International Airlines Group narrows losses

International Airlines Group has seen its losses narrow on rising revenues in the company's first results since the British Airways-Iberia merger.

The firm lost 47m euros ($68m; £42m) in the first quarter of the year, down from a 273m euro loss a year ago.

Revenues jumped 15.4 per cent on the year as business volumes recovered, and despite a 31% jump in fuel costs.

The Spanish and British two national flag carriers completed their merger in January.

Willie Walsh, the former BA chief executive who run the new group said: "Fuel costs remain the big challenge facing the industry."

"The continued focus on cost control has been achieved while we have seen some measured increases in capacity.