Iberia pulls IAG down to full-year loss

€350 million loss at Iberia vs. €350 million profit at BA

International Airlines Group, the company that owns both British Airways and Iberia, today posted a full-year operating loss. The result was weighed down by the underperforming Spanish airline and higher fuel costs.
IAG reported an operating loss of €68 million for 2012, a huge downward swing from the €485 million profit it posted for 2011. A €351 million operating loss at Iberia contrasted with British Airways’ operating profit of €347 million.
The overall loss was less than the average analyst forecast of €82 million, according to Thomson Reuters data. But including restructuring costs at Iberia, the loss was €613 million.
[photo courtesy oneworld]

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