Accounting watchdog launches probe into Deloitte’s auditing of Go-Ahead April 12, 2022 The UK’s accounting watchdog today launched an investigation into Deloitte’s audit of public transport company Go-Ahead Group, after the UK government fined the firm £23.5m for its failures in running Southeastern rail service. The Financial Reporting Council (FRC) said its investigation will focus on Deloitte’s audits of Go-Ahead’s accounts over a six-year period covering the [...]
US lessor Air Lease says 21 jets stranded in Russia April 12, 2022 US leasing company Air Lease Corp said today 21 of its jets were still stranded in Russia after the company terminated all contracts with the sanction-hit country. Air Lease did not reply when asked about how it could get its aircraft back, but it is believed it could claim insurance following the Kremlin’s decision to [...]
Moscow plots retaliation following EU blacklisting of 21 Russian airlines April 12, 2022 Moscow’s aviation regulator said it was planning countermeasures after the EU Commission banned 21 Russian airlines from operating. The Rosaviatsia said Brussels’ decision attested to a “policy of discrimination and violation of international aviation law,” which is expected to bring about “response measures” from Moscow’s side. The EU Commission announced yesterday it had added a [...]
EasyJet says vetting delays contribute to staff shortages April 12, 2022 EasyJet’s chief executive Johan Lundgren said delays in the vetting of new staff, instead of recruitment issues, were one of the contributing reasons behind the airline’s staff shortage. Lundgren told journalists this morning the airline had already recruited most of the new staff needed and was currently waiting for candidates to be approved by the [...]
EU court expands scope of flight refund policy to non-EU airlines April 12, 2022 The EU’s highest court has expanded the scope of its flight refund policy, by allowing passengers to claim refunds from non-EU airlines. The European Court of Justice ruled in favour of plaintiffs suing Chicago headquartered firm United Airlines in allowing them to claim a refund for a 223-minute delay between Brussels and San Jose, [...]
Terrible Tuesday for Rolls-Royce as shares plunge after JP Morgan downgrades firm and slashes target price April 12, 2022 Shares in engineering giant Rolls-Royce tanked this morning after bankers at JP Morgan downgraded the stock to ‘underweight’ and slashed its target price.
Brits face 12-month travel disruption following staff shortages April 12, 2022 Brits need to brace up to 12 month of travel disruption as a result of ongoing staff shortages, industry experts said. According to Kully Sandhu, Aviation Recruitment Network’s managing director, recovering from the current climate of airlines’ cancellations and airports’ disruption will take “at least the next 12 months.” Covid and the impact of Brexit [...]
EasyJet flies into £535m loss despite improved trading and ‘self-help’ measures April 12, 2022 EasyJet has announced it expects to make a loss before tax in the range of £535 million to £565 million for the six months to the end of March. The low-cost airline said this is a reduction in its losses compared with the same period 12 months earlier which is “ahead of market expectations”. It [...]
P&O Ferries restarts Scotland-Northern Ireland services as Dover remains shut April 11, 2022 Disgraced ferry operator P&O Ferries announced today it has restarted services between Scotland and Northern Ireland, following a chaotic weekend for passengers. “Some of our services have now resumed sailing. Please see the current schedule for departures from Larne and Cairnyan,” the company said in a tweet. P&O also announced services remained cancelled today in [...]
Network Rail invests £2m to clean ‘eyesore’ graffiti on railways April 11, 2022 Network Rail announced today it was investing £2m to clean “eyesore” graffiti on south-east London railway infrastructure. The company’s cleaning teams removed and painted over the graffiti, applying an anti-graffiti paint to deter people from vandalising the same areas – including Hungerford Bridge – in the future. “Everyone should feel safe when travelling on our [...]