Emirates secures $3.1bn from Dubai as it swings to pandemic loss June 15, 2021 State-owned airline Emirates has revealed the extent of the support it received from Dubai as the pandemic drove the company to its first loss in over three decades. The Dubai government has pumped $3.1bn (£2.2bn) into the airline since the start of the pandemic, including a $2bn equity injection last year. It came as Emirates’ [...]
Countries crack down on UK travellers amid Indian variant fears June 14, 2021 The Netherlands and Abu Dhabi have introduced coronavirus quarantine restrictions for UK travellers, as Italy and Ireland mull new restrictions. The Netherlands announced on Saturday that UK travellers will face mandatory quarantine measures from tomorrow. The Dutch Ministry of Health said “this is because of the worrying Delta variant of the coronavirus variant that is [...]
Stobart Air owner Esken to sell stake in Southend Airport for £120m June 14, 2021 The owner of newly collapsed Stobart Air has confirmed that it is close to agreeing the £120m sale of a 30 per cent stake in London Southend airport to private equity group Carlyle. In a statement issued this afternoon after reports that a deal was in the offing, Esken said that it was in the [...]
Electric truck maker Lordstown bosses quit, sending shares tumbling June 14, 2021 One-time electric vehicle darling Lordstown Motors swerved further off course today as the Ohio-based firm’s chief executive and finance chief quit abruptly. At the same time, an internal investigation into the carmaker reported that it had found “issues regarding the accuracy of certain statements regarding the company’s pre-orders”. The revelation, together with the departures, sent [...]
British Airways ‘could be spun out’ from owner IAG, says former airlines boss June 14, 2021 British Airways 'could be spun out' from owner IAG, says former airlines boss Willie Walsh
London North Eastern Railway tables plans for speedier trains from May 2022 June 14, 2021 London North Eastern Railway (LNER) has tabled plans for more and speedier trains towards Edinburgh, Newcastle and York from May next year. LNER is eyeing next May to bolster the East Coast main line, after the original launch planned for May this year was pushed back due to the pandemic. London King’s Cross is set [...]
High demand, low supply: The semiconductor players that dominate the hyperactive microchip space June 14, 2021 Semiconductors power much of the world’s technology, making it possible for families and friends to talk face-to-face from across the ocean or for Wall Street to move billions of pounds in the blink of an eye. And with more applications being produced worldwide, demand for semiconductor devices only continues to grow. The popularity of such [...]
Stobart Air owner pulled plug after takeover deal collapse June 14, 2021 The company behind Stobart Air, which operates Aer Lingus services, has said it decided to pull the plug on the struggling airline after a potential takeover deal fell through. London-listed Esken, formerly known as Stobart Group, said it became clear that suitor Ettyl had lost its funding and would be unable to conclude a deal. [...]
Long Ghosn: Two Americans plead guilty to helping former Nissan boss flee Japan June 14, 2021 An American father and son have pleaded guilty to helping former Nissan chairman Carlos Ghosn flee Japan by hiding him in a box on a private jet in 2019. US Army Special Forces veteran Michael Taylor and his son Peter replied no when a Tokyo judge asked them if there was anything wrong with the [...]
Aer Lingus passengers stranded after Stobart Air collapse June 13, 2021 Passengers have been left stranded and hundreds of jobs are at risk following the collapse of one of Britain’s largest regional airlines. Government officials have been forced to scramble contingency plans after Stobart Air, which operates services for Aer Lingus, British Airways and KLM, stopped trading and called in liquidators. Almost 500 jobs are thought [...]