Thomas Cook relaunches as online-only firm September 16, 2020 Iconic holiday firm Thomas Cook will today relaunch as an online-only company, a year after going bust in dramatic circumstances. To start with, the new travel company will sell holidays to destinations that are on the government’s safe travel list. In November, Chinese firm Fosun, which also owns package holiday brand Club Med, acquired the [...]
Silvertown Tunnel to cost £2bn over next 30 years September 16, 2020 A controversial tunnel which will connect Greenwich with London’s Docklands will cost Transport for London (TfL) almost £2bn over the next three decades. Although the actual construction of the Silvertown Tunnel remains at £1bn, figures from the capital’s transport operator show that the overall cost for building, maintaining and operating the tunnel will be £65m [...]
British Airways boss: We are still ‘battling for survival’ September 16, 2020 The chief executive of British Airways has said that the airline is still “battling for its own survival” as travel disruption due to the coronavirus pandemic drags on. Speaking to the Transport Select Committee this morning, Alex Cruz said that the carrier was burning through £20m a day because of the downturn. However, he did [...]
Galliford Try shares jump as it predicts return to profitability next year September 16, 2020 Shares in Galliford Try jumped even after it reported losses for the second year in a row, as it predicted a return to profitability by 2021. The construction firm was trading 11.3 per cent higher by 9.25am. The figures Galliford Try reported pre-exceptional revenue was down from £1.4bn to £1.1bn,while losses widened to £62.4m. Building [...]
Uber touts safety updates in second day of London court battle September 15, 2020 Uber has told a London court that it has addressed Transport for London’s concerns over the safety of its passengers through a number of changes to its platform and policies. TfL refused to grant Uber an extension on its licence to operate in London at the end of last year, following what it called a [...]
Cruise ship operator Carnival posts $3bn loss amid coronavirus pandemic September 15, 2020 Cruise ship operator Carnival said it will post a $2.9bn loss in the third quarter due to the impact of the coronavirus crisis on the travel industry. The loss includes a non-cash impairment charge of £0.9bn, the company said. Carnival, which has already raised billions in debt, also announced today that it was planning to [...]
Former Nissan executive pleads not guilty to conspiring with Ghosn September 15, 2020 Former Nissan executive Greg Kelly has denied charges he conspired with former boss Carlos Ghosn to hide income in his first hearing at the Tokyo District Court. Kelly, who has been on bail in Japan since his release from jail in 2018, said: “I deny the allegations that have been made by prosecutors. I was [...]
G4S rejects Gardaworld’s £3bn hostile takeover bid September 14, 2020 G4S has rejected a £3bn hostile takeover bid from private-equity backed Gardaworld claiming it “significantly undervalues” the company. Shares in the security firm surged more than 24 per cent on reports that Gardaworld had offered to pay 190p a share in cash in August. Gardaworld said it had made three attempts to engage with G4S’s [...]
London City Airport cuts 239 jobs as pandemic hits passenger numbers September 14, 2020 London City Airport has announced it will cut up to 239 roles due to low passenger numbers during the coronavirus pandemic. The airport said today that it has launched a consultation with staff over voluntary redundancies as it seeks to reduce costs. London City Airport suspended commercial flights in March due to the sharp drop [...]
Uber’s second London legal challenge gets underway September 14, 2020 Today Uber will appear in a Westminster court for a second time, appealing a previous ruling which banned it from operating in London over safety concerns. Transport for London (TfL) stripped Uber of its licence again last year, alleging a failure to protect its customers when using the service. Uber has been allowed to continue [...]