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IAG counts cost of BA power failure

Atol
Gary Noakes
27 October 2017

The power failure that crippled British Airways over the late May bank holiday cost its parent company €65 million in compensation and baggage claims, latest figures have revealed.

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Taking this and other exceptional costs, including €180 million of restructuring at Iberia into account, the International Airlines Group made an after-tax profit of €1.567 billion in the nine months to September 30, with the three-month period earning €1 billion.

IAG’s profits for the nine-month period are up 21.7% year on year, with the latest quarter showing an 18.1% increase.

IAG’s brands – BA, Iberia, Aer Lingus, Level and Vueling – carried 3.3% more passengers year on year.