British Airways owner loses £500m in value after IT meltdown
IAG shares plunge amid fears for airline’s reputation after IT failure stranded 75,000 passengers on busy holiday weekend
Half a billion pounds has been wiped off the market value of the British Airways owner, IAG, after computer system outages grounded hundreds of flights over the weekend.
IAG shares fell more than 4% to 588p in London on Tuesday after the flight cancellations left 75,000 passengers stranded over the bank holiday weekend.
Related: British Airways could face £100m compensation bill over IT meltdown
Our Chairman and CEO, Alex Cruz, apologises for the disruption caused by the recent IT system issues and… https://t.co/DRqwuM3SvF
Source: Guardian Transport
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