London — British Airways (BA) will financially compensate customers whose data was stolen in a "sophisticated" and "malicious" hack, CEO Alex Cruz said on Friday as he apologised for the fiasco. Late on Thursday, BA revealed that personal and financial details of customers who booked flights on the group’s website and smartphone app between August 21 and Wednesday August 29 had been stolen. The revelation comes just a few months after the EU tightened data protection laws. "We’re extremely sorry for what has happened," Cruz told the BBC on Friday. "There was a very sophisticated, malicious, criminal attack on our website." BA took out full-page adverts in UK newspapers on Friday to apologise to customers, while the share price of parent group IAG was down more than 3% in London deals. "We are 100% committed to compensate them," Cruz said. "We will compensate them for any financial hardship that they may have suffered."

BA said it had launched an urgent investigation after real...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now