British Airways' owner has slashed the amount it's set aside for a UK fine for its major data breach in 2018 by almost 90 percent from the 183 million pounds (USD 240 million) originally proposed by the country's data regulator.
After a year of negotiations with the Information Commissioner's Office, International Airlines Group now estimates that it may need to pay 22 million euros (USD 26 million) as a result of the watchdog's probe.
"The exceptional charge of 22 million euros represents management’s best estimate of the amount of any penalty issued by the Information Commissioner's Office (ICO) in the United Kingdom, relating to the theft of customer data at British Airways in 2018," IAG said in a filing today on its financial results for the six months to June 30.
"The process is ongoing and no final penalty notice has been issued," the group said.
In a Feb. 28 report, BA said its directors expected "a considerably lower amount than the initial Notice of Intent" last July.
Since then, it's expected that the airline will have added fears over the economic consequences of the Covid-19 pandemic to its arguments for a lower fine or even a reprieve.
After repeatedly missing deadlines — in December, March and May — to hand BA a final penalty, the ICO is expected to finalize the amount in coming months.
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