Day: March 24, 2012

Spain’s Iberia seeks survival in low-cost launch

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Spain’s Iberia launched its low-cost air carrier Iberia Express on Friday, defying union opposition as it pushes for commercial and financial survival in a tough environment. European airlines are battling soaring fuel prices, weak demand by cash-strapped consumers due to the euro-zone debt crisis and the burden of new taxes on air travel, as well as fierce competition from low-cost carriers such as Ryanair (RYA.I). Ryanair overtook Iberia, part of International Airlines Group IAG.L (ICAG.L), Continue reading Spain’s Iberia seeks survival in low-cost launch→

Spain moves toward freedom of information law

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Freedom of information in Spain came one step nearer Friday after the recently-elected government agreed to introduce a bill in response to widespread disgust over corruption and mismanagement by elected officials of both main political parties. The country’s Cabinet agreed to put forward legislation that will allow Spaniards to find out more about how their money is spent by government. Spain, which is struggling to get its public finances under control, is one of Europe’s Continue reading Spain moves toward freedom of information law→

Spain to hike power rates

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Spain’s centre-right government may decree on Friday an electricity rate hike of up to 7 percent for consumers and cut subsidies to power distributors by 10 percent, several newspapers reported on Saturday. However, government sources told Reuters there was no decision yet on the exact content or timing of pending energy sector reforms. The cut in subsidies to distributors would hold down Spain’s rising tariff deficit, which is backed by the government, by some 500 Continue reading Spain to hike power rates→