British Airways owner issues profit warning as share price dives following Brexit vote

British Airways owner issues profit warning as share price dives following Brexit vote

British Airways owner IAG has issued a profit warning following the UK's decision to leave the EU.

The company's share price tanked 19% to 425.6p in trading on Friday morning.

It issued a statement shortly before 10am which read: "Following the outcome of the referendum, and given current market volatility, while IAG continues to expect a significant increase in operating profit this year, it no longer expects to generate an absolute operating profit increase similar to 2015."

The firm insisted it believes the vote "will not have a long-term material impact on its business", but added that it experienced "a weaker than expected trading environment" in the run up to the referendum.

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