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Updated Saturday, November 14, 2009 12:51 am TWN, AP

Iberia reports third quarter loss of US$24.5 million

MADRID -- Spanish airline Iberia SA, poised to merge with British Airways PLC, reported Friday a loss of euro16.4 million (US$24.5 million) in the third quarter, compared to a profit of euro30.4 million a year earlier, as the economic crisis sapped demand for air travel. Iberia, which announced the preliminary merger agreement with British Airways on Thursday night, said passenger traffic continued to fall, particularly in business travel.
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