British Airways owner IAG sees shares plummet after job cuts announcement April 29, 2020 Shares in British Airways owner IAG plunged this morning after it yesterday announced that it could cut up to 12,000 jobs at the UK flag carrier. As markets opened, shares in the airlines group dropped nearly seven per cent, in another blow to the firm’s already decimated market cap. The firm said that the unprecedented [...]
British Airways says it could cut 12,000 jobs as global travel slumps April 28, 2020 International Airlines Group (IAG) today said a redundancy consultation at British Airways could lead to 12,000 people losing their jobs. IAG said British Airways is formally notifying its trade unions about a proposed restructuring and redundancy programme. “The proposals remain subject to consultation but it is likely that they will affect most of British Airways’ [...]
Breaking: IAG to consult on up to 12,000 redundancies April 28, 2020 British Airways owner IAG tonight announced plans to consult on as many as 12,000 redundancies as Covid-19 continues to wreak havoc on the aviation sector. “In light of the impact of COVID-19 on current operations and the expectation that the recovery of passenger demand to 2019 levels will take several years, British Airways is formally [...]
FTSE 100 falls as doubts set in about coronavirus drug April 24, 2020 The FTSE 100 has fallen amid doubts about a drug that was touted as a possible coronavirus treatment and as the economic toll of the outbreak becomes clearer. Britain’s FTSE 100 stock index had fallen 0.7 per cent to 5,784 points in the afternoon session. The FTSE 250 of mid-cap companies was 0.1 per cent [...]
Foreign Office to bring 3,000 stranded UK nationals back from India April 10, 2020 The Foreign Office has chartered 12 more flights to bring around 3,000 UK nationals back from India as repatriation efforts continue in the wake of the coronavirus pandemic. The new flights come in addition to seven that have already been set up, meaning a total number of 5,000 UK citizens will be brought home from [...]
Coronavirus: Global airlines warn that up to 25m jobs at risk April 7, 2020 Aviation industry body the International Air Transport Association has said that up to 25m jobs could be at risk due to the global slump in travel as a result of the coronavirus outbreak. According to IATA chief executive Alexandre de Juniac, worldwide demand has slumped 70 per cent due to the crisis, with the figure [...]
Coronavirus: British Airways owner IAG suspends 90 per cent of flights April 2, 2020 British Airways owner IAG has said it will now suspend 90 per cent of its flights, up from the 75 per cent previously announced, as the airline industry looks to protect itself against the coronavirus outbreak. IAG joins other UK airlines such as Ryanair and Easyjet, who have both suspended all or almost all of [...]
FTSE 100 bounces back as Trump declares end to oil price war April 2, 2020 The FTSE 100 looked set to end the day on a high as US President Donald Trump said Saudi Arabia and Russia had ended their oil price war. Energy stocks jumped to propel the London index back into the green after a tumultous day for global stocks. Staggering data showed 6.6m US jobless claims occurred [...]
Coronavirus: Hays shares slide after £200m issuance announcement April 2, 2020 Shares in global recruitment firm Hays have tumbled after it announced it will issue £200m of shares in an emergency move to help it shore up its balance sheet during the coronavirus pandemic. Hays said in a trading update this morning that “Covid-19 has driven a very material deceleration in client and candidate activity”. It [...]
Coronavirus: Pets at Home to beat profit expectations after surge in demand April 2, 2020 Pets at Home announced it expected full-year profit to beat previous expectations following an “exceptional” level of demand due to the coronavirus outbreak. The pet store, which has been classified as an essential retailer and is allowed to stay open during the government mandated lockdown – said in-store and online sales had increased as existing [...]