Iberia Socks Cash Away by Pressing Travel Agencies
25 June 2004 6:00am
As part of Iberia Airlines´ new plan, the Spanish air carrier is planning to save millions of euros by slashing commissions paid to travel agencies. The entire plan foresees savings in the neighborhood of 350 and 400 million euros.
Beginning on July 1, travel agencies will only collect 2 percent in commissions, a figure that will skid to just one percent in January 2005. Travel agencies are right now getting a 3 percent slice of all plane tickets sold for Iberia-operated flights.
