Bloomberg.com: Britain- British Airways Says Alert Cost 60 Million Euro's (US $77 million)

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Britain- British Airways Says Alert Cost 60 Million Euro's (US $77 million)

British Airways Plc, Europe's third- biggest airline, said security-alert disruptions last month at U.K. airports following an alleged plot to blow up airliners cost the carrier 60 million euro's ($77 million). British Airways canceled 1,280 flights between Aug. 10 and Aug. 17 to relieve security-line congestion in the U.K., and growth in reservations has slowed, the London-based carrier said in a statement. Traffic last month rose 5 percent from a year earlier, led by increases in the number of business travelers.

``The cost is a little better than the worst-case scenario,'' said Penny Butcher, an analyst at Morgan Stanley in London with an ``equal weight'' recommendation on the stock. ``Otherwise, the data seems reasonably robust. The volumes still held up fairly well and the outlook statement says underlying conditions are good.''