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Major IT Failure Hammers IAG's Shares

Major IT Failure Hammers IAG's Shares

International Consolidated Airlines (ICAGY) shares fell the most in more than two months in early Tuesday trading after as investors responded to an IT outage at the group's British Airways division which left tens of thousands of passengers stranded over one of the busiest travel periods of the year.

IAG stock fell more than 4% at the opening bell, to change hands as low as 586.50 pence before paring losses, marking the biggest intraday fall since March 27. The Stoxx Europe TMI Airlines index was quoted lower by 0.38%.

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British Airways Owner IAG Shares Fall Sharply as Investors Count Cost of IT Collapse

This article was written by a staff member of TheStreet.