Thomas Cook on the brink of collapse: What happens now? September 20, 2019 Thomas Cook could collapse as early as Sunday if it cannot find another £200m to seal a rescue deal. The historic British company said it is in talks to find the extra cash with stakeholders like top shareholder Fosun and lenders. Read more: Thomas Cook’s share price crashes as investors demand another £200m But even [...]
British Airways reinstates half its flights for 27 September as pilots cancel strike September 20, 2019 British Airways has restored around half of the 800 flights originally scheduled for 27 September after pilots announced they will no longer be striking next Friday. The airline has announced that customers whose flights had been cancelled due to the intended strikes can now rebook onto these flights if they wish. Read more: BA pilots [...]
Rolls Royce share price suffers as it reveals engine setback September 20, 2019 Rolls Royce said this morning it will take longer than expected to get its Trent 1000 engines back in the air after one fell apart over Italy earlier this year. The company said that it has had to remove more engines than expected from planes. Read more: Rolls-Royce: Engine issues still in focus after ‘storm [...]
Watchdog probes West Coast rail franchise award to First Group and Trenitalia September 20, 2019 Britain’s competition watchdog has said it is investigating the award of the West Coast partnership to First Group and Trenitalia. The Competition and Markets Authority (CMA) is looking at whether the joint operation could lead to “a substantial lessening of competition within any market”. Read more: Saga profits slump The CMA is inviting comments on [...]
British Airways and the pilot strike: Are shared profits schemes the answer? September 20, 2019 British Airways’ operations ground to a halt last week due to a pilots’ strike. The airline’s flight crews argued that they should be rewarded with a cut of the company’s rising profits, having previously taken hits to their pay when BA struggled. While the pilots have called off a strike due to take place on [...]
Bank demand leaves Thomas Cook exploring options September 19, 2019 Thomas Cook is looking at its assets as it attempts to stave off demise, reports tonight say, after lenders demanded significant contingency funding. Sky News’ Mark Kleinman has been told by insiders that “every possible option” is on the table as they look to salvage some 20,000 jobs. Kleinman reports the 178-year-old holiday giant has [...]
Ryanair threatening to remove pilot perks over strikes, union claims September 19, 2019 Striking Ryanair pilots have accused the airline of threatening to remove their perks if they take part in this month’s planned walkout. Ryanair pilots who are members of the British Airline Pilots’ Association (Balpa) began their strike action yesterday, which is due to continue on 21, 23, 25, 27, and 29 September. Read more: Ryanair suffers [...]
Ryanair expects to see Boeing 737 Max crash jet back in UK skies by March next year September 19, 2019 Ryanair expects the grounded Boeing 737 Max jet will be back in Britain’s skies by the beginning of March 2020, despite misgivings about such a timetable in Europe. At the budget flyer’s annual shareholder meeting, chief executive Michael O’Leary has told shareholders he expects the jet, which was grounded in March this year after the [...]
Crossrail could need an extra £400m and open behind schedule, bosses warn September 19, 2019 Crossrail could end up needing an extra £400m in a worst case scenario and open later in 2021, bosses have revealed. Crossrail, also known as the Elizabeth Line, is already running £2bn over budget and years late, after it failed to open on time last December. Crossrail bosses told the Transport for London (TfL) board [...]
Grant Shapps says rail firms should be rewarded for running trains on time September 19, 2019 Transport secretary Grant Shapps has suggested rail firms should be given financial rewards for running trains on time, admitting that they still get paid when services are late. Shapps said rail firms currently operate in a “dysfunctional and flawed” system where “they can not run trains on time and still get paid”. Read more: A [...]