UK airlines set for jobs crisis on par with collapse of mining in 1980s June 10, 2020 The UK’s aviation sector is on the brink of a jobs crisis as severe as that which devastated the mining industry in the 1980s, a new report has found. According to the New Economics Foundation (NEF), up to 70,000 jobs are under threat as a result of the coronavirus crisis, which has grounded airlines around [...]
Steel firm Celsa closes in on £30m loan June 9, 2020 A Cardiff-based steelmaker is nearing a deal with the government for a loan of £30m to bolster its finances amid the ongoing coronavirus crisis, Sky News reported. If an agreement is reached, Spanish-owned Celsa Steel UK will be one of the first firms to agree a bespoke funding deal outside the government’s official schemes. Although [...]
Airlines face £84bn loss in ‘worst year in aviation history’ June 9, 2020 Global aviation body the International Air Transport Association (IATA) today said that the coronavirus crisis will see the world’s airlines make record losses of over £$100bn over 2020 and 2021. At a press conference this afternoon, director general Alexandre de Juniac said: “The losses this year will be the biggest in aviation history—over $84bn in [...]
Ferry service Thames Clippers to restart on 15 June June 9, 2020 River bus service Thames Clippers will return to service from 15 June as lockdown measures continue to ease and more commuters return to work. The company, which runs ferry journeys to 23 piers across London, will operate a bespoke timetable when it restarts services next week. Thames Clippers has made a number of changes to [...]
UK set for record two months of coal-free electricity June 9, 2020 As of midnight tonight, the UK will not have used coal-powered electricity for two months, the longest period of power generation without coal since the Industrial Revolution. On 8 April, the last of the UK’s four remaining coal power plants was switched off, with all electricity subsequently provided by a combination of gas and low-carbon [...]
UK tourism group says air bridges will be set up by 29 June June 9, 2020 A tourism lobby group has said that air bridges to other countries will be operating by 29 June, saying it had received assurances on the matter by senior government officials. In a statement, Quash Quarantine, a 500-strong group of travel and hospitality firms, said that it was considering options including joining British Airways’ legal challenge [...]
French government presents €15bn aid package to save aviation sector June 9, 2020 The French government has this morning unveiled a €15bn (£13.3bn) plan to save its aerospace industry, saying that 100,000 jobs are at risk due to the coronavirus crisis. The rescue package, which includes pre-announced measures such as a €7bn loan to flag carrier Air France, comes amid the worst aviation downturn in history. New measures [...]
Hong Kong government to bail out struggling Cathay Pacific June 9, 2020 Hong Kong’s government will take an equity stake in embattled airline Cathay Pacific as part of a HK$39bn (£4bn) bailout of the struggling carrier. As a result of the coronavirus crisis, Cathay Pacific has said that its revenue had fallen to one per cent of previous years, adding that it has been burning through £250m [...]
BP set to axe 10,000 jobs due to coronavirus June 8, 2020 Oil giant BP will cut 10,000 jobs as a result of the coronavirus crisis, chief executive Bernard Looney announced today. Reuters first reported that Looney told employees of the cuts, which account for 15 per cent of BP’s workforce, in a global conference call this morning. In a company-wide email seen by City A.M., Looney [...]
Two more Easyjet board members to step down this year June 8, 2020 Two members of the Easyjet board will step down this year, it was announced this morning, just a few weeks after finance chief Andrew Findlay also turned in his resignation. Deputy chairman Charles Gurassa and finance committee chair Andy Martin will quit the board in line with corporate governance best practice, having each served for [...]
