Airline shares mixed as flight disruption continues
Airline stocks were mixed this afternoon as flight travel disruptions continue. Shares in British Airways owner IAG and Ryanair were lower, while easyJet stock's rose on Wednesday afternoon. IGTV’s Angela Barnes has more.
(Video Transcript)
Airline shares mixed amid mayhem
Airline stocks are mixed this afternoon as flight travel disruptions continue. Thousands of passengers were left stranded after a UK air traffic control failure meant flight plans had to be put in manually by controllers. National Air Traffic Services said a flight plan that its systems could not process was behind Monday's technical problem.
If we look at airline stock charts now, we can see that Ryanair Holdings up 0.69% today, easyJet down 0.06% and British Airways owner IAG down 0.97%, nearly 1%. So, a mixed reaction and no big moves here on airline stocks.
Knock-on disruptions could continue
But of course, the markets don't know how this story will evolve just yet. And passengers have been warned to expect continued knock-on disruptions for the next couple of days. And some airlines have been refunding passengers as well. Michael O'Leary, who's the boss of Ryanair, said it had to cancel about 250 flights on Monday, which affected about 40,000 passengers.
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