Car use on the rise as drivers await easing of lockdown measures May 8, 2020 The UK’s drivers have begun to use their cars more than earlier in the coronavirus lockdown period, an study by the RAC has found, ahead of Sunday’s announcement of how the measures will be eased going forward. Comparing data from last week to that in the second week of lockdown, the RAC found that the [...]
Air France-KLM posts €815m loss as coronavirus crushes demand May 7, 2020 Air France-KLM this morning reported an €815m (£713.9m) loss for the first quarter on the back of the total collapse in flight demand caused by coronavirus. Revenue fell 15.5 per cent to €5bn in the first quarter, with its net loss widening to €1.8bn from €324m. The Franco-Dutch airline said that the plunge would continue [...]
British Airways: Five things you need to know as IAG reports £1.5bn loss May 7, 2020 British Airways owner IAG this morning reported a total first quarter loss of €1.8bn (£1.5bn), saying that it was currently operating 94 per cent down on its total passenger capacity. More worryingly, it said that it expected the second quarter’s results to be far worse, and warned that passenger demand would not return to pre-coronavirus [...]
AA profit rises a fifth after strong operational performance May 7, 2020 Driving association the AA saw its profit rise nearly a fifth over the financial year, and said it expected this year’s performance to be only marginally lower due to the coronavirus crisis. Shares in the motorists group rose nearly 14 per cent on the back of the announcement. The figures Profit for the year rose [...]
Trainline ‘confident’ it can navigate coronavirus downturn as revenue grows May 7, 2020 Travel ticketing platform Trainline has said that it is “confident” it can navigate an extended coronavirus downturn, as its revenue grew 24 per cent last year. The firm said that although passenger numbers in the UK and Europe are currently down 95 per cent, its long term growth strategies remained intact. The figures Trainline said [...]
British Airways owner IAG targets ‘meaningful return’ to flying in July May 7, 2020 British Airways owner IAG has announced that it is targeting a “meaningful return” to operating flights in July, but warned passenger numbers across the whole year could fall by 50 per cent. The airline warned that it did not expect to see a return to pre-coronavirus passenger numbers until 2023, meaning further restructuring would be [...]
Aviation chiefs plead for more help from government amid coronavirus chaos May 6, 2020 Representatives of the UK’s airports and airlines have said that the government must do more to support the aviation sector, warning that it “does not understand the strategic role the industry plays in the economy”. Speaking to the transport select committee, Tim Aldersdale, the chief executive of Airlines UK, said that there were “lots of [...]
Sadiq Khan unveils plans to transform roads for walkers and cyclists post lockdown May 6, 2020 London mayor Sadiq Khan has unveiled a new plan to transform the capital’s streets to accommodate a huge increase in walking and cycling once lockdown measures lift. Under the “Street Space” initiative, pavements will be widened and extra cycle lanes put in to allow people to travel to work while maintaining social distancing. Writing in [...]
Uber to cut 3,700 employees as ride-hailing demand slumps due to coronavirus May 6, 2020 Uber will cut 3,700 employees and its chief executive will forgo his salary for the rest of the year as demand for ride-hailing services collapses due to the coronavirus outbreak. The company said the job losses will include roles in its customer support and recruitment teams, with $20m in costs expected to be incurred as [...]
BMW lowers guidance as coronavirus stalls demand May 6, 2020 German automotive giant BMW has lowered its guidance for the year due to coronavirus, the firm announced today, saying the pandemic would “seriously dampen demand” across all of its markets. The Munich-headquartered company said that its earnings margin for the year would fall to zero to three per cent, down from the two to four [...]