Watch the last Thomas Cook plane land in Manchester after collapse September 23, 2019 Passengers on a plane from Orlando to Manchester would be forgiven for breathing a sigh of relief this morning as they became the last Thomas Cook customers to touch down before it went bust, leaving a string of cancellations in its wake. The company, which has been facing financial difficulties for months, shut up shop [...]
Tui share price soars as rival Thomas Cook bites the dust September 23, 2019 Tui’s share price bumped up almost 10 per cent today after Thomas Cook fell into liquidation. Travel operator Tui saw shares rise just shy of 10 per cent before trimming gains to stand 7.7 per cent up at 903p in early trading as its rival collapsed under the weight of a £1.7bn debt mountain. Read [...]
Thomas Cook falls into liquidation as rescue talks collapse September 23, 2019 Thomas Cook has collapsed into liquidation after failing to find the £1.1bn required to keep it afloat. Talks collapsed overnight to sink the holiday firm, leaving around 150,000 British holidaymakers stranded abroad. Read more: Thomas Cook teeters on the brink as 11th hour talks look set to fail The government will now charter dozens of [...]
Debate: Should rail firms be rewarded for running trains on time? September 23, 2019 Should rail firms be rewarded for running trains on time? Yes – Matt Gillow is a research associate at the Adam Smith Institute. Transport secretary Grant Shapps isn’t just offering incentives for operators to deliver an agreed service, but repercussions if they fail. If big rail monopolies commit to a service and fail to deliver [...]
Thomas Cook teeters on brink as eleventh hour talks look likely to end in failure September 22, 2019 Thomas Cook was close to collapsing into administration tonight as eleventh hour talks with its lenders looked set to end in failure. The company’s creditors and the government were tonight anticipating that the world’s oldest travel operator would announce it was ceasing trading tomorrow, Sky News reported. Big Four accountancy firm KPMG was tonight being [...]
Uber poised to bag further temporary licence from TfL September 22, 2019 Uber will have its fate sealed on Wednesday when Transport for London (TfL) makes a decision on the ride-hailing app’s licence in the capital. Uber has currently been running on a 15-month probationary licence, issued last June in the aftermath of Sadiq Khan’s decision in 2017 to strip the operator of its licence over safety [...]
Treasury rebuffed TfL bid for Piccadilly line funds in spending round September 22, 2019 Transport for London (TfL) asked the government for funds for the Piccadilly line signalling upgrade in the recent spending round but was left empty-handed, City A.M. understands. TfL is said to be disgruntled at the lack of funds it received from the Treasury in the recent one-year spending round announced by chancellor Sajid Javid earlier [...]
Thomas Cook asks for government bailout after giving up on private rescue September 21, 2019 Thomas Cook has approached the government in a last-ditch bid to plug a £200m gap that could see it fall into administration this weekend. The travel operator is desperately searching for a rescue deal and has now asked the government for a bailout, the BBC reports. Read more: Thomas Cook on the brink of collapse: [...]
The answer is blowing in the wind: Experts hail cheapest ever offshore wind farms September 20, 2019 The UK will build its first subsidy-free offshore wind farms next decade, campaigners and businesses said this morning as Britain’s cheapest ever offshore wind energy was unveiled. The country cemented its place as a global leader in offshore wind as one tender to provide the grid was quoted at £39.65 per megawatt hour (MWh). Read [...]
Ministers draw up shortlist for £300m post-Brexit ferry contract September 20, 2019 Brittany Ferries, P&O, Stena and Eurotunnel have been shortlisted for a £300m contract to ensure Britain does not run out of medicines and crucial food after Brexit. The government said looking for transport companies that can beef up the UK’s freight capacity ahead of a potential no-deal Brexit. Read more: New £300m no-deal Brexit freight [...]