IAG profits boosted by progress at Spain’s Iberia

British Airways owner IAG has reported better-than-expected first-quarter results, with a halving of losses at troubled Spanish carrier Iberia putting it on course for a rise in annual profits.

Iberia has — in recent months — settled a number of employee disputes on work and pay, which IAG has said will see the Spanish carrier return to profit.

“The performance, so far this year, has been one that has pleased us significantly given the reduction in operating losses in the first quarter.