IAG Posts 1Q After-Tax Loss of EU184M

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May 9 (Bloomberg) –- Bloomberg’s Manus Cranny reports earnings for IAG, the parent company of Iberia Airlines and British Airways. He speaks to Mark Barton on Bloomberg Television’s “Countdown.” (Source: Bloomberg)

We are getting breaking news from aig.

Manus cranny has the details.

A loss in the first quarter, which was expected.

After tax, 184 million.

Aig had 4 billion pounds in cash.

I am thinking those are the top line items.

The big thing, fuel costs for the quarter are down by 8.9%. this is a trend.

Iag showing a narrowing of loss.

Operating loss before items of 150 million euros.

That is a little bit better than the estimate.

Turning iberia around.

It has not been a small feet.

-- it has not been a small feat.

He has masterminded a deal.

Being the pilots to fly 100 hours, and additional 100 hours per month.

Setting up iberia express, transferring from iberia into iberia express.

Bringing down the starting salaries.

2013 cost base of 770 million euros.

They are talking about their overall cost base.

Some guidance about the full year.

Operating profits will be up by at least 500 million euros.

It will be profitable.

That is what we have been guided to.

You want to know a little bit more about the margins and how

This text has been automatically generated. It may not be 100% accurate.

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