IAG shares tumble as pilot strike set to dent profits

Shares in Aer Lingus owner IAG fell by almost 4% after the group warned that full-year profit will be hit by a pilots’ strike at its British Airways subsidiary and weaker sales by budget stablemates Vueling and Level.

Shares in Europe’s third largest airline group had fallen by over 5% at one point after it said recurring operating profit will fall €215m to €3.27bn this year in the wake of a strike that grounded thousands of BA flights this month.