BA and Iberia group reports loss
FG_AUTHORS: Super User
3 August 2012
Last updated at07:43
IAG says it will announce job cuts and a restructuring plan for Iberia by the end of September
IAG says it will announce job cuts and a restructuring plan for Iberia by the end of September
The parent group of British Airways and Iberia has reported a 390m-euro ($476m; £306m) loss for the three months to the end of June and warned: "it will not be able to avoid job losses."
That compares with a 39m-euro pre-tax profit in the same period last year.
Spanish carrier Iberia was worst hit. Its operating losses widened to 263m euros in the period.
International Airlines Group said it would finalise a restructuring plan by the end of September.
