(Adds detail, background, vote on warrants)
PARIS May 10 PSA Group expects Opel to lose more money in 2017 as the French carmaker acquires the business from General Motors, Chief Executive Carlos Tavares said on Wednesday.
"A certain number of good achievements have been made under General Motors' leadership," Tavares told shareholders at PSA's annual general meeting in Paris, highlighting sales growth and reduced losses at the GM brand.
"But we must recognise that the losses are real and probably will be again in 2017."
The maker of Peugeot, Citroen and DS cars agreed in March to acquire Opel in a deal valuing the GM European arm at 2.2 billion euros ($2.4 billion).
Tavares reiterated on Wednesday that the Opel acquisition -- due to close this year -- will create a new "European champion" ranked second to Volkswagen in the region.
PSA shareholders voted overwhelmingly to approve the issue of share warrants forming part of the payment to GM for Opel.
Valued at 670 million euros when the deal was struck, the warrants convert to shares in the French carmaker in five years at the earliest, maintaining a financial incentive for GM's continued cooperation with a PSA-owned Opel. ($1 = 0.9204 euros) (Reporting by Laurence Frost and Gilles Guillaume; Editing by David Goodman)
BA cancels flights from London's Heathrow, Gatwick after IT outage
LONDON, May 27 British Airways said it had cancelled all flights from London's Heathrow and Gatwick airports scheduled before 1700 GMT on Saturday due to a global computer outage.
British Airways suffers flight delays after global IT outage
LONDON, May 27 British Airways flights in Britain were being delayed and passengers were suffering long waits at airports on Saturday because of a global system outage, the airline said.