IT failure to cost British Airways €91.5m

British Airways owner IAG has said a power outage that led to the cancellation of hundreds of flights last month probably cost it about £80m (€91.5m) in lost revenue and the expense of accommodating, re-booking, and compensating thousands of passengers.

The figure is based on an initial assessment and IAG will update the market on the exact figure in due course, Willie Walsh, the group’s chief executive said at its annual shareholder meeting yesterday.

“It was a dreadful experience for many of our customers and we are truly sorry,” Mr Walsh said in Madrid, adding that “BA passengers will be compensated as soon as possible.”