TfL agrees £1.6bn bailout deal with government May 14, 2020 TfL tonight agreed a £1.6bn bailout deal with central government after London mayor Sadiq Khan warned that without an emergency cash injection the transport system would run out of cash. The bailout is made up of £1.1bn in cash with a £500m loan. Number 10 has attached a number of conditions to the bailout including [...]
Grant Shapps ‘optimistic’ of TfL bailout deal, but signals potential fare rises May 14, 2020 Transport secretary Grant Shapps has said he is “optimistic” a deal can be struck to rescue struggling Transport for London (TfL), while signalling that fare hikes may be a condition of any bailout. Shapps said at today’s press briefing that a bailout was on its way for TfL, just hours after Sadiq Khan said he [...]
UK government kick starts £2bn transport spending spree May 14, 2020 The government has begun a £2bn spending spree on the UK’s transport infrastructure, according to transport secretary Grant Shapps. Shapps said at today’s press briefing that the government had begun a slew of road and rail projects, which were first announced in the Conservatives’ 2019 election manifesto. Shapps said the government was in the process [...]
MPs slam British Airways’ use of furlough amid 12,000 job cuts May 14, 2020 MPs have hit back at British Airways’ owner IAG after the firm’s chief executive confirmed that up to 12,000 proposed job cuts would still go ahead despite the extension of the job retention scheme until October. In response to IAG chief Willie Walsh’s confirmation of the redundancies, transport select committee chair Huw Merriman said that [...]
Sadiq Khan warns TfL will run out of cash today without government bailout May 14, 2020 London’s mayor Sadiq Khan has given the government an ultimatum saying that if Transport for London does not receive a bailout today the operator will have to cut tube and bus services. Speaking to LBC, Khan said: “Being blunt, today is the last day. Unless the government gives us confirmation of the grant we need, [...]
Wincanton sees revenue fall 15 per cent amid signs of ‘gradual’ recovery May 14, 2020 Logistics firm Wincanton said that revenue in April was down 15 per cent on a year-on-year basis, though it said it was beginning to see encouraging signs of a “gradual increase” in activity levels. In a trading update, the haulage company said that “considerable uncertainty” remained over the financial disruption it would suffer due to [...]
Uber installing in-car partitions to help stop coronavirus spread May 14, 2020 Uber said today it was piloting the installation of screens in 400 cars to help stop the spread of coronavirus. Uber is working with AA to install the partitions in 400 cars in Newcastle, Sunderland and Durham. It is also working with Unilever to distribute hygiene kits to Uber drivers in the UK. Uber said [...]
Uber to spend $50m on safety kit as it tells drivers and passengers to wear masks May 13, 2020 Uber has set aside $50m (£41m) to buy personal protective equipment for drivers as it introduces new rules requiring all users to wear face masks. Chief executive Dara Khosrowshahi today told reporters that the ride-hailing app will roll out a string of new safety measures as it looks to address concerns about the Covid-19 pandemic. [...]
Airbus could cut 10,000 jobs amid coronavirus travel slump May 13, 2020 European aerospace titan Airbus could cut up to 10,000 jobs in the coming days as it struggles with the fallout from the coronavirus pandemic. The Telegraph reported that executives are set to finalise plans for cuts to the company’s 134,000 staff next week. One source quoted in the report said cuts will be “imminent and [...]
Bus industry calls for further government funding as lockdown measures ease May 13, 2020 The UK bus industry has warned that the government needs to extend its emergency funding if operators are to increase the number of services they are running in line with official instructions. Speaking to City A.M., the Confederation for Passenger Transport (CPT), which represents the UK’s bus and coach firms, said that “it was highly [...]