Iberia Group posted a first-quarter net profit of €12.2 million ($16.5 million), reversed from a €57.2 million loss in the year-ago period, owing to continued network restructuring and cost-cutting initiatives. Revenue rose 8.5% to €1.31 billion while costs increased 2.4% to €1.30 billion. Fuel expense, which represented 20% of total operating cost, lifted just 1.2% to €261 million. Fuel costs actually fell 1.4% in unit terms as the airline benefited from fuel ...

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