International Consolidated Airlines Group SA (CDI) (IAG)

Sector:

Tourism and Leisure Services

Index:

FTSE 100

163.40p
   
  • Change Today:
    -4.80p
  • 52 Week High: 186.45
  • 52 Week Low: 138.00
  • Currency: UK Pounds
  • Shares Issued: 4,971.48m
  • Volume: 9,296,520
  • Market Cap: £8,123m
  • RiskGrade: 338

British Airways flights grounded in South Africa

By Abigail Townsend

Date: Wednesday 16 Mar 2022

LONDON (ShareCast) - (Sharecast News) - British Airways flights have been grounded "indefinitely" in South Africa by the country's aviation regulator.


The South African Civil Aviation Authority temporarily suspended Comair, which runs BA-branded services across southern Africa, from flying on Saturday before extending the suspension indefinitely.

In a statement, the SACAA said the ban had followed a site visit to "investigate and determine the cause of a spate of occurrences" affecting a number of flights operated by Comair and its low cost carrier Kulula.com.

Following the probe, the regulator raised three level 1 findings, and one level 2 finding. Level 1 findings pose "an immediate risk to safety and security".

According to the Daily Telegraph, the planes have been grounded over fears of potential engine failures and landing gear malfunctions.

The regulator said: "The SACAA is fully committed to ensuring that the operator is back in the air, and has dedicated a full team to assess and review the evidence as it gets submitted. The commitment to safety in this case supersedes any other need."

Comair said at the weekend that it was unable to confirm when it would start flying again.

Chief executive Glenn Orsmond added: "This is a huge blow to our customers, employees and the flying public, as it effectively takes 40% of the capacity out of the market. The implications for the aviation sector and the country are considerable, should the suspension continue for any length of time."

He added that the company was continuing to engage with the regulator to get the suspension lifted.

Neither BA nor its parent International Airlines Group have yet commented on the suspension.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

BA Market Data

Currency UK Pounds
Share Price 163.40p
Change Today -4.80p
% Change -2.85 %
52 Week High 186.45
52 Week Low 138.00
Volume 9,296,520
Shares Issued 4,971.48m
Market Cap £8,123m
RiskGrade 338

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Value
86.82% above the market average86.82% above the market average86.82% above the market average86.82% above the market average86.82% above the market average
76.92% above the sector average76.92% above the sector average76.92% above the sector average76.92% above the sector average76.92% above the sector average
Price Trend
55.74% above the market average55.74% above the market average55.74% above the market average55.74% above the market average55.74% above the market average
70.91% above the sector average70.91% above the sector average70.91% above the sector average70.91% above the sector average70.91% above the sector average
Income
91.87% above the market average91.87% above the market average91.87% above the market average91.87% above the market average91.87% above the market average
90.00% above the sector average90.00% above the sector average90.00% above the sector average90.00% above the sector average90.00% above the sector average
Growth
98.65% above the market average98.65% above the market average98.65% above the market average98.65% above the market average98.65% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average

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