BA owner IAG sees losses widen on higher fuel costs
IAG, the parent firm of British Airways (BA) and Spain's Iberia, has reported widening losses, due in large part to higher fuel costs.
Pre-tax losses for the first three months of the year were 263m euros ($340m; £211m), compared with losses of 47m euros a year earlier. Revenue rose 8% to 3.9bn euros.
Fuel costs rose by 281m euros, while strikes at Iberia cost 25m euros.
The airline said the outlook for the aviation industry remained uncertain.
Jeremy Howell reports.
11 May 2012
- From the section Business