Stobart battle: Judge finds former boss Andrew Tinkler breached duties as a director February 15, 2019 The judge in the bitter court battle between the Stobart Group and former chief executive Andrew Tinkler ruled today that Tinkler had made four “serious” breaches of his duty as a director. His Honour Judge Russen QC said Tinkler breached his contractual and fiduciary duties in four ways: by agitating for the removal of the [...]
Lyft to pitch fast growth to investors as IPO race with Uber intensifies February 15, 2019 Lyft is set to pitch its fast growth in the US to investors as it seeks to beat out rivals Uber to become the first publicly listed ride-hailing company. It will tell investors its share of the US market is close to 40 per cent, a five per cent increase on a year earlier, having [...]
Commuters face severe delays on District Line as rush hour misery strikes February 15, 2019 Commuters are facing rush hour misery this morning with severe delays affecting the District Line. Read more: Rush hour blues: Commuters contend with severe delays to three Tube lines Severe delays have hit trains between Ealing Broadway and Richmond to Earl’s Court after a signal failure at Turnham Green. Minor delays are running between Earl’s [...]
Ryanair admits interest in buying Thomas Cook’s airport slots February 14, 2019 Budget airline Ryanair is interested in buying up some airport slots belonging to embattled Thomas Cook's airline unit, it emerged today. Thomas Cook plunged from profit to loss in 2018, leading it to consider selling off its successful airline division. Read more: Thomas Cook considers airline sale as losses hit £60m Ryanair’s chief marketing officer, Kenny Jacobs, was quoted this [...]
London’s best and worst commuter stations revealed February 14, 2019 London's poor performing trains have been well documented over the past year, but now the best and worst commuter stations around the capital have been revealed. Read more: City commuters hit with car park price rises at key train stations Hertfordshire's Cheshunt station has been voted the worst commuter station around London by rail performance-tracking [...]
Rolls-Royce secures order to build 140 aircraft engines for Emirates February 14, 2019 Engine manufacturer Rolls-Royce has been tasked with building engines for 70 new aircraft after airline Emirates penned an order from Airbus. The order includes building 80 engines to power 40 Airbus A330neo models, and 60 engines to power 30 A350 planes. Read more: Airbus stops making A380 after demand nosedive Chris Cholerton, Rolls-Royce president of [...]
Airbus to halt production of A380 superjumbo jet after demand nosedives February 14, 2019 Airbus’ dreams of ruling the skies with its mammoth A380 superjumbo jet have come crashing down to earth this morning, as it said it would stop making its flagship cruise liner. Outspoken chief executive Tom Enders spoke of his “pain” at having to bring production to a halt after lacklustre demand for the world’s largest [...]
Easyjet confirms talks over possible bid for struggling airline Alitalia February 14, 2019 Easyjet confirmed it is in talks over a possible acquisition of struggling airline Alitalia this morning. The British budget flyer may launch a consortium bid for the airline with Ferrovie dello Stato Italiane and Delta Air Lines for the company. Read more: Flybe directors give shareholders ultimatum over takeover bid Easyjet said the trio wanted [...]
Lights out: Around 1,000 jobs at risk as Utilitywise goes into administration February 13, 2019 Energy broker Utilitywise has fallen into administration as the company struggled to raise enough cash to stay in business. The company said last month it had failed to find the £10m it would need to keep its head above water, and was putting itself up for sale. Lenders had said it would need to raise [...]
DfT took Seaborne’s word that it had secure backing before awarding no-deal ferry contract, says top civil servant February 13, 2019 Britain’s top transport mandarin has said the government had been happy to take Seaborne Freight’s word that it had secured financial backers before the firm was awarded a £13.8m contract. Bernadette Kelly, permanent secretary to the Department for Transport (DfT), said Seaborne was a “known quantity in the industry”. The DfT scrapped its contract with [...]