British Airways and Iberia parent International Consolidated Airlines Group posted a €184 million after-tax loss for the three months ending March 31,

compared with a €630 million loss for the same period last year. Passenger revenue rose nearly 10 percent to €3.7 billion, with group capacity up nearly 12 percent and traffic up 11 percent. Unit revenue, however, declined 1 percent year over year. Iberia "almost halved its losses from quarter one last year," according to IAG CEO Willie Walsh, while BA narrowed its operating loss to €5 million from €72 million from the prior-year period.