Coronavirus: Global airlines body says disease will cost industry $252bn March 24, 2020 Industry body the International Air Transport Association has more than doubled its previous estimates of the revenue damage that the coronavirus epidemic will do to the world’s airlines, now setting the figure at $252bn (£214bn). Due to the stringent travel bans and border closures that have been implemented around the world as the result of [...]
Coronavirus: Government will not provide industry-wide airline rescue package March 24, 2020 The government will not provide a single support package for the UK’s airlines and airports, but will instead provide aid on a case-by-case basis. The decision is an apparent u-turn on the government’s original plan. Last week chancellor Rishi Sunak said he would be discussing a potential package for “specifically airlines and airports”. Instead, Sunak [...]
Pharma giant Gilead under fire for obtaining exclusive access to potential coronavirus treatment March 24, 2020 US drugmaker Gilead Sciences has been heavily criticised for securing “orphan status” for a new drug which is seen as a potential coronavirus treatment. Yesterday the US Food and Drug Administration (FDA) gave Gilead the designation for experimental treatment Remdesivir, which was last week mentioned as a possible cure by president Donald Trump. Under the [...]
Tokyo Olympics: 2020 Games postponed by a year due to coronavirus March 24, 2020 This summer’s Tokyo Olympic games will be delayed by one year due to the coronavirus epidemic, the event’s organisers have agreed. “I proposed to postpone for about a year and International Olympic Committee president Thomas Bach responded with 100 per cent agreement,” Japanese prime minister Shinzo Abe said. Speaking to the media following a call [...]
Coronavirus: Chemicals giant Ineos to build hand sanitiser factory in 10 days March 24, 2020 Chemicals giant Ineos will build a hand sanitiser factory in 10 days that will produce 1m bottles a month as more UK firms join efforts to curb the spread of coronavirus. Ineos, which is owned by the UK’s third richest man Sir Jim Ratcliffe, is already Europe’s largest producer of the two chemicals needed to [...]
Coronavirus: Ryanair ‘does not expect to operate flights in April and May’ March 24, 2020 Ryanair has confirmed that it “does not expect to operate flights in April and May” due to the coronavirus epidemic, a week after warning that it would ground “most, if not all” of its planes. The budget carrier has instead offered its aircraft to all EU governments to use for repatriating civilians and to transport [...]
Gold stockpiles depleted as coronavirus increases demand March 23, 2020 Global stockpiles of gold bullion have been severely depleted by the coronavirus outbreak as investors rush to put money into the safe haven assets. According to the Financial Times, European producers have struggled to keep up with the heightened demand, which is reportedly running at around five times normal levels, due to factories being shuttered [...]
Coronavirus: UK death toll rises to 335 as pandemic accelerates March 23, 2020 The number of deaths from coronavirus in the UK has risen to 335, a jump of 54 in the last 24 hours. The increase is the second highest yet recorded for a 24 hour period, behind 20-21 March, when 56 deaths were recorded. As of 1pm, the Department of Health said that there were 6,650 [...]
Coronavirus: Government decision to take over rail network raises questions over Williams review March 23, 2020 The government’s decision to bring the UK’s rail network under the management of the Department for Transport for the duration of the coronavirus crisis has raised questions over the future of the rail franchising system. Former chairman of British Airways Keith Williams is currently conducting a “root and branch” review of the current system ahead [...]
Flying taxi startup Lilium raises $240m in funding round March 23, 2020 German flying taxi firm Lilium has raised an extra $240m (£207m) in funding from backers such as Chinese tech firm Tencent. The new funds mean that the startup has now raised more than $340m, which it will use for further development of its prototype jet as well as preparing its facilities to begin production. The [...]
