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Iberia Airlines returns to profit

Fri 25th Feb 2011

Iberia airlines came back from losses in 2009 to making 89 million euros profit in 2010, prior to merging with British Airways in January 2010, the carrier reported earlier today.

Iberia's total losses for 2009 reached 273 million euros.

Last year's profit was explained partly due to the increase of long-distance travel - from which turnover grew by 17.6% - while earnings from medium-distance and domestic flights dropped by 1.4% and 6.4% respectively.

Earlier this year, Iberia finalised a merger with British Airways, forming the International Consolidated Airlines Group (IAG), however, each airline retains its separate brand identity.

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