Cruise liner firm Carnival plans $1bn stock sale to stay afloat February 23, 2021 Cruise operator Carnival today announced that it would sell $1bn (£700m) worth of its stock through a public offering. The firm said that it would place 40.5m shares at $25.10 per share, a slight discount on yesterday’s closing price of $25.97. The offering, which is being run by Goldman Sachs, closes tomorrow. Carnival said that [...]
Ban on certain Boeing 777 jets in UK airspace after fiery United engine incident February 22, 2021 Ban on certain Boeing 777 jets in UK airspace after fiery United engine incident
Air Partner takes home £11.5m from Covid-related services despite travel restrictions February 22, 2021 While most flights were grounded, aviation group Air Partner has enjoyed a profitable year, taking home £11.5m due to its ferrying of PPE throughout the pandemic. The strong profits followed the group’s buy-up of CHS Engineering (CHS) at the end of 2020, which brough new consultancy services and baggage system testing ahead of new rules [...]
British Airways boosted by £2.4bn loan and pensions deal as travel restrictions keep flights grounded February 22, 2021 British Airways boosted by £2.4bn liquidity raise as travel restrictions keep flights grounded
Online car retailer Cazoo making plans to go public – report February 19, 2021 Used car retail platform Cazoo is reportedly making plans to go public at a valuation of £5bn. Sky News reported that the start-up, which was only founded just two years ago, was mulling either a London listing or a merger with a New York-listed “blank cheque” firm, or SPAC. Boss Alex Chesterman, founder of LoveFilm [...]
Renault tumbles to €8bn loss and warns over chip shortage February 19, 2021 Renault this morning fell to a record €8bn (£6.9bn) full year loss as the coronavirus battered the car industry. And the French auto giant said that the pain could continue in 2021, with the current semiconductor chip shortage knocking production. The firm estimated that the lack of chips could cause production to fall by 100,000 [...]
Supreme Court rules Uber drivers entitled to workers rights February 19, 2021 The Supreme Court has this morning rejected Uber’s appeal against a ruling that a group of its drivers should be recognised as “workers”. Judges unanimously dismissed the appeal. After nearly five years in the courts, the decision could have profound implications for the so-called gig economy workers. Uber drivers are currently treated as self-employed, meaning [...]
Airbus predicts flat deliveries in 2021 as aerospace giant records €1.1bn loss February 18, 2021 Aerospace giant Airbus forecast that it would deliver the same amount of planes in 2021 as last year as it fell to a €1.1bn loss. As a result of the pandemic, the French firm handed over just 566 aircraft to customers – 40 per cent lower than its peak. With the pandemic forcing airlines around [...]
Airline bosses beg Boris for way out of travel restrictions February 18, 2021 The chief executives of the UK’s largest airlines have come together to call on Boris Johnson to include plans for the restart of international travel in next week’s roadmap for the easing of lockdown. Putting aside their normal rivalry, the bosses of BA, Easyjet, Virgin Atlantic, Ryanair and Tui have today written to the PM [...]
Supreme Court set for long-awaited Uber employment rights judgement February 17, 2021 On Friday the Supreme Court will hand down its judgement as to whether Uber has been successful in its appeal against a ruling recognising its drivers as workers, not independent contractors. The long-running dispute, which has been bouncing through the courts since back in 2016, could have sizeable implications for the future of the gig [...]