Stagecoach revenue grows by £100m in 12 months but fuel costs eat into profits December 7, 2022 Stagecoach’s revenue has jumped by nearly £100m in the past 12-months, but profits have taken a hit as fuel costs spike. The bus operator pocketed nearly £670m in the six months to the end of October, up from around £580m in the same period a year ago. However, operating and pre-tax profits have taken a [...]
Sunak convinces US to double its gas exports to UK to slow sky-high energy bills December 7, 2022 Under fresh plans to clamp down on the rising cost of living across the UK, the government has convinced the Biden administration to double US gas exports to Britain. Prime Minister Rishi Sunak pledged that the new partnership to boost energy security, efficiency and affordability will cut prices for Britons and ensure the UK’s national [...]
Airbus fails to achieve 2022 deliveries as year-end target ‘out of reach’ December 6, 2022 Airbus has failed to achieve its delivery target of ‘around 700’ commercial aircraft by the end of the year. While the initial goal was considered “out of reach”, the plane manufacturer has maintained that the new figure will not be “materially short” of previous forecasts. “Airbus remains committed to delivering its financial guidance as provided [...]
Global travel inflation easing for first time this year December 6, 2022 For the first time this year travel inflation has eased worldwide, including in Europe. According to data from business travel platform TravelPerk, inflation in the fourth quarter of 2022 went down to -8 per cent from 15 and 3 per cent in the second and third quarter respectively. Overall the price of European flights has [...]
Toyota unveils first hydrogen-powered SUV as part of net-zero strategy December 6, 2022 Toyota has unveiled the first prototype for its hydrogen-powered SUV as part of the company’s net-zero strategy. A middle-sized Corolla SUV, the prototype can accommodate up to five passengers and it’s powered by a 1.6-litre engine as well as by hydrogen fuel tanks. Hydrogen combustion engines use already existing internal combustion engines while working on [...]
December strikes: Who’s walking out when and how will it affect you? December 6, 2022 December is set to be a month blighted by industrial strife, with everyone from nurses and posties to train drivers and security staff to walk out. With inflation reaching a 41-year high at an eye-watering 11.1 per cent, thousands of workers have voted to down tools and ask for a real-term increase in pay. As [...]
Willie Walsh: Airlines to post £3.8bn profit next year December 6, 2022 Global airlines are set to return to black next year, said aviation veteran Willie Walsh. According to the International Air Transport Association (IATA), carriers are set to post a collective net profit of $4.7bn (£3.8bn) as more than 4 billion passengers will travel worldwide next year. “That is a great achievement considering the scale of [...]
Strikes: Sunak convenes cabinet as Number 10 tells RMT to reconsider pay offer December 6, 2022 Rishi Sunak has sent a fresh warning to unions ahead of upcoming Christmas strikes, with Number 10 urging transport union bosses to reconsider the current pay offer. Number 10 said National Union of Rail, Maritime and Transport Workers (RMT) boss Mick Lynch should take the current pay offer “seriously” as it is “generous and fair”. [...]
Govt will not introduce airport-specific EU visas post-Brexit, says aviation minister December 6, 2022 In a bid to strengthen its UK workforce, the government will not introduce any specific visas for EU labourers to help airports with staffing levels. Aviation minister Baroness Vere told journalists it was up to everyone working in the sector to establish a “sustainable and secure UK workforce that meets our needs, [and] that is [...]
Brits had most volatile year for fuel costs as CMA probe ‘rocket and feather’ pricing December 6, 2022 Brits have suffered the most volatile year on record for fuel prices, as the Russian invasion of Ukraine and cost of living crisis continued to pile pressure on drivers the pumps. New analysis published today show fuel prices rose by 50p a litre from January to July, which is the largest leap ever recorded. It [...]