BA Iberia suspension prompts eDreams shares suspension

Shares in Spanish online travel agency group eDreams Odigeo have been suspended after Iberia and British Airways withdrew sales.

The parent of eDreams and Opodo suffered significant losses today after the move by BA parent IAG, which claimed Odigeo had breached transparency rules over showing ticket prices to customers.

According to Bloomberg Iberia has issued a statement saying Odigeo was “not fulfilling its obligation to transparently report total ticket prices to clients from the start of the booking process”.

Bloomberg reported that Odigeo had said 2015 earnings would be “difficult to discern” after the firm was hit by changes to Google’s algorithm.

Rumours have been circulating in the industry that Opodo has been talking to airline partners about switching its model to meta-search. Travolution was not able to confirm this with Odigeo.

The Barcelona-based firm went public only in April the IPO seen as a sign of a return to health of the Spanish economy.

Shares in eDreams were down 59% to 1.023 euros before the suspension.

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