Commuters brace for summer Tube strike chaos as rail union threatens industrial action April 16, 2019 London is heading for a summer of strikes as the RMT rail union warned it is preparing a ballot for industrial action over potential job losses on the Underground. The union is already battling London Underground bosses over staff pay and the maintenance of trains, in a fight that could result in "London-wide" strikes. Read more: [...]
Lufthansa enters the red with €336m loss as rising fuel costs take a bite out of the airline industry April 16, 2019 German carrier Lufthansa showed and operating loss reaching €336m (£290m) in the first three months of the year as fuel costs ate into its profits. Revenues at the airline grew three per cent year-on-year to €7.9bn, but its €52m operating profit reversed into a big loss. Read more: Easyjet’s had a bumpy ride, but what do [...]
Jet Airways shares dive as management considers operations shutdown April 16, 2019 Jet Airways’ shares crashed this morning amid reports that its board has proposed a total operational shutdown. Read more: Jet Airways fails to secure interim funding from lenders The embattled airline’s share price dropped 12 per cent to 230.45 rupees after The Economic Times reported that its management has mooted ceasing operations entirely, recovering from [...]
Tube delays: Commuters face miserable journey as faulty King’s Cross train disrupts Victoria Line April 16, 2019 The Victoria Line has been hit with severe delays this morning, causing disruption to a key Tube route for Londoners. Read more: Power supply issue causes severe Tube delays A faulty train at King’s Cross was behind the issue, Transport for London (TfL) said. Engineers are trying to fix the train but TfL advised commuters [...]
MPs demand action from pensions regulator over ‘staggering’ deficit in rail sector April 15, 2019 The Pensions Regulator (TPR) has been asked to come clean on the extent of the rail sector's pensions deficit after the issue was brought to a head with the government's decision to ban Stagecoach from bidding for three franchises. MPs on the Committee for Work and Pensions wrote to TPR chief executive Charles Counsell last week [...]
Jet Airways’ future hangs in the balance as it fails to secure emergency funding from lenders April 15, 2019 Troubled airline Jet Airways has failed to secure emergency funding from its lenders, forcing it to extend the cancellation of its international flights. In a letter to staff, Jet Airways chief executive Vinay Dube said flights would be cancelled until Thursday 19 April. "Please note that the current status of our engagement with the lenders and [...]
Energy Ombudsman warns that customer complaints are being left unsolved as suppliers go bust April 15, 2019 An independent arbiter for the energy market has said a slew of company failures over the past year means customers are not getting redress for their complaints. The Energy Ombudsman told City A.M. it is working with regulator Ofgem to find a solution to the problem to “best serve the interests of consumers.” The Ombudsman [...]
Ground to a halt: Climate change protesters smash windows at Shell’s London HQ as blockades continue April 15, 2019 Climate change protesters have attacked the London base of Shell, smashing doors and defacing the property as thousands of activists took to the streets in central London today. Read more: The cheek of it: Climate activists strip off in parliament Demonstrators graffitied the oil giant’s headquarters near Waterloo and several appeared to have glued their [...]
British Airways finance boss to become new chief financial officer at parent company IAG April 15, 2019 British Airways' finance boss Steve Gunning is to take over as the chief finance officer at parent company IAG, replacing the incumbent Enrique Dupuy de Lôme. Willie Walsh's IAG said de Lome would also stand down as the board's executive director when the company holds its AGM in June, where Gunning's appointment will also be put [...]
You can’t blame Brexit for the British car industry’s woes April 15, 2019 Quizzed by Nick Hewer on Honda’s decision to close its Swindon plant earlier this month on BBC radio, I suggested that blaming Brexit for the demise of the Japanese auto makers factory with the loss of 3,500 jobs was not the whole story. Certainly, Brexit plays havoc with the vehicle industry’s sophisticated just-in-time supply chain. [...]