This content is not available in your region

The planes in Spain make less of a loss

The planes in Spain make less of a loss
Text size Aa Aa

Iberia has posted a narrower than expected operating loss in the first six months of the year.

The Spanish carrier said improving business travel and air cargo demand made up for losses from flight cancellations during the Icelandic volcanic ash cloud in April.

Iberia, which plans to merge with British Airways, said it lost 72 million euros in the period. Analysts had predicted an 88 million euro operating loss.

Revenue rose 2.8 percent to 2.23 billion euros in the six months to the end of June, underpinned by a recovery in business class and cargo traffic.

Net losses narrowed to 21 million as the airline continued to implement strict cost controls.

Iberia said it booked about a 20 million euros net loss on disruptions to air travel from the Icelandic volcano, but this did not prevent it from posting a net profit both at the operating and net levels in the second quarter.