BA delays: Owner loses £500m in value

BA delays: Owner loses £500m in value

BA delays: Owner loses £500m in value

Written by Staff Writer

30 May, 2017 | 4:23 pm

British Airways is now operating a full flight schedule after an IT failure saw the airline cancel thousands of flights over the bank holiday weekend.

“Our IT systems are now back up and running and we will be operating a full flight schedule at Heathrow and Gatwick,” the airline said.

But it warned it “may take some time” to reunite travellers with their bags.

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.

The airline had to cancel flights at London’s Heathrow and Gatwick airports on Saturday when a power surge knocked out messaging across its IT systems. Flights on Sunday and Monday were also affected, although BA said on Tuesday it was back to running a full flight schedule.

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