Boeing’s shares fall following China Eastern Airlines’ crash March 21, 2022 Boeing’s shares fell 4.60 per cent today, opening at $184.40 after a 737 operated by China Eastern Airlines crashed in the country. Compared to Friday’s closure, the company’s stocks went down 8 per cent in pre-market trading but recovered slightly after the bell. Authorities said the crash’s cause was still under investigation, but the plane [...]
Govia Thameslink avoids nationalisation plans despite £23.5m Southeastern fine March 21, 2022 Railway operator Govia Thameslink is expected to avoid nationalisation plans even though its subsidiary Southeastern was slapped with a £23.5m fine. A joint venture between the Go-Ahead Group and French public transport company Keolis, Govia is reportedly being awarded a “national rail contract”, which will allow it continue operations. Whitehall sources told the Telegraph an [...]
Irish transport minister to speak with Ryanair following airfare criticism March 21, 2022 Ireland’s transport minister Eamon Ryan said today he would talk to Ryanair after the low-cost airline was accused of hiking prices of flights out of Poland. Larysa Gerasko, Ukraine’s ambassador to Ireland, told a Dublin EU committee last week that it was “unfortunate” behaviour on the airline’s side, especially as Polish airports such as Krakow [...]
Which? calls on CAA to investigate Ryanair’s refund policy March 18, 2022 UK consumer champion Which? has called on the UK Civil Aviation Authority (CAA) to investigate Ryanair’s refund policy after a customer threatened to sue the carrier. Ryanair announced last year the introduction of a new refund policy, which sees the airline pay customer refunds into a “wallet” attached to the customers’ account. If passengers want [...]
Brits confident about travelling abroad following end of Covid rules March 18, 2022 After almost two years of “staycations” Brits feel now confident about booking trips abroad. According to a research by trade association ABTA, 57 per cent of British people have a holiday abroad booked for the next 12 months. Up 44 per cent on October levels, the figures are close to pre-pandemic levels as UK travel [...]
P&O lays off 800 people following £100m loss March 17, 2022 Ferry operator P&O Ferries confirmed today it is laying off 800 members of staff after the pandemic caused the company to post a £100m loss year-on-year. “Our survival is dependent on making swift and significant changes now,” said a company spokesperson. “Without these changes there is no future for P&O Ferries. Staff will receive compensation [...]
IAG offers €100m loan to Globalia for 20 per cent stake in Air Europa March 17, 2022 British Airways’ owner IAG offered today a €100m loan to Air Europa in exchange for a 20 per cent stake in the company. The airline said the seven-year unsecured loan would be offered to the carrier’s owner Globalia and, following regulatory approvals, it could be turned into the 20 per cent share. “This agreement will [...]
BA’s South African franchisee Comair returns to the skies following suspension lifting March 17, 2022 British Airways’ (BA) South African franchisee Comair announced today it had restarted operations after a suspension by the country’s aviation authority was lifted. “After a thorough review of Comair’s documentation, the SACAA has lifted the precautionary suspension of Comair’s licence,” said chief executive Glenn Orsmond. “We’re pleased that the situation is finally resolved.” The regional carrier said [...]
Stagecoach merger creates superior value than DWS offer, says National Express March 17, 2022 A merger between rivals National Express and Stagecoach could unlock higher dividends for shareholders compared with DWS’s offer, National Express said today. According to National Express, a merger could see share value go up to 170p per Stagecoach share – a 66 per cent premium on the 105p offered last week by German asset manager [...]
TfL to increase tube and bus fines by 25 per cent March 17, 2022 Transport for London’s (TfL) fines are expected to increase by at least 25 per cent, commissioner Andy Byford said in his latest updated. Byford reported that fines are expected to increase from £80 to £100 “to protect our revenue from fare evasion and fraud.” The hike will target chronic fare evaders across the whole TfL [...]
