Ryanair boss Michael O’Leary: We will grow stronger in a recession August 30, 2022 Ryanair’s chief executive Michael O’Leary said the airline will grow stronger amid the UK’s predicted recession. The low-cost carrier said that people will not stop travelling altogether, but they will shy away from more expensive fares put forward by competitors. “People in a recession will get much more price sensitive,” O’Leary told reporters today during [...]
TfL warns it will have to ‘hand in keys’ to govt if no funding deal is reached August 30, 2022 TfL will have to “hand in the keys” to the government if a long-term agreement is not reached, according to commissioner Andy Byford. “If we do not reach a settlement, we will be faced with a rapidly deteriorating situation in which we would not be able to continue to operate and we would likely have [...]
Hiring spree: UK aviation recruiting increases by 42 per cent August 30, 2022 The UK aviation sector has gone on a hiring spree, as recruiting has increased 42 per cent year-on-year in July. Data released today by LinkedIn showed that recruitment in the sector went up compared with the overall UK hiring rate, which has seen a 15 per cent drop. Operative roles, as well as drivers, cleaners [...]
Today: TfL bosses rush into emergency meeting over £3.6bn funding as tube’s future hangs in the balance August 30, 2022 Tube bosses are rushing into an emergency meeting to discuss a government long-term funding worth £3.6bn. Headed by London mayor Sadiq Khan, TfL’s board meeting started at 12pm today but it remains unclear whether TfL bosses will accept the proposal, which was initially put on the table by transport secretary Grant Shapps on 22 July. [...]
Brexit: Large UK corporations suspected of underpaying more than £25m in taxes August 30, 2022 Large UK corporations have been suspected of underpaying £25.3m in post-Brexit import duties from the EU. Research from multinational law firm Pinsent Masons showed that the amount of taxes under consideration by the HMRC has increased by 97.5 per cent in the year ended 5 April, going up from £620,000 in 2021. “The amount of [...]
Financial services firms risk shortages of compliance staff August 30, 2022 Financial services firms around the world are at risk of being hit by shortages of compliance staff due to a surge in the volume of regulatory change. According to a research published today by Thomson Reuters, while 74 per cent of financial services companies expect their regulatory burden to increase in the next year, 61 [...]
Uniper asks Berlin for more help, raising bailout to £16bn August 29, 2022 German energy giant Uniper has asked Berlin’s government for additional funding, raising the total bailout sought to €19bn (£16bn). The company said its current liquidity was impacted by the West’s standoff with the Kremlin over energy supplies and the consequent surge in costs. “As Russia does not honour its supply contracts, we have to buy [...]
Elon Musk: Focus is on releasing self-driving Teslas by the end of the year August 29, 2022 Elon Musk is currently focused on releasing self-driving Teslas in the US, and potentially in Europe, by the year’s end. “The two technologies I am focused on, trying to ideally get done before the end of the year, are getting our Starship into orbit … and then having Tesla cars to be able to do [...]
EU airlines’ seat capacity almost back to pre-Covid levels August 29, 2022 EU airlines’ seat capacity is almost back to pre-pandemic levels. According to an analysis by aviation market intelligence firm CAPA – Centre for Aviation, airline capacity is now at almost 89 per cent of 2019 levels. Projected volumes for the fourth quarter of 2022 have also gone up slightly to 88 per cent over the [...]
Wizz Air crowned worst airline for flight delays August 29, 2022 Wizz Air was crowned the UK’s worst airline for flight delays in 2021, according to data from the Civil Aviation Authority analysed by the PA news agency. Figures showed that Wizz Air – which operates from 10 British airports, including Luton and Gatwick – ran on average 14 minutes behind schedule. Wizz Air was followed [...]
