Airlines face £84bn loss in ‘worst year in aviation history’ June 9, 2020 Global aviation body the International Air Transport Association (IATA) today said that the coronavirus crisis will see the world’s airlines make record losses of over £$100bn over 2020 and 2021. At a press conference this afternoon, director general Alexandre de Juniac said: “The losses this year will be the biggest in aviation history—over $84bn in [...]
Ferry service Thames Clippers to restart on 15 June June 9, 2020 River bus service Thames Clippers will return to service from 15 June as lockdown measures continue to ease and more commuters return to work. The company, which runs ferry journeys to 23 piers across London, will operate a bespoke timetable when it restarts services next week. Thames Clippers has made a number of changes to [...]
UK tourism group says air bridges will be set up by 29 June June 9, 2020 A tourism lobby group has said that air bridges to other countries will be operating by 29 June, saying it had received assurances on the matter by senior government officials. In a statement, Quash Quarantine, a 500-strong group of travel and hospitality firms, said that it was considering options including joining British Airways’ legal challenge [...]
French government presents €15bn aid package to save aviation sector June 9, 2020 The French government has this morning unveiled a €15bn (£13.3bn) plan to save its aerospace industry, saying that 100,000 jobs are at risk due to the coronavirus crisis. The rescue package, which includes pre-announced measures such as a €7bn loan to flag carrier Air France, comes amid the worst aviation downturn in history. New measures [...]
Hong Kong government to bail out struggling Cathay Pacific June 9, 2020 Hong Kong’s government will take an equity stake in embattled airline Cathay Pacific as part of a HK$39bn (£4bn) bailout of the struggling carrier. As a result of the coronavirus crisis, Cathay Pacific has said that its revenue had fallen to one per cent of previous years, adding that it has been burning through £250m [...]
Ride-hailing giant Gett chases $60m raise ahead of stock market debut June 8, 2020 Gett, the ride-hailing company part-owned by car giant Volkswagen, is close to raising a $60m (£47m) funding injection as it gears up to go public. The Uber rival is finalising the round which would be its first external fundraise since it secured $200m from investors last year. Sources told Sky News that the new funding [...]
Honda investigating suspected cyber attack after IT issues June 8, 2020 Japanese carmaker Honda is investigating a suspected cyber attack after experiencing issues with its IT network. Honda began to experience issues with its IT networks in Japan and Europe on Monday, Sky News reported, citing sources who said the company believed this was due to unauthorised attempts to breach its systems. Honda confirmed there was [...]
Two more Easyjet board members to step down this year June 8, 2020 Two members of the Easyjet board will step down this year, it was announced this morning, just a few weeks after finance chief Andrew Findlay also turned in his resignation. Deputy chairman Charles Gurassa and finance committee chair Andy Martin will quit the board in line with corporate governance best practice, having each served for [...]
European Commission set to scrutinise Fiat-PSA mega-merger June 8, 2020 The European Commission may seek concessions in order to clear the proposed $50bn (£39.6bn) merger of Fiat Chrysler and Peugeot owner PSA over competition concerns. Reuters reported that the body’s antitrust regulators were worried by the potential size of the two firm’s market share in small vans. According to sources, the two firms must dispel [...]
Lookers delays financial results further and warns of share suspension June 8, 2020 Car dealership firm Lookers has delayed publishing its financial results for the third time and has warned it may have to suspend trading. Lookers had been scheduled to report its 2019 financial results in March but had to delay publication until April after it had “identified potentially fraudulent transactions” and hired Grant Thornton to review [...]