Norwegian Air to run out of cash within months November 10, 2020 Embattled Norwegian Air this morning warned that it could run out of cash in the first quarter of 2021, unless it manages to find a fresh source of financing. Reporting its third quarter results, the low-cost carrier said: “Norwegian is dependent on additional working capital in order to continue operating through the first quarter of [...]
Winners and losers: Stocks soaring AND plummeting as Pfizer reports Covid-19 vaccine breakthrough November 9, 2020 US pharma giant Pfizer reporting today that early studies of its Covid-19 vaccine are 90 per cent effective has sent markets into a frenzy, with travel and hospitality stocks shooting up while food delivery services and video conferencing software providers plummeted. Jet engine maker Rolls-Royce saw the biggest change on the FTSE 100, surging 43 [...]
Airline stocks soar on Pfizer Covid-19 vaccine breakthrough November 9, 2020 Airline stocks soared this morning after US pharmaceuticals giant Pfizer reported that early studies suggested its Covid-19 vaccine is 90 per cent effective. Pfizer and its German partner BioNTech are the first firms to show successful data from a large-scale clinical trial of a coronavirus vaccine. The companies said they have so far found no [...]
Living up to the hype? Virgin Hyperloop uses its top executives as guinea pigs in first human tests November 9, 2020 Virgin Hyperloop uses its top executives as guinea pigs in first human tests
English airports will close without government support, AOA warns November 6, 2020 The Airport Operators Association (AOA) has written to the Prime Minister to call for urgent support to help protect airports following restrictions on international travel announced as a part of England’s second national lockdown. In a letter to Boris Johnson the trade body said airports would like to remain open throughout the lockdown, but without [...]
Bentley gently goes green: Electric-only by 2030 November 6, 2020 Luxury carmaker Bentley has committed to switching to a fully electric vehicle line by 2030 with the aim of being an “end-to-end carbon neutral organisation”. Following the introduction of the first electric model in 2024, the carmaker has said it will only offer plug-in hybrid and electric models within its 2026 range. By 2030 this [...]
European lockdowns force EasyJet to scale back capacity even further November 6, 2020 EasyJet said this morning that the new lockdowns in England, Germany and France have forced the British airline to scale back its already reduced flying schedule, and it would now fly no more than 20% of capacity until at least the end of this year. The airline, whose finances are under pressure due to the [...]
We cannot stand by and let lockdown London become a ghost town November 6, 2020 A second lockdown is upon us, and many in the business community are understably frustrated. Some, in fact, have argued that we didn’t need to end up in this position at all. I believe that it is important we do all we can to adapt to the new restrictions and support the government and NHS [...]
TfL to start ferry service at Hammersmith Bridge November 5, 2020 The Department for Transport has announced a ferry service will begin at Hammersmith Bridge just days after it hammered out a new bailout with TfL. In a statement this evening the transport department said that, as part of the London bailout, TfL has been “required to procure a ferry service for passengers across the Thames [...]
Bombardier faces SFO probe over Indonesia contracts November 5, 2020 The Serious Fraud Office has confirmed it is investigating aircraft manufacturer Bombardier over suspected bribery and corruption relating to contracts and orders from Garuda Indonesia. It comes after an Indonesian court sentenced Garuda Indonesia’s former chief executive, Emirsyah Satar, to prison in May for bribery and money laundering offences linked to the procurement of planes [...]