Iberia announces 74 million third quarter profit
Iberia, which is about to merge with British Airways, recorded a 74 million euro profit in the third quarter of the year, the Spanish carrier announced on Friday.
In third quarter 2009, Iberia suffered a loss of 16.4 million euros (22.6 million dollars) as the global economic slump savaged the airline industry but it returned to profit in the second quarter of this year, snapping a run of six consecutive losses.
For the nine months to September, the company reported a net profit of 53 million euros, recovering from a net loss of 182 million euros.
In April, Iberia and British Airways finalised a merger which will create Europe's second-biggest airline by market value after Germany's Lufthansa.
The deal should be completed by January next year after shareholders approve the move in November.
© 2010 AFP