British Airways-owner IAG is facing a record $230m (€205m) fine for the theft of data from 500,000 customers from its website last year under tough new data-protection rules policed by the UK’s Information Commissioner’s Office (ICO).

IAG has reiterated its intention to purchase Aer Lingus on the back of a 20% upgraded profit guidance for this year.

Shares in Flybe Group slumped more than 20% yesterday after the British budget airline said it would break even before tax in its financial year, ending in March, after a fall in third-quarter passenger revenue.

Flybe’s turnaround plans suffered a setback today after the regional airline warned its full-year results were likely to be weaker than expected.