British Airways owner loses £500m in value after IT meltdown

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

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Source: Guardian Transport

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