British Airways has stated that it is investigating the theft of data of its customers from the website and mobile app "as a matter of urgency". No passport or travel details were stolen.
The breach has been "resolved" and the website is "working normally", it said.
Finally, Cruz stated, "At the moment, our number one goal is contacting those customers that made those transactions to make sure they contact their credit card bank providers so they can follow their instructions on how to manage that breach of data".
Police and authorities have already been notified as they are likely to have stolen information about the economic data of hundreds of thousands of travelers who have made an online booking in recent weeks.
The company's chairman and chief executive, Alex Cruz, said: "We are deeply sorry for the disruption that this criminal activity has caused". "We take the protection of our customers' data very seriously".
There were reports of banks being inundated with calls, leaving account holders in lengthy queues, while some BA customers said they had to have cards cancelled and reissued as a result.
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Future bookings will not be affected, BA said.
Cruz said anyone who lost out financially would be compensated by the airline.
"There was a very sophisticated, malicious criminal attack on our website".
In terms of compensation, BA said they would be in touch with customers "and will manage any claims on an individual basis". It is now vital that the company moves quickly to ensure those affected get clear information about what has happened and what steps they should take to protect themselves.
He said hackers stole enough information to use bank cards to make purchases.
British Airways experienced an IT-related crisis in May past year when roughly 75,000 passengers were stranded after the airline cancelled more than 700 flights over three days because of system problems.