Virgin Atlantic creditors back crunch £1.2bn bailout deal August 25, 2020 An overwhelming majority of Virgin Atlantic’s creditors have this afternoon approved the embattled airline’s £1.2bn bailout package, a critical step in ensuring the carrier’s survival. In a statement, the carrier said that all four of its creditor classes had voted in favour of the proposal. The vote marks a huge step forward in Virgin’s bid [...]
AIM-listed Infrastrata swoops for historic Devon shipyard August 25, 2020 An historic shipyard in Devon is set to reopen after it was bought by AIM-listed Infrastrata in a deal worth £7m, in a rare boost for the UK’s manufacturing sector. Appledore shipyard, situated on the River Torridge near Bideford, shut last year when defence giant Babcock decided that the site had no future. However, the [...]
American Airlines to cut 19,000 jobs unless extra aid released August 25, 2020 American Airlines has warned that it will be forced to cut 19,000 jobs in October unless the US government provides the carrier with further financial assistance. In total, around 40,000 jobs – 30 per cent of the the airline’s workforce – will be lost, including voluntary redundancies and other departures. Back in March, US airlines [...]
Carnival-owned Cunard suspends all cruises until March next year August 25, 2020 Carnival-owned cruise operator Cunard has cancelled all of its sailings until March 2021 at the earliest due to continuing concerns over the coronavirus pandemic. In a statement, the luxury cruise ship line said that it was extending its suspension of all sailings from November this year until the spring, a year after first suspending its [...]
Thames Tideway ‘super sewer’ won’t open until 2025 due to coronavirus August 25, 2020 The construction of the Thames Tideway “super sewer” is now expected to cost £233m more as a result of coronavirus, with the mega-project now not expected to be completed until 2025. As a result of the increased cost, Thames Water customers may face slightly higher water bills, the Telegraph first reported. At the moment, customers [...]
Southeastern to introduce colour-coded system to help commuters avoid busy trains August 25, 2020 Train franchise Southeastern will from next week tell passengers how busy their train is before they board to help them better observe social distancing rules. The operator, which runs rail services into London and the south-east, will become the first franchise to share such data directly with commuters in a bid to increase confidence that [...]
Wizz Air plots Gatwick growth despite Covid-19 quarantine rollercoaster August 25, 2020 The boss of Wizz Air remains committed to more flights from London's Gatwick airport
Virgin Atlantic unveils coronavirus insurance package on eve of crunch bailout vote August 24, 2020 Virgin Atlantic has today unveiled a comprehensive new coronavirus insurance package for all new and existing bookings up until the end of March next year. The new offer was revealed on the eve of a crunch High Court vote on a £1.2bn bailout package that could keep the carrier flying if it is approved. The [...]
Balfour Beatty joint venture secures £1.3bn Hong Kong airport deal August 24, 2020 Construction firm Balfour Beatty this morning announced that its south-east Asia joint venture has won a HK$12.9bn (£1.27bn) contract to expand Hong Kong International Airport’s Terminal 2. Under the four-year deal, Gammon, of which the FTSE 250 company owns 50 per cent, will increase the size of the main terminal building and construct the surrounding [...]
Travel industry ‘desperately’ calls for help as jobs crisis looms August 24, 2020 The UK travel industry “desperately” needs more government help, with 39,000 jobs already lost or at risk due to the coronavirus pandemic, trade body ABTA has warned. The Association of British Travel Agents (ABTA) said that without “tailored support” 83 per cent of firms will be at “critical or serious” risk. Travel has been one [...]