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Last month, British Airways experienced a massive meltdown — a worldwide IT outage, forcing it to cancel more than 700 flights. As it later turned out — after more than 75,000 passengers’ travel plans were affected — the outage was caused by a contractor inadvertently switching the power supply off. Now, we know the damage caused to BA, monetarily speaking.

According to Reuters, Willie Walsh, CEO of BA’s parent International Airlines Group (IAG), said at the company’s annual shareholders meeting in Madrid, Spain that the outage cost the company around £80 million, or $102 million. The £80 million figure is only an initial assessment, too, so the total could creep even higher.

Walsh said that the company is investigating what happened and also said that it wasn’t connected to BA’s cost-cutting efforts. Following the massive outage, BA also faced more setbacks today when a baggage system at London’s Heathrow (LHR) failed. As a result, thousands of passengers had to leave the airport without their checked bags during peak morning travel hours. IAG also owns Aer Lingus, Vueling, Iberia and LEVEL.

Featured image courtesy of Steve Parsons – PA Images via Getty Images.

The Platinum Card® from American Express

The American Express Platinum card has some of the best perks out there: cardholders enjoy the best domestic lounge access (Delta SkyClubs, Centurion Lounges, and Priority Pass), a $200 annual airline fee credit as well as up to $200 in Uber credits, and mid-tier elite status at SPG, Marriott, and Hilton. Combined with the 60,000 point welcome offer -- worth $1,140 based on TPG's valuations -- this card is a no-brainer for frequent travelers. Here are 5 reasons you should consider this card, as well as how you can figure out if the $550 annual fee makes sense for you.

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More Things to Know
  • Earn 60,000 Membership Rewards® points after you use your new Card to make $5,000 in purchases in your first 3 months.
  • Enjoy Uber VIP status and free rides in the U.S. up to $15 each month, plus a bonus $20 in December. That can be up to $200 in annual Uber savings.
  • 5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel.
  • 5X Membership Rewards points on prepaid hotels booked on amextravel.com.
  • Enjoy access to the Global Lounge Collection, the only credit card airport lounge access program that includes proprietary lounge locations around the world.
  • Receive complimentary benefits with an average total value of $550 with Fine Hotels & Resorts. Learn More.
  • $200 Airline Fee Credit, up to $200 per calendar year in baggage fees and more at one qualifying airline.
  • Get up to $100 in statement credits annually for purchases at Saks Fifth Avenue on your Platinum Card®. Enrollment required.
  • $550 annual fee.
  • Terms Apply.
  • See Rates & Fees
Intro APR on Purchases
N/A
Regular APR
N/A
Annual Fee
$550
Balance Transfer Fee
See Terms
Recommended Credit
Excellent/Good
Terms and restrictions apply. See rates & fees.

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