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Sharply increased half-year losses at International Consolidated Airlines Group (IAG) have led chief executive Willie Walsh to warn of imminent major restructuring at subsidiary Iberia (IB) to correct "deep and structural" problems. Redundancies were inevitable, he said.
IAG, which comprises IB and British Airways (BA), slumped to an operating loss of EUR253 million ($312 million) before exceptional items for the six-month period ending June 30, compared to a profit of EUR88 million for...