Wizz Air smashes passenger records as CEO predicts further summer growth August 3, 2023 Wizz Air said it carried a record 15.3 million passengers in the three months to 30 June, up 25.5 per cent on 2022, as the ultra-low cost airline swung into profit on the back of soaring demand for travel. The historic traffic figures helped the carrier report a €79m (£68m) profit, up from a €284.5m [...]
Rolls Royce: Aviation rebound sees five-fold profit jump at engine maker August 3, 2023 Rolls Royce reported a more than fivefold increase in half year profit this morning, as it cashed in on soaring demand for jet engines and defence technology.
Ferrari boosted by ultra-luxury consumers – but update falls flat with investors August 2, 2023 Ferrari upped its forecasts for the year ahead on Wednesday, as the luxury carmaker benefitted from cash-rich consumers’ ambivalence to challenging economic conditions. The luxury carmaker reported revenues of 1.47bn (£1.26bn), up 14.1 per cent year-on-year and an adjusted Ebitda of €589m (£507.2m), up 31.9 per cent. For the year ahead, it is anticipating modest [...]
HumanForest strips out the ‘human’ with Forest rebrand August 2, 2023 Popular e-bike firm HumanForest has undertaken a brand refresh, dropping the human and opting for just ‘Forest’ as it doubles the size of its dark green e-bike fleet in London. Forest said the rebrand came as the company saw bumper growth in 2023, doubling its operational zone and bike numbers in the capital amid rising [...]
Final Gatwick strikes cancelled after Unite members accept pay offer August 2, 2023 Industrial action due to take place at Gatwick this weekend has been cancelled after the last group of union workers set to strike accepted an improved pay offer. Unite members employed by Gatwick Ground Services (GGS) today accepted an improved pay offer of 10.3 per cent. As a result, disruption that was due to hit [...]
Uber chased by HMRC for extra £386m VAT August 2, 2023 HMRC is pursuing Uber for £386m extra in VAT, after paying £615m to resolve a tax dispute last year. In its results statement yesterday, Uber said that “UK tax authorities had disputed the amount and manner in which we were applying VAT to our UK business,” since the restructuring of its business model last March. [...]
Stansted first UK airport to hit pre-pandemic passenger highs as Europe jets off August 2, 2023 London Stansted has become the first major UK airport to achieve above pre-covid passenger numbers in any single month since before the pandemic, with this July the third busiest in its history. According to figures shared with City A.M. total passenger numbers for the period hit 2.81m, which is 102 per cent of the volumes [...]
Ryanair smashes monthly passenger record as Europe jets off for the summer August 2, 2023 Ryanair and Wizz Air both reported soaring passenger numbers this morning as the record breaking summer travel boom continued
War, what is it good for: BAE Systems announces bumper dividend August 2, 2023 BAE reported profits of £1.23bn this morning and upped its dividend by 11 per cent year-on-year, as it continued to cash in on increased UK defence spending and soaring demand amid the war in Ukraine. Britain’s premier defence contractor saw an order intake of £21.1bn in the first half of 2023, resulting in a record [...]
Cazoo shares spiral despite narrowed losses August 1, 2023 Shares in the struggling used-car retailer Cazoo tumbled on Tuesday, as investors failed to gain confidence in the firm’s restructuring and drive to rebound after last year’s crises. Losses improved by nearly 37 per cent year-on-year in the six months to June, narrowing from £241m to £151m – but this was not enough to stop [...]