British Airways owner IAG cuts growth forecast November 8, 2019 British Airways’ owner International Consolidated Airlines Group (IAG) cut its growth forecast for the next few years due to an expected slump in passenger capacity growth. The company said average earnings per share growth would be 10 per cent in the three years from 2020 to 2022, compared to a previous estimate of 12 per [...]
Emirates profit soars as fuel price dip gives airline a boost November 7, 2019 Emirates airline saw profit nearly quadruple in the first half of the year, bouncing back from its lowest half-year results in a decade in 2018. The Dubai-based firm, which is owned by the state, cashed in on a decline in global fuel prices, but said global currency movements had an adverse impact. The state-owned airline [...]
Aston Martin is hoping next year’s James Bond movie will boost sales November 7, 2019 The chief executive of ailing luxury car manufacturer Aston Martin hopes next year’s James Bond movie will give the firm a financial boost. Shortly after announcing the company had fallen to a £13.5m loss in the third quarter of the year, Andy Palmer said the series usually gives Aston Martin a lift in China, a [...]
Revealed: These are London’s most overcrowded Tube lines November 7, 2019 London’s Tube lines are running at overcapacity during morning rush hour, new figures have revealed. Statistics from mayor of London Sadiq Khan show that morning peak hour capacity on the London Underground is more than 100 per cent, with the Northern, Central and Jubilee lines the most crowded. Read more: TfL adds more trains to [...]
CMA flags competition concerns on First Group’s West Coast Rail franchise November 7, 2019 The UK’s competition watchdog has sounded the alarm on 21 routes awarded under the new West Coast Rail franchise. The Competition and Markets Authority (CMA) has concerns on routes between Preston and Scotland after the government awarded the rail franchise to a joint venture between First Group and Trenitalia. Read more: Watchdog casts eye over [...]
TfL plans new Thames piers to cater for 20m passengers November 6, 2019 Plans to transform the Thames into a major commuter hub have taken a step forward with new passenger piers set to be built along the river. Transport for London (TfL) announced today it would build new public piers in a bid to increase the Thames’ capacity to cater for public transport journeys. Read more: Rory [...]
Business groups warn South Western Railway strikes will hurt Christmas trade November 6, 2019 Business groups have slammed the rail union’s planned December South Western Railway strikes, predicting they will cause major disruption to Christmas trade. Drivers and train guards from South Western Railway (SWR) are planning on walking off the job for 27 days in December. Read more: RMT union announces 27 days of South Western Railway strikes [...]
Ryanair has grounded three Boeing 737 planes due to cracks November 6, 2019 Ryanair has grounded three planes due to cracks between the wing and fuselage, but has not disclosed it to the public. Three of the airline’s Boeing 737s have been affected by so-called “pickle fork” cracks, which have led to 50 planes being grounded since 3 October across the aviation industry. Read more: Ryanair will ask [...]
Norwegian Air slumps after third share sale November 6, 2019 Shares in Norwegian Air fell more than nine per cent this morning after the struggling airline last night launched its third share sale in two years and a bond issue. The company raised 2.5bn kr (£211.5m) to meet its cash needs through 2020 after selling 27.25m new shares at 40 kr per share. Read more: [...]
Uber shares hit record low as early investors prepare for chance to sell off November 5, 2019 Ride hailing firm Uber’s shares hit a record low today, as shareholders geared up for the expiry of its Initial Public Offering (IPO) lock-up, when early investors will be allowed to sell their stocks. Uber’s share price fell to lows of $27.97, more than nine per cent down, eventually closing at $28.02. Read more: Will Uber’s [...]