More losses for British Airways owner

The owner of British Airways posted another big loss today but insisted a painful restructuring at Spanish carrier Iberia was starting to pay off.

International Airlines Group, formed from a merger of the two airlines in 2011, made a pre-tax loss of €506m in the six months to June 30 following one-off costs from an overhaul which has so far seen the loss of 1,700 Iberia staff.