Exclusive: Go-Ahead’s buyers not afraid of bidding war with Kelsian June 14, 2022 The Australian-Spanish consortium that has made an offer of around £650m for Go-Ahead said it’s not worried about a war with the group’s other bidder, tour operator Kelsian. “Our offer presents a very strong premium,” said Michael Sewards, the chief executive of one of the consortium’s two partners, Australian bus operator Kinetic. “We think now [...]
‘What’s wrong with Britain?’ Global outrage and astonishment as first deportation flight to Rwanda is about to take off June 14, 2022 While Conservative MPs cheered in the House of Commons after it emerged that a last-ditch legal bid to block the first Rwanda deportation flight had failed, outrage and condemnation about the UK’s latest immigration plans are growing worldwide. European media respond with astonishment to the news Britain is going ahead and deport illegal immigrants to [...]
16,000 British Airways staff consulted on strike action as firm hopes to avoid ‘disappointing’ move June 14, 2022 British Airways has said possible strike action by 16,000 of its workers is “disappointing” as it seeks to avert summer travel disruption. The UK’s flagship airline is facing further chaos and delays if industrial action goes ahead, following a consultative ballot held by Unite. 97 per cent of those asked backed possible strikes over pay [...]
Go-Ahead shares fly after transport giant agrees £650m takeover by little-known Australian bus firm June 14, 2022 Shares of transport giant Go-Ahead are skyrocketing this morning after the company agreed to a £650m takeover by a consortium including an Australian bus operator. The UK-listed company, which runs London’s red buses on behalf of Transport for London, saw shares rise by almost 14 per cent to 1,540p this morning. It came after Go-Ahead [...]
First Group optimistic of returning bus passenger volumes amid takeover offer rejection June 14, 2022 Transport operator First Group has posted a £122.8m statutory operating profit from continuing operations while announcing a renewed national rail contract with the transport department for Great Western Railway. The new contract will commence when GWR’s current contractual agreement ends later this month, with a core three-year term to 2025. There will be an option [...]
Australian-Spanish consortium makes £647.7m firm bid for Go-Ahead June 13, 2022 A consortium made up by Australian bus operator Kinetic and Spanish infrastructure group firm Globalvia has announced its £647.7m firm offer for Go-Ahead. Recommended by the company’s board, the offer represents a premium of 48.5 per cent to the UK bus operator’s closing price on 25 May as well as a 77.6 per cent increase [...]
P&O and DFDS to address competition concerns following CMA investigation June 13, 2022 Ferry operators P&O and DFDS will address concerns over their capacity-sharing agreement after the Competition and Markets Authority (CMA) launched an investigation. Under the agreement signed in May 2021, cargo customers on the Dover to Calais route can board the next available ship, regardless of who operates it. After it launched an inquiry in November [...]
Heathrow calls on aviation regulator to ‘protect services’ with favourable price cap June 13, 2022 Heathrow has urged the aviation regulator to “protect services and resilience levels” by setting a price cap favourable to the airport. “The last thing passengers want is a cut price plan that leads to the cancelled holidays, stress and ‘hassle’ seen at other airports,” the hub said in an update on Monday. The airport asked [...]
Go-Ahead shares surge after bus operator receives two takeover approaches June 13, 2022 Go-Ahead has seen its stock price surge after receiving two takeover approaches, which it said it was inclined to accept. The bus operator is the latest transport firm to be courted by international investors. Fellow coach company Stagecoach was snatched by German asset manager DWS Infrastructure in May while last week public transport titan [...]
Sadiq Khan sends letters to London Tory rebels calling for TfL support June 13, 2022 Sadiq Khan has sent letters to London Tory MPs who voted against Boris Johnson in last week’s leadership vote to ask them to lobby for improved Transport for London (TfL) funding. In an attempt to drive a further wedge between Johnson and his backbenchers, Khan said the MPs should “lobby the Prime Minister and the [...]