Iberia's second-quarter net profit of €21.2 million ($33 million), down 66.2% from the €62.6 million reported in the year-ago quarter, belied the operational difficulties facing the carrier, which swung to an operating loss. Operating revenue rose just 0.9% year-over-year to €1.37 billion while costs were up 5.6% to €1.37 billion. Passenger revenue dropped 2%. IB's operating result was a €4 million loss, reversed from a €56.9 million profit in the second ...

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