Iberia narrowed its first-quarter consolidated net loss to €52 million ($65.5 million), a 43.8% improvement over the €92.6 million deficit in the year-ago period, on a 4.4% decline in revenue to €1.05 billion.
Operating costs narrowed 9.5% year-over-year to €1.13 billion owing to a 21% reduction in fuel expenses as well as capacity cuts and cost control measures. Consequently, recurring operating loss almost halved to €75.5 million from a negative €147.3 million EBIT a year earlier.
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