SHARES in online travel agency eDreams Odigeo have plunged 59 per cent on the Madrid stock exchange after British Airways and Iberia said they were withdrawing their fares from three of its websites.
Trading in the shares was eventually suspended yesterday by Spain's stock market regulator. They last changed hands at 1.023 Euros each (81 pence).
The two airlines, part of the International Airlines Group (IAG), said in a joint statement that they would no longer allow the agency to promote their fares on eDreams in France, Opodo in France and eDreams.com, due to a lack of transparency in the final price.
BA and Iberia said eDreams' practices "go against European and Spanish legislation and hurt the companies by impeding transparent information on fares for clients".
The airlines said they were in talks with eDreams Odigeo to reach an agreement that would allow them to return their fares to the websites.
It was not immediately clear whether other European airlines such as Air France and Lufthansa would follow suit. The Spanish stock market regulator did not say when the suspension would be lifted.
The firm debuted on the Madrid stock exchange in April.
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