Qantas to axe 6,000 jobs in coronavirus cost-cutting drive June 25, 2020 Australian airline Qantas will cut around 6,000 jobs and seek to raise up to AU$1.9bn (£1.05bn) as part of a wide-ranging cost-cutting plan prompted by the coronavirus pandemic. Of the 6,000 jobs, which account for about 20 per cent of the airline’s 29,000-strong workforce, roughly half will come from a mixture of cabin crew, engineers [...]
Lufthansa shares soar as bailout vote nears June 25, 2020 Shares in German flag carrier Lufthansa jumped this morning after its largest shareholder dropped his opposition to the airline’s state bailout package. Billionaire Heinz Hermann Thiele had previously objected to the terms of the bailout, which would have seen authorities take a 20 per cent stake in the carrier. However, with shareholders preparing the vote [...]
Royal Mail to slash 2,000 jobs as profit sinks 25 per cent June 25, 2020 Royal Mail is set to make 2,000 staffredundant to save £130m to combat the impact of coronavirus after the sudden departure of its ex-CEO in May. The postal delivery service said it needed to take “immediate action” on costs after profit before tax plunged 25 per cent to £180m in the financial year to the [...]
Easyjet raises £419m through share placing to bolster finances June 25, 2020 Low-cost carrier Easyjet today announced that it had raised £419m through a share placing in order to help it withstand the coronavirus pandemic. In total, the budget airline placed 59.5m ordinary new shares – 15 per cent of the firm’s existing share capital – at a price of 703p per share. The placing price represents [...]
British Airways must follow rules when it comes to job cuts, ministers warn June 24, 2020 The transport secretary has warned British Airways (BA) that it must follow the rules when it comes to making sweeping job cuts, saying he is “very, very concerned” about the 12,000 roles set to be made redundant. BA has come under heavy fire in recent weeks over its decision to make the cuts, with many [...]
Government set to announce new hydrogen bus town trial June 24, 2020 The government is set to announce plans for the UK’s first hydrogen bus only town, transport secretary Grant Shapps revealed today. In February ministers unveiled a £50m fund for local authorities to apply to become the country’s first all-electric bus town as part of £170m in new funding for buses. Speaking to the transport select [...]
Coronavirus gives chance to move to ‘different type of railway’, Grant Shapps says June 24, 2020 Transport secretary Grant Shapps has confirmed that the government will use its emergency control of the UK’s railways to change the way the current franchise system operates. Speaking to the transport select committee this morning, Shapps said: “We were already going to be moving to a different type of railway and different types of contracts [...]
Baggage handler Swissport to make ‘devastating’ 4,175 job cuts June 24, 2020 Airport baggage handler Swissport is set to make 4,175 job cuts as pressure grows on the government to produce a financial package for the aviation industry. Swissport said the coronavirus pandemic has “hit us hard” since the collapse of regional flyer Flybe in March. GMB and Unite, which represent Swissport workers, described the redundancies as [...]
Ford UK chairman calls for government zero emissions strategy June 23, 2020 The chairman of Ford in the UK has today called on the government to join with the automotive industry in developing a long-term strategy to hit its target of only selling zero emissions vehicles by 2035. Speaking at today’s virtual Society of Motor Manufacturers and Traders (SMMT) summit, Graham Hoare said: “A successful future for [...]
Calls for rail reform rise as cost of bailout revealed June 23, 2020 Transport secretary Grant Shapps will appear before the transport select committee tomorrow amid growing calls for the government to use its temporary control of the railways to enact reform of the franchise system. In March, the onslaught of the coronavirus crisis prompted ministers to take the UK’s rail firms under emergency measures for six months, [...]