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4,500 jobs to be axed at Spanish airline Iberia

The owner of British Airways has announced plans to axe 4,500 jobs as it attempts to stem losses at its Spanish airline Iberia.

International Airlines Group will cut Iberia's capacity by 15% and downsize its fleet by 25 aircraft as it battles to revive an operation which made losses of 262 million euros (£210 million) in the first nine months of this year.

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