British Airways forced to cut growth plans after hitting turbulence

By David Shand/ Express

British Airways owner IAG has cut its growth plans for this year and its 2017 investment is under review after hitting turbulence.

The group lifted second-quarter profit 4.7 per cent to £468 million. But it took a £125 million currency hit as it reports in euros. It is also faces costs of at least £67.5 million in the second half, having cancelled more than 1,000 flights due to air traffic control strikes and poor weather.

Chief executive Willie Walsh said: “Numerous external factors affected our airlines including the impact of terrorism and Brexit uncertainty.”