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IAG reports loss

International Airlines Group, the parent of British Airways and Iberia, has announced a €390m loss for the first six-months of 2012.

Comparatively, the group cited a €39m pre-tax profit for the same period in 2011. Losses were greatest within Iberia which will face substantial restructuring. IAG chief Willie Walsh warned that job losses were inevitable.

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Date: August 3, 2012

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