Airline hit by computer crisis
BA owner sees £500m wiped from value after IT crash
British Airways owner IAG saw £500 million wiped off its value this morning as investors reacted to the weekend IT meltdown.
Just after the opening of the London Stock Exchange the shares fell 4.3% to 588p. They clawed back some of their losses to close 1.38% lower or 8.5p at 605.5p.
The company is now operating a full flight schedule following the weekend computer collapse which left thousands of passengers stranded at airports around the world.
“Our IT systems are now back up and running and we will be operating a full flight schedule at Heathrow and Gatwick,” said the airline.
But it warned it “may take some time” to reunite travellers with their bags.
BA chief executive Alex Cruz has blamed a power surge for the disruption which affected 75,000 people.
IAG also owns carriers Iberia, Aer Lingus and Vueling.