Wrightbus secures £50m government-backed loan to boost hydrogen bus exports June 9, 2023 Sustainable bus maker Wrightbus has today secured a £50m government-backed loan to turbocharge exports of electric and hydrogen-powered buses. The agreement will see the UK’s Export Finance (UKEF) agency guarantee 80 per cent of the loan, from Barclays bank. The firm said the backing will allow it to deliver orders to new markets including Germany [...]
Uber boss: ‘London a leader in electrification’ as new net zero measures unfurled June 8, 2023 Uber has today announced a host of new goals and features to hit net zero, including a target for all Uber Eats drivers to use zero emission vehicles by 2040. Under the new features, passengers will be able to track the emissions they have avoided when choosing zero-carbon drives, as the firm looks to expand [...]
FirstGroup beats profit forecasts on the back of strong demand June 8, 2023 FirstGroup saw group adjusted profit more than double this morning to £82.1m in its full year results, ahead of expectations, as increased passenger demand helped the train operator resist the impacts of industrial action. FirstGroup, who ran Transpennine Express, said its adjusted operating profit for the year ending in March came in at £161m, up [...]
Jet fuel costs keep Wizz Air loss making – but optimism for the year ahead June 8, 2023 Wizz Air saw its operating losses remain flat at €466.8m (£401.6m) in its full year results this morning, as last year’s soaring jet fuel costs pummelled the budget carrier. Total net losses were at €535.1m (£460.4m). Despite this, Wizz Air was confident about swinging to a profit later in the year, and saw a record [...]
Heathrow: Strike chaos to hit almost every weekend through summer holidays June 7, 2023 Heathrow Airport will be hit by 31 days of strike action this summer, beginning 24 June, as 2,000 security officers walk-out in a dispute over pay. Nearly every weekend between June-August will be hit by the strikes, which will see more than 2,000 security staff walk out. The strikes will take place on 24-25 and [...]
EV transition could be fast-tracked by more than a decade if people buy second hand, says report June 7, 2023 The UK’s EV transition could be fast-tracked by over a decade if the country makes more use of the second-hand electric vehicle (EV) market, a new report shows. Research from the Green Finance Institute found that accessing the used EV market could boost uptake in the UK by as much as 17m, should barriers including [...]
Britain’s nascent EV sector hopes for a boost from Sunak and Biden talks June 6, 2023 The UK’s electric vehicle sector is hoping for some good news from the two-day meeting between Prime Minister Rishi Sunak and US President Joe Biden, who are set to announce closer economic ties between the two nations this week. Biden is expected to offer new trading arrangements to help the UK’s struggling EV division compete [...]
Space sector defiant as figures show £7bn boost to UK economy June 6, 2023 The UK’s space sector contributed £7bn to the UK economy last year, new data has revealed. Kevin Craven, chief executive of aerospace and defence trade organisation ADS Group, which published the data, said that the UK continues to be a “world leader” in space, but that “innovation and expertise must be fully utilised and leveraged to [...]
Airlines face quadruple costs for jet-fuel alternatives, new report warns June 6, 2023 The cost of sustainable aviation fuels (SAF) will remain up to four times higher than jet fuel until 2050, according to new analysis from Bain and Co, feeding concerns over the affordability of a key component of airlines’ current net zero strategy. Consulting firm Bain and Co’s new report found that SAF prices in 2050 [...]
British Airways and Boots hit by cyber attack with UK staff bank details stolen June 5, 2023 British Airways and retailer Boots said their staff were amongst those hit by a cyber attack on Zellis, a payroll provider used by hundreds of companies in the UK. British Airways, owned by IAG said it had notified affected employees and was providing them with support. “We have been informed that we are one of [...]