British Airways owner counts cost of pilot strike action

The group revealed a 6.9% drop in third quarter underlying operating profits to 1.4 billion euros (£1.2 billion).

British Airways owner IAG has seen earnings knocked by a 155 million euro (£134m) hit from a summer of strike action (Steve Parsons/PA)

By Holly Williams, PA Deputy City Editor

British Airways owner IAG has seen earnings knocked by a 155 million euro (£134 million) hit from a summer of strike action as the UK carrier faced the first industrial action by pilots in its history.

The group revealed a 6.9% drop in third-quarter underlying operating profits to 1.4 billion euros (£1.2 billion) and reiterated last month’s profit warning that the impact of the strikes would leave 2019 earnings 215 million euros (£186 million) – or 6% – lower.