BA group posts large loss

The merged group of British Airways and Iberia, International Airlines, has just posted a loss of £306 million on the back of higher airport duties and increased fuel costs, against a profit the previous year of £30 million.

Just over £200 million of this has come from the Spanish arm of the group, currently undergoing a huge restructuring programme that will be completed in the next two months.

Further job cuts are anticipated but is is not clear where they will fall.

However, cutting staff in what was the Spain's national carrier and increasing the country's 24.8% unemployed, will no doubt be received badly in the Spanish press if the cuts are substantial.