British Airways owner dragged deeper into the red
BRITISH AIRWAYS owner International Airlines Group has been dragged deeper into the red by losses at Spanish carrier Iberia.
There was a charge of £263million for restructuring at Iberia where 3,100 jobs are being cut.
The group made a loss of £531million in the first three months of the year, against a £108million loss a year ago, on revenues flat at £3.3billion.
There was a charge of £263million for restructuring at Iberia where 3,100 jobs are being cut.
Chief executive Willie Walsh said the results were encouraging but there was “more work to be done” at Iberia.