Icelandair remains ‘cautiously optimistic’ about next year as it plans moderate growth October 27, 2022 Icelandic legacy carrier Icelandair remains “cautiously optimistic” about the next year, as it plans some moderate growth despite the current inflationary headwinds. “We are in a very good position,” chief executive Bogi Nils Bogason told City A.M. today. “We can be more flexible and focused depending on how our economies are developing. “[However] people are [...]
Clear skies ahead for Lufthansa, as carrier expects strong demand to stay October 27, 2022 Lufthansa anticipates demand to remain strong in the months ahead, with capacity expected at 80 per cent of pre-Covid levels in the fourth quarter despite inflationary pressures. According to chief executive Carsten Spohr, people will continue to splash cash on tickets after two years of not being allowed to travel due to the Covid pandemic. [...]
Boom in UK retail drives Cazoo’s revenue up 103 per cent to £347m October 27, 2022 A boom in the UK retail market has driven Cazoo’s quarterly revenue to £347m, 103 per cent up on last year’s levels. In the three months ended 30 September, UK retail unit sales went up 100 per cent to 18,889 vehicles sold despite inflationary pressures biting into consumers’ spending. “This very strong performance shows that [...]
MPs call on Jeremy Hunt to introduce duty-free shopping at UK terminals October 27, 2022 MPs have called on the Chancellor to introduce duty-free shopping for arriving passengers at UK terminals. The All-Party Parliamentary Group for the Future of Aviation wrote yesterday to Jeremy Hunt asking him to introduce VAT-free shopping at British airports, international rail and ferry terminals “to help our sector flourish and recover” from the impact of [...]
New Piccadilly line and DLR trains are next big thing for TfL October 27, 2022 TfL’s interim commissioner Andy Lord has announced that new trains on the Piccadilly line and DLR are the network’s next big project. The commissioner stepped in on Tuesday following Andy Byford’s departure after two years at the public body’s helm. Lord told the Evening Standard TfL needs to move forward with the tube network’s modernisation, [...]
Car industry calls on UK to deliver regulation on self-driving cars by 2025 October 26, 2022 Automotive industry leaders have called for the UK Government to deliver its regulatory framework on self-driving cars by 2025. David Wong, senior technology and innovation manager at the Society of Motor Manufacturers and Traders (SMMT), said today it would be extremely disappointing not having primary legislation this parliamentary session. “It’s very important that the government [...]
DX shareholder moves to oust chair over botched inquiry October 26, 2022 A major shareholder in London-listed logistics company DX Group called for its chair to be ousted today as it accused him of having “severely harmed investor perceptions” in the firm.
Not enough: Gov ramps up EV charger rollout amid calls for more action October 26, 2022 The UK Government has continued to ramp up the rollout of public electric vehicle (EV) chargers over recent months. According to data published today by the DfT, as of 1 October 34,637 public EV chargers were installed in the UK – 34 per cent up on last year’s levels. This is also 8 per cent [...]
Mercedes to exit Russian market after manufacturing suspension October 26, 2022 Mercedes is set to exit the Russian market once and for all after it suspended manufacturing in March as a result of Moscow’s invasion of Ukraine. The car maker said today that, even though it will sell its shares to Russian car dealership Avtodom, the transaction will not impact the group’s financial position or its [...]
Boeing shrinks loss in plane business but takes £2.4bn hit from defence unit October 26, 2022 Despite shrinking its losses in the commercial plane business by around 7 per cent to $643m (£556.8m), Boeing was hit by a $2.8bn (£2.4bn) loss from its defence unit. The commercial plane business’ revenue went up to $6.3bn driven by the resumption of 787 and 737 deliveries, as Boeing shipped 112 planes in the three [...]