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British Airways owner IAG’s first quarter losses narrow

IAG, the parent of British Airways, has narrowed its first-quarter loss by over €100 million on last year.

Europe’s third-largest airline had an operating loss of €150 million, excluding one-time items, down from €278 million last year.

This has been attributed to a recovering U.K. economy encouraging demand, and the carrier has pushed through labor deals to cut costs at unprofitable Spanish unit Iberia.

In April, Iberia signed labour agreements with its pilots, cabin crew and ground staff unions after ratification by the unions’ assemblies.

The group said that the restructuring of Iberia, which was merged with British Airways in 2011 helped it recover its losses.

British Airways announced the location of the world’s first facility to convert landfill waste to jet fuel. The airline has committed to buying all of the jet fuel from the plant being built in Essex by Solena Fuels which will go into production in 2017.

This was posted in Bdaily's Members' News section by Clare Burnett .