Iberia Group unveiled a broad cost-cutting plan intended to save more than €200 million this year as it reported a first-quarter consolidated net loss of €92.6 million ($122.3 million), a steep deterioration on the €0.4 million lost in the year-ago period. Citing a large decline in overall demand and business class traffic in particular, IB said operating revenues plunged 15.6% to €1.09 billion against a 6.5% drop in operating expenses to €1.25 billion. ...

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