Cazoo remains ‘laser focused’ on long-term objectives despite macroeconomic headwinds, says boss May 3, 2022 Cazoo remains “laser focused” on long-term strategy despite ongoing macroeconomic headwinds, its chief executive Alex Chesterman said today. The online car retailer announced that quarterly revenues soared 159 per cent, less than a month after the online car retailer posted profits worth £25m for the year ended 31 December. In the first three months of [...]
Airlines UK boss Tim Alderslade warns aviation’s recruitment problems are here to stay May 3, 2022 The aviation sector’s ongoing difficulties to recruit more staff are here to stay, according to Airlines UK’s chief executive Tim Alderslade. “There’s a huge number of challenges [to overcome in the industry] and labour will be a real issue moving forward, and not just in the short term,” he said today while speaking at Advantage Travel [...]
Honest mistake: Passenger mocks TfL for Elizabeth line labelling mishap May 3, 2022 Transport for London (TfL) was recently mocked by a passenger for making a “mistake” in the labelling of the Elizabeth Line. Daniel Tomlinson, senior economist at think tank the Resolution Foundation, took it to Twitter on 29 April to report that a poster on the Central line was showing the word “line” next to Elizabeth. [...]
Come fly with me: Wizz Air flew 3.62m passengers last month as holidays rocket May 3, 2022 Wizz Air said it has carried a staggering 3.62 million passengers in April, 542 per cent up on April 2021. For the week ending 2 May, Wizz Air reported an average of 722 flights per day, ranking seventh in Europe’s top 10 aircraft operators. The low-cost carrier beat legacy airlines such as British Airways (BA), [...]
Brits opt for last-minute holidays following post-Covid uncertainty May 2, 2022 Brits are booking their holidays later to avoid travel disruption, according to a report published yesterday. Data from Advantage, the UK’s largest consortium of travel agents, showed that 40 per cent of bookings are for the next 12 weeks, with reservations for May half-term holidays down by 5 per cent on 2019 levels. Before Covid, [...]
Fast fashion slammed over cargo plane emissions May 2, 2022 Fast fashion critics have called for more industry regulation after Shein and other retailers have been using planes to deliver their products, often at great environmental cost. According to the data from the CarbonCare emission calculator, a cargo plane used by Shein carries 100 tonnes of cargo, producing around 443 tonnes of CO2 to go [...]
UK audit chief in the running for HS2 top job May 2, 2022 The head of the UK’s accounting watchdog is reportedly in the running to lead the High Speed 2 rail construction project, raising further questions about the future of the country’s audit regime. Sir John Thompson, chief executive of the Financial Reporting Council (FRC), is in the frame for becoming the new chair of the project, [...]
Lloyd’s of London prepares to fight over picking the tab up for $10bn Russian-seized planes May 2, 2022 Lloyd’s of London and aircraft lessors are reportedly going to war over who needs to pick up the tab after more than 400 foreign-leased planes were seized by Moscow following the invasion of Ukraine. Sources told the Telegraph Lloyd’s of London has hired global law firm Clyde & Co to investigate whether insurance claims made [...]
Porsche and Audi to enter Formula 1 in 2026, confirms Volkswagen chief Diess May 2, 2022 Porsche and Audi are working on plans to enter Formula 1, says Herbert Diess, chief executive of their parent company Volkswagen. He said the decision was based on the growth in popularity of F1 in recent years, particularly in the US and among younger audiences. Confirming that Porsche and Audi would enter the series in [...]
Passport delays could cost £1.1bn in cancelled summer trips May 2, 2022 Delays in the processing of UK passports could cost £1.1bn in cancelled summer trips, according to a research published today. Data from the Centre for Economics and Business Research (Cebr) has forecast a 50 per cent probability of timely renewals, with around one million holiday goers facing cancellations. “Assuming that passport holders are somewhat more [...]