IAG group issued a profit warning after the strike wave at its subsidiary British Airways. In addition to the work interruptions, the company also suffered from weak sales results at its budget companies.
IAG now expects the operating profit for one-off items to be 215 million euros lower this year than a year earlier. Initially, the company expected this result to be more or less comparable to that of 2018. The company is also more negative about its capacity growth in the fourth quarter.
Since the summer, British Airways has had to deal with the first strikes among its pilots in forty years. The airline had to cancel more than 2000 flights as a result of the promotions. Wage negotiations with pilot trade union Balpa have been locked so far.
The strikes at British Airways cost IAG an estimated 137 million euros. In addition, the weak ticket sales at price fighters at Vueling and LEVEL had a negative impact of 45 million euros.