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Iberia's loss worse than expected

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Iberia's loss worse than expected

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The financial turmoil in the skies continues.

Spain’s Iberia said it suffered a first quarter operating loss of 147 million euros. That was worse than industry analysts had predicted and compares with a 28.3 million euro loss in the same period the year before. Iberia has confirmed it is unlikely to make a profit this year if the crisis continues.