Iberia announces Transformation Plan to gain profitability

Iberia Airline recently announced its Transformation Plan and said that it is looking to a turnaround in its fortunes. The airline in a statement said that it is planning to make Iberia Airlines flights profitable once again.

The airline revealed that in the first nine months of 2012 its operating losses has mounted up and reached $341.28 million (262 million Euros). The current financial woes have made the airline worrisome, and have prompted to ensure its future viability with its Transformation Plan.

Iberia Airline disclosed that under its Transformation Plan the airline’s route network would be optimized and its most profitable and strategic routes strengthened. The plan also calls for dropping the loss making routes.

By putting into effect its Transformation Plan, Iberia Airline is hoping to resume growth if market and economic conditions allow and are favorable. The airline wants to increase its revenues by cutting costs. The airline has indicated that its Transformation Plan is going to help it build a solid platform for its future growth.