Synergies
IAG chief executive Willie Walsh said in a statement: "The merger will lead to annual synergies of 400 million euros from year five."
Just in case anyone missed it, that means their wages bill is going to go DOWN by 400 million euros a year.
In other words: about 10,000 people are going to get sacked.
I guess each of us will know at least one of them.
Sad.