COP26: Government brings polluting car ban forward to 2035 February 4, 2020 The government’s decision to bring forward the ban on petrol, diesel and hybrid cars to 2035 has drawn mixed reactions ahead of Glasgow’s COP26 summit. Previously, the government had planned to phase out petrol, diesel and hybrid cars by 2040 as part of its aspiration for the UK to be carbon neutral by 2050. But [...]
Wizz Air investors to sell shares worth £500m February 3, 2020 A major shareholder in Wizz Air today revealed plans to sell up to £500m worth of shares in the budget airline. The sell-off has been initiated by investment funds managed by US private equity firm Indigo Partners, which currently holds a stake of almost 21 per cent in Wizz Air. The airline, which mainly flies [...]
Fresh 737 Max delays hurt Ryanair’s passenger growth target February 3, 2020 Ryanair today warned Boeing 737 Max delivery delays will hurt growth plans as it swung back into profit in its third quarter. Ryanair was expecting its first delivery of the airplane to arrive in spring 2019. But it admitted that will now not happen until September or October 2020. The fresh Boeing 737 Max delivery [...]
Sales of e-scooters leap up over Christmas period despite UK ban February 3, 2020 Sales of battery-powered e-scooters jumped over the festive period last year, despite there being a ban on using the vehicles on public roads. Data collated by Swedish e-scooter startup Voi showed that sales of both e-bikes and e-scooters rose 96 per cent year on year in the three months to the start of January 2020. [...]
Business groups react as Heathrow expansion in doubt again February 2, 2020 Business groups warned that the failure to expand Heathrow would see the UK “fall behind the rest of the world” as the new runway’s future was again plunged into doubt this weekend. It emerged that Spanish infrastructure giant Ferrovial was reportedly considering selling its 25 per cent stake in the airport if it could not [...]
Crossrail boss says he will do without a bonus February 2, 2020 Crossrail’s latest boss has promised that he will “do this job without a bonus” after his predecessors came under fire for receiving over £6.5m in extra payments over the last decade. The payments were made despite Europe’s biggest infrastructure project being £3bn over budget and set to open nearly three years behind schedule. According to [...]
Flybe’s planes at risk of being impounded as wait for rescue package goes on February 2, 2020 Embattled Flybe is facing a nervous wait over its potential £100m taxpayer loan amid reports that air traffic controllers could impound the regional airline’s planes. According to mortgage records, many of Flybe’s planes are owned by other firms such as NordLB and Nordic Aviation Capital, who lease them to Flybe to use. The Sunday Telegraph [...]
Ferrovial adds to Heathrow uncertainty amid warnings over returns February 2, 2020 Heathrow owner Ferrovial has added to the uncertainty over the airport’s long-awaited third runway by saying it might consider selling the asset if it could not get an “adequate return” on its investment. The Spanish infrastructure firm, which owns UK outsourcer Amey, currently owns a 25 per cent stake in Europe’s busiest airport. However, chief [...]
Airbus agrees to pay record €991m UK fine in €3.6bn global bribery settlement January 31, 2020 A London court today approved a record €991m (£833m) fine for Airbus in exchange for suspending the prosecution of alleged bribery. The deferred prosecution agreement (DPA) was part of a €3.6bn global deal agreed with prosecutors in the UK, US and France. Airbus has agreed to pay France €2.08bn and the US €525m to bring [...]
Tube delays: Commuters face Victoria Line chaos after Finsbury Park fire alert January 31, 2020 A fire alert at Finsbury Park has led to rush hour havoc on the Tube today as the Victoria Line was partly suspended, while a signal failure disrupted Piccadilly Line passengers. Commuters face a miserable journey to work with no Victoria Line service between King’s Cross SAt Pancras and Walthamstow Central as Transport for London [...]