Ryanair: O’Leary’s contract extended until 2028 as £86m bonus still on cards December 8, 2022 Ryanair’s boss Michael O’Leary has seen his contract extended until July 2028, in a deal that could make him earn up an extra €100m (£86.3m). Chairman Stan McCarthy said the contract extension was reached following “extensive engagement with large shareholders and proxy advisors,” but will still be subjected to shareholder approval. As part of his [...]
On the Beach’s boss to step down as group returns to black for first time December 8, 2022 On the Beach’s boss Simon Cooper is set to step down just as the group returns to profit for the first time since the pandemic hit. Cooper, who founded the beach holiday retailer in 2004, will leave within the next year and will be replaced by the firm’s current chief financial officer Shaun Morton. The [...]
Building gains: Balfour Beatty lifts end-of-year outlook after profit and revenue boost December 8, 2022 Shares for UK-based infrastructure giant Balfour Beatty were up 2.2 per cent following a boost in expectations for revenue and profit. The construction company said it was five per cent ahead of 2021’s £16.1bn in terms of its order book, as it raised expectations for its full year report. Balfour Beatty also raised prospects for [...]
RMT accuses government of torpedoing rail negotiations December 7, 2022 The union RMT has accused the UK Government of torpedoing negotiations, pushing a resolution of the rail dispute “further away.” Union bosses claimed today the Rail Delivery Group – which is negotiating on behalf of train operators – was instructed by the government to take on the strikes. “It is now absolutely clear that the [...]
Airlines call on EU to include polluting flights in CO2 pricing scheme December 7, 2022 Airlines have called on the EU Commission to include long-haul and more polluting flights into its environmental regulation. The comments come on the heels of the Commission announcing that EU airlines will pay more for their CO2 emissions. “Yet again the Commission led by Ursula von der Leyen has abandoned the environment and Europe’s ordinary [...]
Christmas strikes: Border Force to walk out for eight days December 7, 2022 Border Force staff working at several UK airports will strike over the Christmas period in a long-standing dispute over jobs and pay. Members of the union PCS will walk out between 23 and 26 as well as 28 and 31 December at several UK airports, including Heathrow and Gatwick. According to aviation analytics firm Cirium, [...]
Green aviation fuel production to increase 200 per cent by year-end December 7, 2022 The production of sustainable aviation fuels is set to increase 200 per cent by the end of the year. Estimates from the International Air Transport Association (IATA) forecast that green aviation fuel production could reach between 300 and 450 million litres. This is up from the 100 million litres produced last year. A byproduct of [...]
Transport secretary: Minimum service level laws not happening anytime soon December 7, 2022 The government’s legislation on guaranteeing minimum service levels during strike days will not be debated anytime soon, according to transport secretary Mark Harper. Introduced in Parliament following this summer’s rail strikes, the bill’s second reading hasn’t happened yet and can’t be expedited due to a perceived lack of cross-party consensus. The secretary also said the [...]
easyJet avoids French Christmas strike with eleventh-hour pay increase December 7, 2022 easyJet has prevented a strike in France over Christmas after offering a pay increase to cabin crew staff at the eleventh hour. The low-cost carrier has put on the table a 7.5 per cent salary increase in addition to a €3,000 bonus (£2,600), which was accepted by the French union SNPNC. “easyJet is pleased to [...]
Tube trips in shopping hotspots hit one million as people fall for Christmas frenzy December 7, 2022 Trips on the tube to key shopping centres have reached pre-pandemic levels, as the Elizabeth Line and Christmas rush boosts retail. More than one million entries and exits were recorded on 3 December at stations such as Oxford Circus, Knightsbridge and High Street Kensington, figures published today by Transport for London (TfL) showed. Tottenham Court [...]