Iberia doesn't see profits before 2013 - CEO
Oct 18 (Reuters) - Spanish airline Iberia, which last year merged with British Airways to create the International Airlines Group , does not expect to post a profit before 2013 if tough market conditions persist, its chief executive said on Tuesday.
"It's going to be hard for us (Iberia) to return to profit before 2013," Iberia's CEO Rafael Sanchez Lozano told reporters, citing the burden of high fuel costs on the Spanish carrier's older aircraft and the poor economic situation in Spain.
Iberia's parent IAG, on the other hand, said earlier this month it was on track to deliver significant growth in operating profit in 2011 compared to 2010. (Reporting By Robert Hetz; Editing by Tracy Rucinski)
Oct 18 (Reuters) - Spanish airline Iberia, which last year merged with British Airways to create the International Airlines Group , does not expect to post a profit before 2013 if tough market conditions persist, its chief executive said on Tuesday.
"It's going to be hard for us (Iberia) to return to profit before 2013," Iberia's CEO Rafael Sanchez Lozano told reporters, citing the burden of high fuel costs on the Spanish carrier's older aircraft and the poor economic situation in Spain.
Iberia's parent IAG, on the other hand, said earlier this month it was on track to deliver significant growth in operating profit in 2011 compared to 2010. (Reporting By Robert Hetz; Editing by Tracy Rucinski)