Wizz Air dives to €590m loss as wait for recovery goes on April 15, 2021 Wizz Air came back down to earth with a bump this morning as the firm braced itself for a net loss of up to €590m for the full financial year. The Hungarian flier warned that it did not expect traffic to pick up until late in the summer due to continued restrictions across its core [...]
Asda overhauls in-store bakeries, putting 1,200 jobs at risk April 14, 2021 Asda has announced plans to overhaul its in-store bakeries in a move that could put up to 1,200 jobs at risk. The firm said that it had started a consultation with staff over the move, stressing that staff redundancies were “the last option”. “If the proposals are enacted, the priority will be to move as [...]
Oil prices surge as refining surge fuels demand hike April 14, 2021 Oil prices surged today as a larger than expected fall in US crude stocks gave fresh indications that fuel demand is beginning to increase as coronavirus restrictions begin to be rolled back around the world. Worldwide standard Brent Crude saw prices jump 4.2 per cent today, rising to $66.34. US counterpart West Texas Intermediate (WTI) [...]
UK working to deliver in-person COP26 climate summit, says Sharma April 14, 2021 Alok Sharma has today told MPs that the UK is working to ensure that this November’s COP26 climate summit can be held in person. Speaking in Parliament today, Sharma, the conference’s president, added that there was no intention of postponing the conference for a second time. “We are working very hard to ensure we deliver [...]
Phoenix from the ashes: the rise, fall, and rebirth of Flybe April 14, 2021 It’s been a bumpy ride. From humble beginnings as Jersey European Airways to becoming Europe’s largest independent carrier, followed by downturn, collapse, and now rebirth, Flybe’s 40-year flight path has been anything but direct. After becoming Europe’s biggest regional airline in the middle of the 2000s, the end of the 2010s saw the carrier plunged [...]
Flybe set for summer return as buyout deal completed April 14, 2021 Flybe’s journey back to the skies moved a step closer today after the sale of the collapsed airline to a firm backed by private equity firm Cyrus Capital was completed. The deal, which was first announced in October last year, will see new owner Thyme Opco change its name to Flybe Limited. A spokesperson for [...]
Too early to speculate on travel ‘green list’ countries, ministers insist April 14, 2021 The UK’s aviation minister has said it is still too early to speculate on the countries that will be on the travel “green list”, despite increasing calls for clarity from the travel industry. With just over a month to go before international travel is due to restart on 17 May, airlines and passengers alike are [...]
Ryanair loses legal challenges to EU state aid for Scandi airlines April 14, 2021 Ryanair has this morning lost its attempt to have state aid provided by the EU to Scandinavian airlines SAS and Finnair ruled unlawful. The Luxembourg-based General Court, the EU’s second highest legal body, ruled that the bailouts were in compliance with the bloc’s rules on state aid. The ruling is another blow to the airline, [...]
Exclusive: Covid-19 drives Londoners behind the wheel sooner than planned April 14, 2021 London dwellers are now more likely to buy a car sooner than planned than in any other region of the UK as a result of Covid-19. New figures from Close Brothers Motor Finance, shared exclusively with City A.M., show that over a fifth of Londoners – 21 per cent – are now more likely to [...]
Boeing beats rival Airbus for quarterly orders for first time since 2019 April 13, 2021 Boeing booked more net quarterly orders than rival planemaker Airbus for the first time in over two years, new statistics released today show. From January to March 2021, the aerospace giant landed 282 more orders in total, and 76 when cancellations are taken into account. By contrast, its European counterpart saw its net tally fall [...]
