Iberia profits plunge 90 pct as crisis hits

Iberia profits plunge 90 pct as crisis hits

Agence France-Presse
The airline had expected the sharp drop in earnings as the economic downturn, which began to bite in the second half of the year, undercut demand. It said earnings were hit by soaring fuel prices through most of the year and the launch of high-speed train services between Madrid and Barcelona.