London Heathrow closure after substation fire cost IAG around €50m

Closure of London Heathrow following a power outage on 21 March had a €50 million ($56 million) impact on the operating profit of British Airways and Iberia parent IAG.

IAG disclosed the figure during a first-quarter briefing on 9 May, stating that the closure contributed to an overall 8.8% increase in non-fuel unit costs.

Fire at a large electricity facility known as North Hyde, east of Heathrow, resulted in the power outage.

Forensic investigation into the fire has, so far, been unable…