Fiat Chrysler and Peugeot owner PSA have agreed a merger which could reshape the car industry October 31, 2019 Fiat Chrysler (FCA) and Peugeot owner PSA have agreed to go after a merger which would create a €180bn (£155bn) revenue automotive industry titan. PSA and FCA said they had decided to “work towards” a deal which would give shareholders in each company 50 per cent ownership of the new firm, creating the fourth-largest car [...]
Fewer people wanted to fly this summer, and it has hurt Air France-KLM’s profits October 31, 2019 The parent company of Air France has warned that its income from people buying plane tickets fell in the last quarter, as “geopolitical uncertainties” hit its business. Shares in Air France-KLM fell as much as 12 per cent this morning as the firm reported that net profit had halved during late-summer trading. They eventually recovered [...]
Pilot strikes hits British Airways owner IAG’s profits October 31, 2019 Pilot strikes and fuel costs have dented third quarter profit for British Airways’ owner in line with its September profit warning. International Airlines Group (IAG) posted a third quarter operating profit of €1.42bn (£1.22bn), representing a 7.7 per cent decline from the corresponding period last year. Read more: IAG issues profit warning after British Airways [...]
Car makers suffer ‘another bitterly disappointing month’ as Brexit uncertainty maintains grip October 31, 2019 The malaise that has gripped Britain’s car makers for the last year deepened in September, as the threat of a no-deal Brexit slammed the brakes on investment and caused production to stall. Car manufacturing, an industry which has felt the effects of Brexit uncertainty more sharply than most, fell 3.8 per cent last month to [...]
Revealed: TfL tightened Uber’s driver checks in London licence extension October 30, 2019 Uber’s licensing restrictions have been revealed to include stringent checks on drivers’ documentation and insurance, prompting claims the ride-hailing app has in the past harboured unlicensed drivers. Restrictions were placed on Uber by Transport for London (TfL) in September as a part of a two-month licence extension in September. Read more: Uber suffers blow as [...]
Gatwick airport trials speedy plane boarding method in bid to cut queues October 30, 2019 Long queues to board passenger flights could soon be a thing of the past, if new methods being trialled at Gatwick are successful. Britain’s second-biggest airport is working with Easyjet on plans to get passengers on planes more efficiently. Read more: After Gatwick, how do we prevent future drone chaos? Screens at boarding gate 101 [...]
Volkswagen profits soar in third quarter despite industry malaise October 30, 2019 Volkswagen has powered ahead of the gloom engulfing the global car industry, with rising summer profits driven by sport utility vehicle (SUV) sales. Despite this, the German giant warned that the global car market would “contract faster than previously anticipated in many regions of the world”. Read more: Volkswagen and Ford strengthen ties by teaming [...]
Q&A: What is behind Fiat Chrysler’s proposed mega-merger with Peugeot? October 30, 2019 After Fiat Chrysler’s (FCA) deal with Renault fell apart over the summer, chairman John Elkann has wasted no time in finding a new suitor – Peugeot-owner PSA. The two European automakers are in talks over a potential tie-up that could create a £36bn giant, in a move which highlights how urgently car makers are looking [...]
TfL ‘can’t rule out’ Thor’s hammer as cause of huge London Overground delays October 30, 2019 Travel chaos hit London Overground commuters today as the service suffered suspensions due to a track obstruction. Londoners coming into the city were forced to find alternative routes with no service between Highbury & Islington and New Cross, Clapham Junction, West Croydon and Crystal Palace. Read more: Crossrail is at risk of even more delays [...]
Boeing chief executive accused of lying as senators grill him on 737 Max crashes October 29, 2019 Boeing chief executive Dennis Muilenburg faced accusations of lying this afternoon during a bruising hearing on how his company certified its 737 Max jet to fly, after two crashes in the last year killed 346 people. Muilenburg, who was last month stripped of the dual role of chief executive and chairman, has spent much of [...]