International Consolidat... Share Discussion Threads

[pugugly] 15/6/2017 15:50

"British Airways technology chaos will cost £80m"


IMO if they can get away with only £80 million they will be very lucky - 75,000 passengers - Not much more than £1,000 per head - As was basically theeir fault - all be it by an outside contractor then probabilty of Clas Action could still be high with claim for consequential damages - Remember a lot of Yanks were involed and they tend to call in legal at the eariest chance. (all imo & dyor etc)

[jailbird] 15/6/2017 14:39

BA hit with baggage failure

[notimpressed] 15/6/2017 14:20

not a good day, no particular reason for drop,
iag purchasing own stock around 600p mark.
needs a heinekin moment.

[notimpressed] 07/6/2017 21:54

post 2884, if they are buying in at 590 why would
they sell at 525

[chiefbrody] 07/6/2017 14:37

Expecting a bounce here come Friday.

[chiefbrody] 07/6/2017 14:37

Good point.See what pans out in the coming weeks.

[sponges] 07/6/2017 14:29

Not sure if mentioned before by anyone on here but if the "engineer" in question happens to work for a contractor then surely the claims will be recouped against that engineers company's insurance - ie public liability insurance etc - just a thought

[pugugly] 05/6/2017 19:57

Now confirmed Human error!!!!!!!!!!!!!!!!!!!!!!!!!



"British Airways' parent company says that human error caused an IT meltdown that left 75,000 passengers stranded over the Bank Holiday.

Willie Walsh. boss of IAG, said that an electrical engineer disconnected the uninterruptible power supply which shut down BA's data centre".

The big question will be whether the contractor has sufficient insurance to cover BA's losses -

Also BA very much on the hook not only for direct costs of stranded passengers but also consequential damages - Will keep the lawyers busy for years.

[1savvyinvestor] 02/6/2017 09:19

Reckon Trumps pursuit of global pollution helps iag and other similar outfits

[ntv] 01/6/2017 19:13

ATTENTION DIRECTORS
POWER SURGE PROTECTOR AVAILABLE FROM HOMEBASE FOR £7.99 PLUS DELIVERY
IF YOU ARE NOT SURE HOW TO PURCHASE OVER THE INTERNET YOU MAY ALSO VISIT IN STORE TO PURCHASE
YOU CAN EVEN CLAIM THE VAT BACK

[chiefbrody] 01/6/2017 13:00

Take a look at their last year numbers. Sure it breaks it down there.Of the Operating profit last year (2.5B Eur). BA represented nearly 60% of that.Not sure if sales, net profit etc etc is similar.

[1savvyinvestor] 01/6/2017 12:24

What proportion of iag income is ba?

[pugugly] 31/5/2017 11:44

bill1946: I suppose yes but some US lawyers always on the look out to generate class actions where they can make money and Trumpism is "America First" so climate could be said to be in their favour at the moment - It all (imo) depends on how BA handle the problems and the determination of what caused the IT failure and whether it was an "act of God" or if industry standard quality controls (if not followed) could have prevented it.

[bili1946] 31/5/2017 09:58

Trifle cynical PUG?

[bili1946] 31/5/2017 09:58

Trifle cynical PUG?

[acamas] 31/5/2017 09:23

The financial summary looks sound PE, Acid Test, Dividend Cover etc. This does not look oversold as a Company. Some people might be overlooking the other brands in this group that also bring in profit.

We all have views on share buybacks but right now they could well be supporting this share over a trying short hiccup. So far two trading days and both are blue cannot complain at that

[pugugly] 31/5/2017 08:44

If Walsh using company (shareholders) cash to fund buybacks to allow his friends in the City to out before further falls in share price then he could be at risk of class action from US based shareholders (imo)

[buywell3] 31/5/2017 07:18

Meantime around 50,000 people are looking for their cases and other assorted hold baggage

Add that on to the cost of 75,000 delay claims average around £300 each
About 10,000 hotel costs claims average about £100 each
Loss of cases/luggage ? damage to same , around 10,000 at say £300 each

Damage to brand name , loss of business in 2017, another 150,000 flights at average £500 each ie lost business

do the maths

the sooner the boss goes the better Walsh must move but quick

meantime watch out for the big spike in buybacks RNS coming out tommorrow

and an even bigger spike in buybacks RNS coming out the day after that

[tp6] 30/5/2017 20:50

AIUI IT boss is a direct report of Walsh and not Cruz......

[luderitz] 30/5/2017 18:55

Willie(where are you)Walsh has yet to speak yet,hopefully something creditable when he does.

[ccr1958] 30/5/2017 17:31

Yes who is in charge of IT at BA....

[acamas] 30/5/2017 16:53

Down 1.4% at the close is a result after all the bad press over a long weekend. A single figure drop is even better than I expected at the start of play