LONDON Feb 28 International Airlines Group
, the owner of British Airways and Spain's Iberia, swung
to a full-year operating loss, hit by its underperforming
Spanish unit and higher fuel costs.
IAG, Europe's fourth-biggest airline group by market value,
on Thursday reported a 2012 operating loss of 68 million euros
($89.14 million) compared to the 485 million euro profit it
posted a year earlier.
The results were hit by a 6.1 billion euros fuel bill, 20.4
percent higher than in 2011, and a 351 million euros operating
loss at Iberia. British Airways delivered an operating profit of
347 million euros.
The group was expected to report an average 2012 operating
loss of 82 million euros, according to a Thomson Reuters I/B/E/S
poll of 16 analysts.
IAG's full year revenues rose 10.9 percent to 18.1 billion
euros, but non-fuel costs rose 11.6 percent to just over 12