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| - | Spain's Iberia has launched a new entry in Europe's competitive market for low-cost airlines.
| + | Blackberry manufacturer Research in Motion (RIM) has reported a quarterly loss, due in part to falling revenues on the back of weak smartphone shipments. |
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| - | The new airline, Iberia Express, begins on Sunday with prices starting at 25 euros (�21) for a one-way ticket. | + | The Canadian company made a net loss for the three months to 3 March of $125m (�78m), compared with a profit of $934m a year earlier. |
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| - | Iberia Express will cover Spanish cities including Madrid and the islands such as Ibiza, Fuerteventura and Lanzarote.
| + | Revenues fell to $4.2bn from $5.2bn. |
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| - | The launch comes after Spain's fourth-largest airline Spanair collapsed in January, stranding 20,000 passengers. | + | The firm also suggested it would refocus on the corporate market rather than on individual consumers. |
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| - | Iberia is owned by the same parent company that owns British Airways.
| + | It also announced the resignation of former co-chief executive Jim Balsillie. |
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| - | The low-cost Iberia Express has 500 staff and has a fleet of four Airbus 320 plane, according to Iberia chief executive Luis Gallego.
| + | Chief technology officer David Yacht will also be standing down. |
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| - | "The containment of costs will allow Iberia Express to grow and compete with the low-cost operators," he said.
| + | Shares in the company fell as much as 9% in after-hours trading following the trading statement. They have fallen by 80% over the past year. |
| - | Labour dispute
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| - | The new airline's website is advertising for pilots and cabin crew.
| + | Shipments of BlackBerry smartphones in the quarter fell to 11.1 million, down 21% from the previous three-month period. |
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| - | The airline will initially fly to the cities of Vigo, Santiago and Granada, as well as Menorca, Ibiza, Fuerteventura, Lanzarote and La Palma.
| + | Shipments of the company's PlayBook tablets hit 500,000, largely due to substantial discounting. |
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| - | Later, it will expand to the Republic of Ireland, Italy, Greece, Latvia and the Netherlands, Mr Gallego said.
| + | For the full financial year, the company made a net profit of $1.2bn, down from $3.4bn in the previous year. |
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| - | The airline is also the subject of a labour dispute, with the union representing Iberia's 1,600 pilots fearing it will lead to job losses. | + | The results were worse than analysts had expected and RIM shares fell sharply in after-hours trading. |
| | + | Corporate focus |
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| - | Spanair's collapse cause misery for its passengers
| + | RIM has struggled to keep up with rivals in the smartphone market, such as Apple's iPhone and handsets running on Google's Android operating system. |
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| - | The dispute with the union led to 12 days of work stoppages in December and January to protest the low-cost airline.
| + | It has also struggled to gain a foothold in the tablet market. |
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| - | Separately, the Spanish government has said it is taking legal action over the collapse of Spanair, saying it could be fined 9m euros.
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| - | In 2010, Spanair reported an operating loss of 115m euros.
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| - | After Spanair's collapse, Irish rival Ryanair said it was examining opportunities in Spain. "We certainly see it as an opportunity to expand our base," it said.
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Blackberry manufacturer Research in Motion (RIM) has reported a quarterly loss, due in part to falling revenues on the back of weak smartphone shipments.
The Canadian company made a net loss for the three months to 3 March of $125m (�78m), compared with a profit of $934m a year earlier.
The firm also suggested it would refocus on the corporate market rather than on individual consumers.
Shares in the company fell as much as 9% in after-hours trading following the trading statement. They have fallen by 80% over the past year.
Shipments of BlackBerry smartphones in the quarter fell to 11.1 million, down 21% from the previous three-month period.
Shipments of the company's PlayBook tablets hit 500,000, largely due to substantial discounting.
For the full financial year, the company made a net profit of $1.2bn, down from $3.4bn in the previous year.
The results were worse than analysts had expected and RIM shares fell sharply in after-hours trading.
Corporate focus
RIM has struggled to keep up with rivals in the smartphone market, such as Apple's iPhone and handsets running on Google's Android operating system.
