improve the airline’s viability. (IAG share price rises on Iberia’s ‘landmark’ agreement with pilots)

**British Airways on top of most loved brands list**
In a separate development, British Airways topped the latest Superbrands survey for the first time. The survey results, unveiled on Sunday, showed that the airline had beaten more than 1,500 companies to the top of the annual ranking of brand strength in the UK.

The Telegraph quoted Stephen Cheliotis, chief executive of The Centre for Brand Analysis (TCBA) and chairman of the Superbrands Council as saying that while British Airways had always performed well in the survey, its reputation had climbed in the past two years, “partly through the cementing of its successful ‘To Fly, To Serve’ positioning and the residual goodwill from its effective 2012 Olympic and Paralympic Games association”.

British Airways launched its ‘To Fly, To Serve’ rebranding two and a half years ago, dropping the previous ‘world’s favourite airline’ tag.
**Analysts on IAG**
BPI analysts last week reiterated their ‘strong-buy’ rating on IAG with a price target of 514.60p, while earlier this month, Deutsche Bank reaffirmed the FTSE 100 company as a ‘buy’ and raised its price target on the stock from 430p to 506p. IAG currently has a consensus ‘buy’ rating and an average price target of 527.25p.
**As of 14:19 UTC, buy IAG shares at 450.20p.**
**As of 14:19 UTC, sell IAG shares at 450.10p.**
Trade stocks with Hargreaves Lansdown from £5.95 per deal.
Prices can go up and down meaning you can get back less than you invest. This is not advice. Dealing services provided by Hargreaves Lansdown.


Want easy-to-follow crypto, forex & stock trading signals? Make trading simple by copying our team of pro-traders. Consistent results. Sign-up today at Invezz Signals™.

Learn more
Stock Market Transport & tourism