Tough time for Iberia
Source: Miguel Ángel Sanz en Unsplash Business class drop hits Iberia Iberia has reported a loss of 165.4m euros ($237.2m; £145.7m) in the first half of the year after passenger numbers fell during the downturn . Revenue plunged almost 20% to 2.2bn euros. The group said declines in business class passengers accounted for almost a third of this fall. As a result of the loss, Iberia said it would cut capacity by a further 5% in the second half of the year. The Spanish airline made a profit of 21m euros in the same period last year. Many major airlines have been struggling against falling passenger numbers during the downturn, with a number of them reporting big losses. On Thursday, Aer Lingus reported a big increase in first-half losses while Air New Zealand announced a large drop in annual profits. Source: BBC News