Iberia and fuel costs hit profits from BA-owner IAG

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Restructuring charges at Iberia and fuel costs have hit results at International Airlines Group (IAG), which owns both the Spanish flag-carrier and British Airways.

It reported a net loss for 2012 of 943m euros ($1.24bn; £816m), compared with a 562m euros profit in 2011.

IAG's fuel bill rose 20.4% to 6.1bn euros, while Iberia announced recently that it was cutting 3,800 jobs.
http://www.bbc.co.uk/news/business-21614621