Heathrow: Airline chiefs call for John Holland-Kaye’s resignation October 16, 2022 Airline chiefs have called for John Holland-Kaye’s resignation as Heathrow’s chief executive after the west London hub said last week it could introduce measures to manage capacity during the peak Christmas period. “That’s inexcusable. Anybody who says anything like that is the wrong guy for the job,” Emirates’ boss Sir Tim Clark told the Sunday [...]
BMW goes east moving electric Mini production from UK to China October 16, 2022 BMW has decided to move its electric Mini production from the UK to China, in what can be seen as a blow to Britain’s ambitions to become a global EV maker. According to Stefanie Wurst – who’s been at the brand’s helm since February – Mini production was moved away from its historic home in [...]
HS2: ‘Very unlikely’ to meet budget for first phase October 16, 2022 The total cost of HS2’s London-Birmingham section is set to exceed the government’s budget by several billions, according to a leaked report. A research presented to the HS2 board by Sir Jon Thompson, the project’s deputy chair, said it was “very unlikely” the £40.3bn target would be met. The document concluded that the government’s contingency [...]
Ryanair chief forecasts price increase after ‘surprisingly strong’ bookings October 13, 2022 Ryanair is predicting an increase in prices following “surprisingly strong” bookings, according to chief executive Michael O’Leary. O’Leary said that – despite recent forecasts of 3-4 per cent growth – air fares “will rise by a mid to high single digit figure for the full year” unless alarming reports on Covid and Ukraine come out. [...]
Crash landing in sea: British space firm’s Iceland rocket launch ends in failure October 13, 2022 A British space company’s attempted rocket launch off the coast of Iceland ended in failure, with the projectile travelling just 500 metres before crashing into the sea. Rival to Elon Musk’s SpaceX firm, Skyrora held an unannounced launch of its Suborbital Skylark L rocket today, ahead of a full UK launch from next year. The [...]
Trevelyan commits to deliver reforms post P&O scandal October 13, 2022 Transport secretary Anne-Marie Trevelyan has committed to deliver reforms that will prevent scandals such as P&O from happening again. “I look forward to continuing to extend the work that my predecessor set running to build that relationship, to improve the workplace environment for our seafarers and to ensure that terrible decisions taken by P&O cannot [...]
BA owner IAG expects £1bn profit due to strong summer October 13, 2022 British Airways’ owner IAG expects its pre-exceptional operating profit for the third quarter to be around €1.2bn (£1bn) after better than expected trading. The airline consortium said strong passenger revenue drove profits while forward bookings remained at expected levels, showing no signs of slowing down. Shares went up as high as 10 per cent following [...]
Winds of change blow over TfL in management revamp October 13, 2022 Winds of change are blowing over TfL as the public body announced the appointment of two new members of its management team. Current Crossrail chief finance officer Rachel McLean will take over as managing CFO at the end of October while financial director Patrick Hoig will remain as statutory chief finance officer. TfL’s director of management [...]
Easyjet to post loss for third consecutive year despite strong summer October 13, 2022 Easyjet is expected to post a loss for the third consecutive year, despite increasing earnings over the busy summer quarter. The low-cost carrier said that, for the year ended 30 September, losses are expected to be in the £170m-£190m range as a result of travel disruption experienced over the last few months. In a trading [...]
EasyJet expects to book £545m in the final quarter with ‘record bounce back’ October 13, 2022 Bosses at EasyJet are expecting to book between £525m and £545m in earnings for final quarter, as the budget airline continues its post-lockdown recovery. The earnings before interest and tax, marks a “record bounce back” for the carrier, CEO Johan Lundgren said in a statement this morning. It means the company will breakeven this year. [...]