RPT-IAG Q1 losses narrow on Iberia turnaround

Fri May 9, 2014 2:20am EDT

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LONDON May 9 (Reuters) - British Airways-owner International Airlines Group said on Friday its seasonal first-quarter loss narrowed by 46 percent, beating an consensus forecast, as a turnaround at its Iberia unit started to take effect.

The company posted an operating loss before exceptional items of 150 million euros in the three months to March 31, compared to the 278 million euro loss it made in the year earlier period, and against analyst expectations for a loss of 162 million euros from a company-compiled consensus.

Like most tour operators and airlines, IAG generally reports a loss in the traditionally weaker first part of the year and makes the bulk of its profits in the summer months. (Reporting by Sarah Young, Editing by Paul Sandle)

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