Menzies shares rocket after NAS buys stake February 17, 2022 Shares of aviation services firm Menzies soared today 23.94 per cent after the company’s Kuwaiti suitor NAS acquired a stake in the Edinburgh-based company. NAS’s parent company Agility said today in a statement it has entered into contracts to purchase 13.2 per cent of Menzies’ total share capital at 605p per share, becoming the majority [...]
Air France-KLM shares tank following €4bn repayment promise February 17, 2022 Shares of aviation colossus Air France-KLM have tanked 7.94 per cent after the group said today it would repay €4bn of pandemic state aid. The announcement overshadowed the positive results obtained in the fourth quarter because of the easing of restrictions, including a 3.7 per cent increase in the company’s core profit and a €4.8bn [...]
Kuwaiti firm defends £468m takeover proposal following Menzies snub February 10, 2022 NAS, the Kuwait company that proposed to take over UK aviation services provider John Menzies, has defended the £468m bid, saying it had taken into consideration Menzies’s debt levels and ability to generate free cash flows. “We have made an attractive offer that we urge Menzies’ shareholders to consider carefully. Our offer represents a 76 per cent [...]
John Menzies shares take off after firm rejects £468m takeover proposal from Kuwait company February 9, 2022 John Menzies’s shares took off this morning, soaring 34.03 per cent after the airport services firm rejected a £468m ($636m) takeover proposal. The Edinburgh-based company said the proposal made by Kuwait firm Agility Public Warehousing was “entirely opportunistic” as it undervalued the company’s worth. The aviation services provider said Agility Public Warehousing’s proposal of buying [...]
Brexit bust: UK flight compensation for delays likely to drop from £220 to £25 February 8, 2022 The government’s plan to slash flight compensation for delays on UK domestic flights has been branded as “another Brexit win”, as it would impact on consumer refund rights. Earlier last week, the Department for Transport (DfT) announced it had opened consultations over the adoption of the new regulation, which would see the UK adopt a [...]
Not so easy yet: Budget airlines far from recovered as number of passengers keeps on dropping February 2, 2022 Two of London’s main budget airlines showed that they have far from recovered from the Covid-19 pandemic, as the number of passengers they carried dropped in January. Even when compared to Omicron-hit December, the airlines said that they had lost 2.7m passengers between them. Ryanair was the worst hit in January when compared to the [...]
Domestic air passengers set for more generous compensation scheme for delays January 31, 2022 Neil Lancefield PA More passengers will receive compensation for delayed domestic flights under plans announced by Transport Secretary Grant Shapps. The Cabinet minister is proposing to make travellers entitled to payouts for flights within the UK which arrive at their destination more than one hour late. The UK currently uses the European Union’s EU261 rule, [...]
What are ghost flights and what is the debacle around them? January 27, 2022 EasyJet’s chief executive Johan Lundgren this morning told investors the airline was in favour of airport slot rules going back to “a normalised delineation,” saying the carrier will not be forced to operate ghost flights to retain its slots. “We should remember that the reason why [governments] made these exceptions was because restrictions were in [...]
Around the world in 155 days: 19-year-old is the youngest woman to complete solo journey January 20, 2022 Belgian-British 19-year-old Zara Rutherford has entered the Guinness World Records after she became the youngest woman to fly solo around the world. During her 52,080km journey, which took her 155 days, Rutherford visited 31 countries, taking off from Belgium on 18 August towards the Atlantic. After stopping in Iceland and Greenland, she flew through the [...]
Fear of costs taking off as EU check in for airlines to pay for all their emissions January 20, 2022 Airlines are expected to pay for all their European CO2 emissions from 2026, a year earlier than what was initially proposed by the European Commission. According to a European Parliament’s draft, the bloc is re-examining its current climate policies, as it aims to cut 55 per cent of emissions by 2030 from 1990 levels, Reuters [...]