London: British Airways-owner International Airlines Group said Thursday that it slashed its first-quarter losses on increased transatlantic business, cost controls and an ongoing recovery at its Spanish wing Iberia.
Losses after tax stood at 26 million euros (Dh104 million, $29 million) in the three months to the end of March, IAG said in a results statement. That compared with a much larger loss of 184 million euros a year earlier. The group meanwhile rebounded into an operating profit of 25 million euros. That contrasted with an operating loss of 150 million euros last time around. Sales climbed 12 per cent to 4.707 billion euros in the reporting period.
