Norwegian Air slammed for dishing out bonuses weeks after court-ordered restructuring June 29, 2021 Norwegian Air has been slammed by Norway’s industry minister today for dishing out bonuses to top management just weeks after emerging from court-ordered bankruptcy proceedings. The budget airline emerged from a comprehensive restructuring process at the end of May, raising around $705m for it to exit bankruptcy protection. “That shows poor judgment,” Norwegian trade and industry [...]
US-UK travel corridor talks hit roadblocks over surge in cases – report June 28, 2021 The chance of the UK and US opening an air “travel corridor” by the end of the summer is growing increasingly unlikely due to the rise in Covid-19 cases in Britain. Citing officials involved in the talks, the FT reported that negotiations between the two nations, which had started last week, were now likely to [...]
IAG and Easyjet lead fall in travel shares as Spain and Portugal introduce quarantine for unvaccinated Brits June 28, 2021 Airline stocks including BA owner IAG, Easyjet, and Ryanair all tumbled today as more European countries imposed travel restrictions on UK holidaymakers. FTSE 100 IAG was down 5.8 per cent by the mid afternoon, while budget carrier Easyjet also dropped 5.0 per cent. Fellow blue-chip Rolls-Royce, which makes the engines used by most commercial jets, [...]
Carnival to sell $500m in shares as cruises restart June 28, 2021 Cruise giant Carnival today said that it would sell $500m (£359.6m) worth of shares as it seeks to raise yet more cash amid the coronavirus pandemic. Over the last year the firm has already raised $2.5bn in order to stay afloat while sailings were cancelled due to travel restrictions. As of last week, however, Carnival [...]
Nissan puts hundreds of factory staff back on furlough after surge in Covid-19 cases June 25, 2021 Nissan furloughs hundreds of factory staff after surge in Covid cases
UK green list: Airline stocks sink as update adding Ibiza, Malta and Mallorca underwhelms June 25, 2021 UK green list updates: Malta, Madeira, Ibiza, Mallorca and Barbados added
Mal-teaser: Brits have just five days to skip quarantine in green list Malta for unvaccinated UK tourists June 25, 2021 Mal-teaser: Brits have just five days to avoid quarantine for UK arrivals in green list Malta
Virgin Galactic granted license to take customers to space June 25, 2021 Sir Richard Branson’s Virgin Galactic has today received a commercial licence to fly customers into space, the firm announced today. The US Federal Aviation Authority (FAA) has updated its existing licence to fly test missions to include commercial passengers. The decision to grant the company a full license comes after a successful test flight last [...]
Half of employed adults in the UK commuting to work again June 25, 2021 Brits are making a gradual return to the office, as around half of all UK working adults travelled to their place of work in the last two weeks, new data from the Office of National Statistics (ONS) showed today. The proportion of working adults who commuted to the office last week reached 49 per cent, [...]
Car production still stalled at just half of pre-pandemic levels June 25, 2021 The number of cars produced in the UK last month remains mired at nearly half of pre-pandemic levels as the industry grapples with shortages of key components like semi-conductors. In May, 54,962 cars rolled off production lines, a tenfold improvement on the same month in 2020, when factories were in lockdown. However, the figure is [...]