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BA owner issues profit warning as share price dives following Brexit vote

Published 24/06/2016

BA owner IAG's share price has tanked 19%
BA owner IAG's share price has tanked 19%

British Airways owner IAG has issued a profit warning following the UK's decision to leave the EU.

The company's share price tanked 19% to 425.6p in trading on Friday morning.

It issued a statement shortly before 10am which read: "F ollowing the outcome of the referendum, and given current market volatility, while IAG continues to expect a significant increase in operating profit this year, it no longer expects to generate an absolute operating profit increase similar to 2015."

The firm insisted it believes the vote " will not have a long-term material impact on its business", but added that it experienced "a weaker than expected trading environment" in the run up to the referendum.

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