Brexit: No deal could ground UK-EU flights, Grant Shapps admits October 15, 2020 The transport secretary has admitted that a no-deal Brexit could lead to flights between the UK and EU grounded from the beginning of next year. Speaking at travel trade body ABTA’s virtual conference, Grant Shapps admitted that with just 78 days to go before the end of the transition period, the two sides were still [...]
Ryanair makes further winter capacity cuts as it shuts three bases October 15, 2020 Ryanair (RYA) has cut its winter capacity from 60 per cent to 40 per cent of last year’s levels as it contends with further flight restrictions across Europe. The budget airline said air travel to and from much of central Europe, the UK, Ireland, Austria, Belgium and Portugal had been “heavily curtailed” due to the [...]
Mayfair hedge fund takes £140m stake in British Airways owner October 15, 2020 One of the UK’s largest hedge funds has taken out a large position in embattled British Airways owner IAG amid the worst crisis in aviation history. £35bn Marshall Wace today disclosed a three per cent stake in the airlines group, making it one of IAG’s largest stockholders. The Mayfair-based fund has previously taken out short [...]
HS2 costs rise £800m just weeks after construction starts October 14, 2020 The cost of controversial rail link HS2 has risen another £800m, the government has admitted, just six months after the project was newly approved. Ministers said that the extra costs were related to removing more asbestos than had been expected, as well as on developing the terminus at Euston station. The increases were revealed in [...]
Tube journeys hit highest number since lockdown October 14, 2020 There were more journeys made on the Tube last week than at any point since the beginning of lockdown in March, despite the imminent prospect of new restrictions being imposed on the capital. According to data from Transport for London, there were 1.56m such journeys made last Friday, beating the previous high of 1.52m. That [...]
Galliford Try wins place on £600m Thames Water programme October 14, 2020 Construction firm Galliford Try has won a place on two new lots on Thames Water’s new infrastructure improvement framework. The company’s environment business will work on the two projects, which could bring in as much as £240m over the next four years. The total pipeline of the project is valued at £590m, with Galliford Try [...]
Travel industry calls for ‘decisive’ action on airport testing October 14, 2020 The UK travel industry has urged the government to “act decisively” in putting in place airport coronavirus testing in order to save the £60bn industry. Trade body ABTA also called for ministers to provide targeted support for travel companies, many of which have been without any revenue this year. New figures from the association showed [...]
G4S profits swell due to tight cost control during coronavirus pandemic October 14, 2020 Security firm G4S said this morning that profit for the first nine months of the year was ahead of 2019 levels despite a dip in revenue as it clamped down on costs during the coronavirus pandemic. The group’s revenue fell two per cent, which was “more than offset by tight direct and indirect cost control [...]
Exclusive: TfL set for crunch talks as London bosses call on Sunak to solve cash crisis October 14, 2020 Exclusive: TfL set for crunch talks to solve cash crisis as London bosses call on Sunak to step-up to save services
WTO tells EU it can slap $4bn of tariffs on US over Boeing subsidies October 13, 2020 The EU has been given the go-ahead to slap tariffs on $4bn (£3.1bn) of US goods in the latest development in the subsidy saga involving Boeing and Airbus. It comes after the World Trade Organization (WTO) last year allowed Washington to tariff $7.5bn of EU goods over state support for European aeroplane manufacturer Airbus. The [...]