Inflation will not hit us as much, says boss of airline Play August 23, 2022 Inflation will not hit Icelandic low-cost carrier Play as much as bigger competitors, according to chief executive Birgir Jonsonn. “Some people will not travel because of [the cost of living],” he told City A.M. “But if they do, then I think more people will look for the most economical way of travelling and this is [...]
Unite union boss warns disputes will continue if workers not paid properly August 23, 2022 Unite union chief Sharon Graham has warned employers there will be no end to the strikes that threaten to cripple the British economy. “I expect employers that have the ability to pay to do so and stop using inflation and the pandemic as a reason not to pay proper pay rises to workers,” Graham, who [...]
‘Business as usual’: Gatwick returns to black and scraps passenger cap August 23, 2022 Gatwick has returned to business as usual following a turbulent two years, plagued by Covid and, more recently, by this summer’s travel chaos. Chief executive Stewart Wingate told City A.M. that the West Sussex airport recovered strongly following the UK Government’s decision to scrap all Covid travel rules, posting a profit after tax of £50.6m [...]
Elizabeth line: Direct services from Reading and Heathrow to central London will begin in November August 23, 2022 Businesses have welcomed the integration of Elizabeth line services from Heathrow, Reading and Shenfield from 6 November. “The upgraded services will be greatly welcomed by businesses across the Capital that rely on footfall more than ever before to help them navigate their recovery from Covid, cost of living pressures and rising inflation,” said Ruth Duston, [...]
Eurostar boss steps down passing the baton to rail veteran Gwendoline Cazenave August 22, 2022 Gwendoline Cazenave will replace Jacques Damas as chief executive of Eurostar Group, as the French businessman steps down after two years at the rail operator’s helm. The railway veteran will officially take over on 1 October, having spent two decades working in the industry. A former executive at French state-owned rail company SNCF, Cazenave has [...]
UK supply chain under control despite strike, says port trade body August 22, 2022 Port trade body UK Major Ports Group said that, despite the ongoing eight-day strike at Felixstowe, the UK supply chain remains under control. Tim Morris, chief executive of UK Major Ports Group, told City A.M. that the impact on end consumers “might be less and more spread out than some people might think” as supply [...]
Wizz Air CFO steps down as airliner pursues post-lockdown expansion August 22, 2022 Wizz Air’s chief financial officer has stepped down, as the European airline pursues a pandemic turnaround following a recent loss of €285m. Jourik Hooghe has decided to exit the role to seek “opportunities outside of the company” according to a statement today. However, he will be available during until the end of December during the [...]
Used car market shrinks due to knock-on impact on new vehicles August 10, 2022 The UK used car market has shrunk by almost 19 per cent in the second quarter of this year due to the knock-on impact of semiconductor shortages on new vehicles. According to data published today by the Society of Motor Manufacturers and Traders (SMMT), 1.7 million second-hand transactions have taken place – down by 407,820 [...]
Royal Mail workers announce four-day strike August 9, 2022 Royal Mail workers have announced they will strike four times over the coming weeks in a dispute over salaries. The Communication Workers Union (CWU) said that more than 115,000 postal workers will walk out on 26 and 31 August as well as 8 and 9 September. The decision came on the heels of last month’s [...]
German tyre maker Continental posts €251m loss following ‘hurricane’ of setbacks August 9, 2022 German automotive manufacturer Continental has posted a quarterly loss of €251m (£212.3m) as it described the current setbacks as a “hurricane.” “The current headwind is rather like a hurricane and will not subside any time soon,” commented chief financial officer Katja Dürrfeld. “Given this environment, we have performed well and become more resilient. “We cannot [...]
