Virgin Atlantic calls on government for £7.5bn airline bailout package March 15, 2020 Virgin Atlantic’s chiefs are preparing to send a letter to Prime Minister Boris Johnson calling for the government to provide a £7.5bn package to support airlines, which have been decimated by the coronavirus outbreak. Sky News reported that Virgin Group chairman Peter Norris will write to Johnson on Monday warning him of the potentially devastating [...]
Norwegian to cut 4000 flights as US coronavirus travel ban hammers airlines March 12, 2020 Beleaguered Norwegian Air has suspended more than 4000 flights, grounding 40 per cent of its long haul capacity, in an attempt to limit the devastation caused by coronavirus. The cancellations come after US president Donald Trump announced a travel ban on 26 EU countries, excluding the UK and Ireland, which will last for 30 days. [...]
Princess owner Carnival suspends cruises for two months due to coronavirus March 12, 2020 Princess Cruises owner Carnival saw its shares plummet 22 per cent today after it suspended the global operations of its fleet of 18 ships for two months. Two of Princesses’ ships have been stricken by the coronavirus outbreak and have been stuck in quarantine to tackle the outbreak. The Diamond Princess was moored off the [...]
US airlines stocks in tailspin as coronavirus travel ban kicks in March 12, 2020 Boeing led a rout of US aviation stocks today as president Trump’s coronavirus travel ban battered the airline industry as markets opened across the Atlantic. For the second day in a row the aerospace giant shed around 15 per cent of its value, whilst fellow international carriers American Airlines, Delta and United all suffered double-figure [...]
Go Ahead shares plunge as firm warns on full year profit March 12, 2020 Bus operator Go Ahead Group saw its shares shed over a third of their value today after the firm reduced its full year profit expectations on the back of extended periods of adverse weather. The firm added that it was also expecting the coronavirus impact to have an impact on its results, but could not [...]
Coronavirus: US travel ban decimates airline stocks March 12, 2020 President Donald Trump’s travel ban on European citizens entering the US due to coronavirus fears sent airline stocks to new lows today after weeks of pressure on the sector. Recent FTSE 100 dropout Tui led the falls, posting a 10.4 per cent decline by the mid-morning, while British Airways owner IAG was not far behind, [...]
Budget 2020: Sunak pledges extra £175bn to ‘get Britain building’ March 11, 2020 New chancellor Rishi Sunak pledged to “get Britain building” in today’s budget, unveiling an additional £175bn in capital investment to “level up” roads, railways, housing and broadband across the country. The extra money, which forms part of Sunak’s much trailed £640m spending package, means that by 2024 annual expenditure will rise above £110m, triple the [...]
Jet2 dodges airlines malaise as budget carrier raises profit forecast March 11, 2020 Jet2 owner Dart Group today bucked the current airlines malaise, raising its profit forecast for the second time in six months despite the pressure being exerted on the aviation industry by the coronavirus outbreak. In a trading update, the airline said that until “very recently” customer demands for its package holidays had remained “consistently strong” [...]
Budget 2020: Government to review Air Passenger Duty March 11, 2020 The government has announced that it will undertake a review of Air Passenger Duty (APD) as a part of its new Budget, after calls from the aviation industry to scrap the tax. It said that it would “consider the case for changing the APD treatment of domestic flights, such as reintroducing a return leg exemption, [...]
Budget 2020: Government announces £27.4bn roads revamp March 11, 2020 On the back of new chancellor Rishi Sunak’s announcement of £27.4bn in investment for the UK’s roads in today’s budget, the Department of Transport has published its strategy for revamping the UK’s motorways and “A” roads. The funding will go towards the both the enhancement and repair of existing roads as well as completing a [...]
