Iberia Group earned €45.3 million ($54.9 million) in the second quarter ended June 30, down 37.3% compared to a profit of €72.3 million in the year-ago period, while net earnings for the first half of 2005 fell 53% to €29.2 million from €62.2 million in 2004. The company said the decline in half-year results "stems from the 20% hike in fuel costs and the extraordinary income in 2004 from the divestment of Iberswiss and the flight simulator center, which increased ...

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