"Iberia is in a fight for survival and we will transform it to reduce its cost base so it can grow profitably in the future," Willie Walsh, the chief executive of I.A.G., said in a statement.
It added it was reviewing its cost base and capital expenditure plans for 2015 in the light of the recent plunging oil price, as well as its capital structure and funding requirements.
"Alcatel is strongly committed to reacquire its investment-grade status and is convinced that it is adjusting its cost base and financial structure on a timely basis in the current environment," the company said in a statement.
It must stem its cash losses and adjust its cost base permanently if it is to compete with other airlines in all its strategic markets and lay the foundations for profitable growth in the future".
The Polaroid Corporation, facing stagnant growth in its instant film business for the next two to three years, said yesterday that it would complete a review of its cost base within 90 days as it tries to reduce its debt load, which totaled $862 million at the end of the first quarter.
Likewise, when ITV cut £160m out of its cost base last year, it went on to increase its share of peak-time viewing and advertising overall.
PARIS — Siemens, the German engineering and electronics company, plans to cut 17,200 mostly white-collar jobs as it reorganizes to reduce its cost base, a person who has been briefed on the plans said on Sunday.
"With capacity utilization at 63 percent on a three-shift basis, Ford is seemingly beginning to acknowledge (somewhat belatedly) that it needs to address its cost base," Brian Johnson, a Barclays analyst, wrote in a note to investors.
Chelsea, owned by Russian oligarch Roman Abramovich, has reviewed its cost base as it seeks to remain on track to meet its target of becoming profitable by the 2010/2011 season, Kenyon said.
British Airways underlined how far its business model is out of kilter with its cost base as it reported a pre-tax loss of £292m in the six months to 30 September, compared with a profit of £52m for the same period last year.
But it is growing slowly, and its cost base is so high that its profit margins are meager.
