Stobart Group confirms sale of Southend Airport stake but warns of coronavirus delay March 17, 2020 Logistics firm Stobart Group has confirmed that it is in talks to sell a 25 per cent stake in London Southend airport, but that the sale will be delayed due to the coronavirus outbreak. Yesterday Sky News first reported that German-based Avi Alliance had made a £700m approach for a quarter of the airport, with [...]
Covid-19: IATA calls for $200bn in state aid for beleaguered airlines March 17, 2020 Industry body the International Air Transport Association (IATA) has warned that the world’s airlines may need up to $200bn in government support to see them through the coronavirus crisis. Airlines around the world are in talks with different governments regarding the possibility of state aid as the outbreak continues to devastate the aviation industry. Boeing, [...]
Airbus ‘may need government help’ if crisis continues March 17, 2020 European aircraft manufacturer Airbus has suggested that some government support may be needed if the coronavirus crisis lasts several months. The aerospace giant could seek measures to improve liquidity such as state-guaranteed credits, Reuters reported, citing three people familiar with the matter. The prospect of a worse-case scenario is said to have been discussed in [...]
Coronavirus: Government advises against ‘all but essential’ international travel March 17, 2020 The Foreign Office has advised against “all but essential” international travel in a dramatic increase in measures to combat the spread of coronavirus. Foreign secretary Dominic Raab said today that the advice would be implemented with “immediate effect” and would be introduced for 30 days initially. Raab said the new measures were needed to prevent [...]
Transport department refuses to release Garden Bridge report March 16, 2020 The Department for Transport (DfT) has said it will not release a report into the failed £48m Garden Bridge so it can protect a trust that no longer operates. The Garden Bridge Trust was set up to manage the disastrous project, which was championed by Boris Johnson when he was mayor of London and former [...]
European carmakers shutting plants as coronavirus hammers demand March 16, 2020 Car makers across Europe are shutting their plants and slowing production across Europe in response to the growing coronavirus epidemic. Manufacturers including European giants Fiat Chrysler, Peugeot and Volkswagen are all implementing measures to ease output amid fears from workers about possible infection. Unions across the continent have demanded that stricter hygiene controls be put [...]
Heathrow boss to forego salary as coronavirus hammers airlines March 16, 2020 Senior executives at Heathrow Airport including boss John Holland-Kaye will take pay cuts over the next few months as the UK’s busiest airport tries to limit the damage done by the coronavirus outbreak. Sky News first reported that Holland-Kaye would forego his salary until June, making him the latest of a number of airline and [...]
Coronavirus: Union bosses likely to put Tube strike on hold March 16, 2020 Union bosses have indicated they will delay a planned Tube strike during the coronavirus outbreak, after meeting with Transport for London (TfL) today. Members of the train drivers’ union Aslef last week voted to go on strike over a pay dispute. However, it appears the union, which has 2500 Tube drivers, is prepared to suspend [...]
Coronavirus: TfL set to lose £500m from decline in passengers March 16, 2020 Transport for London (TfL) is expecting to lose up to £500m from the impact of coronavirus and will ask the government for financial support. In the past week, passenger numbers on the Tube were down by 19 per cent year-on-year, while bus passenger numbers fell by 10 per cent. The transport body said the figures [...]
Airline stocks in freefall as travel restrictions take hold March 16, 2020 Virgin Atlantic, Easyjet and British Airways owner are scaling back flights after a number of countries imposed travel restrictions amid the coronavirus outbreak. British Airways owner, International Consolidated Airlines Group (IAG) and Easyjet will ground aircraft on an unprecedented scale in an attempt to mitigate the effect of the travel restrictions. Virgin Atlantic said it [...]