British Airways owner IAG calls for airport testing as losses widen October 30, 2020 British Airways owner International Airlines Group (IAG) fell to a €5.56bn loss in the first nine months of the year as it warned passenger demand could take three-years to recover to pre-pandemic levels. The company this morning announced it had plunged to a loss after tax and exceptional items of more than €5bn this year [...]
Could Germany have its quarantine free travel corridor revoked today? October 29, 2020 Germany looks likely to be taken off the UK’s quarantine-free travel corridor list this afternoon after its rate of coronavirus infection doubled in the last week. The surge in cases meant that Chancellor Angela Merkel yesterday announced that Europe’s biggest economy would enter a four-week lockdown from 2 November. As a result, bars, restaurants, and [...]
United Airlines opens door to London-New York travel with free Covid testing October 29, 2020 US carrier United Airlines has today announced the world’s first free transatlantic coronavirus testing trial in a glimmer of hope for the travel industry. Under the scheme, the airline will offer every passenger over the age of two on flights between Newark and London Heathrow a test for the disease. The trial will run between [...]
Exclusive: Transport for London aware of Croydon tram fatigue problem two years before deadly crash October 29, 2020 Transport for London (TfL) officials were told of concerns about driver fatigue on the Croydon tram network two years before a fatal crash which killed seven people – believed to have been caused by a driver falling asleep. An independent audit of the Croydon Tramlink carried out in March 2014 and seen by City A.M. [...]
Shaun Bailey accuses Sadiq Khan of wasting nearly £10bn of TfL cash October 29, 2020 Conservative London mayoral candidate Shaun Bailey has today accused Mayor Sadiq Khan of wasting nearly £9.6bn in Transport for London (TfL) finances since 2016. According to Bailey, the failure to deliver the Crossrail rail link on time has cost £5.2bn, while pensions have drained £828m from TfL’s finances over the period. A freeze of Tube [...]
Boeing to slash 7,000 more jobs after fourth straight quarter of losses October 28, 2020 Planemaking giant Boeing will reportedly slash 7,000 more jobs as the firm reported its fourth straight quarter of losses. As a result, by the end of the year the US company will have shed 30,000 jobs – 20 per cent of its 160,000-strong workforce. Boeing fell to a $466m loss for the third quarter, meaning [...]
Rolls-Royce shares halve after £2bn rights issue approved October 28, 2020 Rolls-Royce’s stock halved today after the the engine-maker’s shareholders voted in favour of a £2bn rights issue. After the morning’s trading, the blue chip’s stock was trading at 94.85p, down 56.7 per cent for the day. It’s the lowest the shares have traded at in over 15 years, and means that the stock has shed [...]
DEBATE: Is Sadiq Khan right to refuse to expand London’s congestion charge zone? October 28, 2020 Is Sadiq Khan right to refuse to expand London’s congestion charge zone? JOIN THE DEBATE Wes Streeting, Labour MP for Ilford North, says YES When Boris Johnson was mayor of London he promised Londoners: “I am not going to be having any more congestion charges”. Yet now, his government is trying to force exactly that [...]
Aston Martin capital raise subscribed after Mercedes deal boosts shares October 28, 2020 Aston Martin has said all shares available in its £125m capital raise have been placed or subscribed, as it looks to turnaround its business. The capital raise, which represents approximately 13.7 per cent of the company’s shares, comprised 250m shares at a price of 50p per share. Shares in the beleaguered carmaker jumped 6.24 per [...]
Paris overtakes Heathrow as Europe’s busiest airport October 28, 2020 Paris has overtaken Heathrow as Europe’s busiest airport following a sharp drop in passenger numbers at the London travel hub. Heathrow’s chief executive John Holland-Kaye called on the government to introduce pre-departure coronavirus tests and to create an airbridge with the US as the number of travellers using the airport continued to fall. He warned [...]