The pilots of Spain's Iberia have agreed to strike on December 18 and December 29 in protest of management's plans to create a low-cost air carrier.

Iberia, which operates under the International Airlines Group holding since merging with British Airways, wants to launch a new airline next year to compete with low-cost rivals like Ryanair and Easyjet .

(Reporting by Robert Hetz; Editing by Tracy Rucinski)