Airbus profits up but crisis ‘not yet over’ for planemaker April 29, 2021 Planemaker Airbus saw its earnings rise in the first quarter but warned that the crisis engulfing aviation due to the pandemic “was not yet over”. The world’s largest commercial jetmaker said adjusted operating profit rose 147 per cent to €694m (£603m) led by its commercial jet and helicopter activities, as revenue slipped 2 per cent [...]
Car production rise for first time since 2019 after Covid collapse April 29, 2021 UK car production rose dramatically in March, a year after the coronavirus pandemic forced factories across the country to shut. Output rose 46.6 per cent against 12 months ago, with a total of 115,498 cars built, up from 78,767 in March 2020, new data from auto trade body the SMMT showed. However, the figure is [...]
Driverless cars set for UK roads by the end of the year April 28, 2021 Britain’s roads could see their first driverless cars by the end of the year after the Department for Transport gave an autonomous driving system the green light today. Officials said that the technology could improve road safety by reducing human error, which contributes to over 85 per cent of accidents. In a statement this morning, [...]
Lotus to invest £2bn in switch to electric and revamp of UK plant April 28, 2021 Sports car maker Lotus will build electric vehicles in the UK as part of a £2bn investment push aimed at massively increasing its production capacity. The Hethel-based firm yesterday announced that it would switch to selling only electric cars by 2028. Its last combustion engine car, the Emira, will launch this summer. As part of [...]
Vaccine passports: Key to normalisation but many obstacles remain April 27, 2021 Following the UK’s roadmap for the lifting of restrictions, those living in England could be allowed to embark on a foreign holiday as early as 17 May. Europe plans to launch a digital health pass scheme in June to save this summer’s holiday season from the pandemic, but technical and political obstacles are showing just [...]
Space race: Elon Musk and Jeff Bezos go head to head April 27, 2021 The space race between the world’s two richest men catapulted into hyperdrive today.
Heathrow bid to raise £2.6bn through higher passenger charges blocked April 27, 2021 The UK’s aviation regulator has today ruled that Heathrow’s bid to raise passenger charges to repair the damage of the coronavirus pandemic was “not in the interest of consumers”. The airport had asked the Civil Aviation Authority (CAA) to increase its regulatory asset base to £2.6bn in order to recover its losses. But the watchdog [...]
Jet2 on course for £385m loss due to holiday cancellations April 27, 2021 Package holiday provider Jet2 said that it would make a loss of up to £385m for the full year after it cancelled all trips until 23 June due to Covid-19. The firm took the decision to scrap all holidays up to that point due to the “uncertainty” regarding the resumption of international travel. As a [...]
Elon Musk’s Tesla beats expectations on record deliveries April 26, 2021 Tesla has reported a record quarterly profit, beating Wall Street estimates after a huge rise in deliveries in the three months to March. Total revenue soared 74 per cent year-on-year to $10.39bn in the first quarter, generating a $438m net profit. Tesla said this was primarily achieved through “substantial growth” in vehicle deliveries. The auto [...]
Airline shares jump on hopes of Europe-US travel by the summer April 26, 2021 Airline shares jumped today on the back of hopes that travel between the EU and US would open up again this summer. Over the weekend, European Commission President Ursula von der Leyen said that all US citizens who had been vaccinated should be able to travel to Europe by the summer. Her comments sent shares [...]