Iberia turns around loss but Vueling feels the pinch of costs

Iberia and its part-owned subsidiary Vueling have released financial results for the quarter to the end of Sep-2010 (3Q2010). Iberia has succeeded in turning a EUR56 million operating loss in the previous corresponding period (pcp) into a EUR77 million profit and, together with British Airways' surprisingly good 1H2010 results, the to-be-merged International Airlines Group is off to a good start. Not quite so with Vueling, who's EBIT and net profit result was down, contrasting with previously strong quarters.