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British Airways’ profit forecast slashed on £’s post-Brexit dip

 PTI |  2016-10-29 23:59:24.0  |  London

The parent group of British Airways on Friday lowered its annual earnings forecast for a second time since Britain voted for Brexit, blaming the downgrade mainly on a plunging pound. It follows a similar profits downgrade earlier this month from Irish no-frills airline Ryanair, highlighting the impact of Britain's sliding currency on companies that report in euros. International Airlines Group, owner of BA and Spanish carrier Iberia, said it expects full-year operating profit of 2.5 billion euros ($2.7 billion).

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