IAG struggles with Iberia restructuring costs

International Airlines Group, parent of British Airways and Iberia, has reported a loss of €670 million before tax during the first three months, once again citing the high costs of restructuring Iberia for the loss. IAG booked an exceptional charge of €311 million in the quarter, principally relating to restructuring at Iberia. Revenue for the quarter was up slightly by 0.5% to €3.9bn, however, and the group succeeded in reducing operating costs significantly, with fuel costs for the quarter falling 3.4% to below €1.4bn. Chie executive Willie Walsh stated that if exceptional costs were stripped out of the overall figures,