A version of this article appears in the August 25 issue of Aviation Week & Space Technology. Iberia’s prospects did not look promising a couple of years ago and its parent, International Airlines Group (IAG), sent a message to the Spanish airline and its employees that was crystal clear: Shape up or scale down. Growth is not yet in the cards, but IAG CEO Willie Walsh is sufficiently happy with Iberia’s ongoing restructuring to order 16 new widebody aircraft worth $4 billion ...

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