Rivals create Iberia turbulence

Ryanair hit by high fuel prices
Ryanair warns it could make an annual loss of up to 60 million euros if oil prices stay high as it cuts fares.

Indian inflation approaches 12%
Soaring food and fuel prices push inflation in India to a 13-year high of 11.89%, threatening growth prospects.

Rising costs to dominate G8 talks
World leaders are starting a key summit in Japan that is expected to focus on soaring global food and fuel prices.

Fuel move boosts Chinese shares
Chinese shares close 3% higher after the government raises fuel prices to try and cool energy demand.

Qantas faces stoppage over pay
Australian airline Qantas faces turbulence next week when engineers begin a series of strikes over pay.