MPs call for “urgent” decision on airport expansion July 24, 2016 A final decision on expanding the UK's airport capacity needs to be made "urgently", a group of MPs have said, with further delay putting the economy at risk. A report from the British Infrastrucutre Group (BIG), a cross-party group led by Grant Shapps, urged Theresa May to make a decision "to show the new leadership's mettle". Read more: Heathrow [...]
Ferry passengers at Dover delayed for up to eight hours by enhanced French security checks July 23, 2016 Heightened French security checks have left ferry passengers at Dover waiting for more than four hours to get through passport controls. Motorists in Kent have also been affected, with delays of up to eight and a half hours expected on the roads leading to Dover. Backlogs have been most severe on the A20 and A2, [...]
American Airlines share price rises three per cent as it beats expectations helped by cheaper fuel as a result of weak oil price July 22, 2016 Shares in American Airlines were up by over three per cent in early US trading after the carrier reported a better-than-expected profit in the three months to 30 June, boosted by lower fuel prices. Net income plunged 44 per cent to $950m (£726m) as provisions for income tax surged to $543m from $15m, and excluding exceptional items, [...]
London travel watchdog calls for action on Southern Rail July 22, 2016 London TravelWatch has called for an independent review of the Southern Rail franchise, after the train company slashed the number of services it provides. The independent travel watchdog, which is funded by the London Assembly, said it was greatly concerned "about the continuing poor performance and unreliability that Southern Rail passengers are facing". London TravelWatch [...]
These are the most complained about airlines July 22, 2016 The worst offending airlines and airports of the year have been revealed, and you guessed it, easyJet and Ryanair have topped the charts. The internal data from EUclaim showed the most complained about British airlines, revealing the number of people seeking compensation against Ryanair has more than doubled in the last year. During the period [...]
Heathrow boss says Brexit means airport expansion plans need to move forward as company reports revenue grew to £1.3bn in first half of 2016 July 22, 2016 Heathrow boss John Holland-Kaye today said expanding the west London airport will give Britain the post-Brexit boost it needs, as the company reported revenue and profit grew in the six months to 30 June. Revenue was up one per cent to £1.32bn, from £1.31bn in the same period of 2015, while pre-tax profit jumped 8.7 [...]
As Tesla unveils plans for a “solar-roof-with-battery product”, will Elon Musk’s company make money any time soon? July 22, 2016 James Hind, chief executive of Carwow, says Yes. Tesla has built a highly desirable brand, as shown by the huge number of pre-orders for the Model 3. Demand for its cars will therefore be strong – even if other manufacturers manage to rival its electric technology. The company is spending a lot on setting up supply, [...]
Easyjet revenue dips in third quarter despite passenger number growth July 21, 2016 Easyjet said today that June's Brexit vote, as well as recent events in Turkey and the truck attack in Nice, had hit consumer confidence and contributed to a "difficult" trading environment. And the company also said that trading prospects were so uncertain that it would be impossible to give a profit forecast. Shares in the company [...]
Eurotunnel’s share price drops after profit warning July 20, 2016 Eurotunnel has warned over its earnings this year and next after the pound's rapid plunge in the wake of last month's Brexit vote. The Channel Tunnel operator said its 2016 objective of €560m (£469m) in earnings before interest, taxation, depreciation and amortisation (Ebitda) was now €535m due to a change in the exchange rate. Meanwhile, its [...]
Volkswagen shares jump on surprise trading update showing operating result ahead of expectations July 20, 2016 Motor manufacturer Volkswagen boosted its share price today with an ad-hoc trading update containing positive profit news. The company said its operating results before special items is "significantly higher than market expectations for the first half of 2016" at €7.5bn (£6.3bn), "despite the ongoing economic impact from the diesel issue". Volkswagen was engulfed in scandal last [...]