Transport for London facing £2bn a year funding gap, warns report January 15, 2021 Transport for London (TfL) is facing a funding gap of up to £2bn every year as a result of Covid-19, a new report has found. The pandemic has forced passengers off London’s transport network in record numbers, causing its finances to crumble. The operator has already received two bailout deals with a combined worth of [...]
AA shareholders approve £218m takeover by private equity firms January 14, 2021 The AA shareholders today approved the takeover deal
Middle-aged Brits look ahead to post-Covid holidays after over-50s get vaccine, says Tui January 14, 2021 FTSE-listed travel giant Tui said it has seen a jump in holiday bookings from those aged over 50 in the UK, which it hasn't seen since the Covid-19 pandemic struck
Virgin Atlantic part-owner Delta posts $12bn loss for 2020 — and is still burning $12m in cash a day January 14, 2021 Delta Airlines, which owns a 49 per cent stake in Virgin Atlantic, has posted an eye-watering $12bn (£8.77bn) loss for 2020.
Norwegian Air scraps long-haul flights, ditches Gatwick base and cuts 2,000 staff in bid for survival January 14, 2021 Norwegian Air scraps long-haul flights, ditches Gatwick base and cuts 2,000 staff
Britishvolt: The batterymaker leading the charge towards the 2030 diesel car ban January 14, 2021 2020 was a dire year for the UK car industry, but buried amid the reports of tumbling vehicle sales was one piece of promising news. For the first time ever, sales of electric vehicles comprised 10 per cent of all new car sales, figures from auto body the Society for Motor Manufacturers and Traders (SMMT) [...]
Wizz Air launches €500m debut bond January 14, 2021 Wizz Air today said that it had sold €500m in three-year bonds at an interest rate of 1.35 per cent. The budget carrier said that the bonds, which are due in 2024, are part of plans to raise €3bn from its euro medium-term note programme. The Hungarian flier said that proceeds from the sale would [...]
New Covid travel testing rules delayed until Monday January 14, 2021 Pre-departure testing will now come into force on Monday, three days later than initially planned. Transport secretary Grant Shapps tweeted the last minute change of plan was to give international travellers time to prepare. Shapps also reminded travellers to complete a Passenger Locator Form before travelling. The form helps to contact travellers if they have [...]
Train services cut by a quarter during national lockdown January 14, 2021 UK train services will be cut down to below three-quarters of normal levels amid a sharp decline in passenger numbers during the third national lockdown. Brits have been urged to check before they travel as some services will be cancelled and others will change times while tougher restrictions are in place. The fresh cuts mean [...]
Square Mile sees four times as many commuters than during first lockdown January 13, 2021 There were four times as many trips made on public transport in the City of London last week than during the spring’s first lockdown, Transport for London (TfL) data shows. Last week there were around 80,000 entrances and exits from Tube stations in the capital’s financial district, which equates to 40,000 journeys. By contrast, back [...]