UK airline stocks plunge as Italy reports fourth coronavirus death February 24, 2020 UK airline stocks plummeted in early trading today as the FTSE 100 plunged two per cent after Italy reported a dramatic rise in its number of coronavirus cases. Easyjet’s share price sank 11.6 per cent while British Airways owner IAG suffered an eight per cent drop in its market cap. Tour operator Tui also shed [...]
PSG president Nasser Al-Khelaifi charged in bribery case February 20, 2020 Paris St-Germain president Nasser Al-Khelaifi has been indicted by Swiss authorities in connection with a wider Fifa bribery investigation concerning World Cup television rights. Prosecutors have charged Al-Khelaifi with inciting former FIFA secretary general Jerome Valcke to commit criminal mismanagement. Valcke – who had influence over awarding TV rights for FIFA tournaments until 2015 – has also [...]
Global aviation to lose $30bn as a result of coronavirus outbreak February 20, 2020 Global aviation body the International Air Transport Association (IATA) has today said that the coronavirus outbreak will cost the world’s airlines a combined $29.3bn in revenue, a reduction of five per cent on December’s estimates. The vast majority of the cost – $27.8bn – will be borne by carriers based in the Asia-Pacific, with Chinese [...]
Qatar Airways buys $600m stake in British Airways owner IAG February 19, 2020 Qatar Airways has upped its holding in British Airways owner IAG to 25.1 per cent after buying an additional $604m (£465m) stake in the airline group. The Middle Eastern carrier previously owned a 21.4 per cent stake in IAG, which has seen its share price rise 52 per cent in the last six months. The [...]
Rail franchising model ‘set to be scrapped’ in coming weeks February 16, 2020 Boris Johnson is set to dramatically overhaul the nation’s rail network by scrapping the rail franchise model and capping profits by private providers. Former British Airways boss Keith Williams was drafted to conduct a review of Britain’s railways last year, with the report set to be released in the coming weeks. It’s now expected that [...]
Storm Dennis: UK braces for second weekend of flooding and travel disruption February 15, 2020 Just one week after Storm Ciara caused disruption across the country, the UK must now brace for Storm Dennis to wreak more havoc. There are severe weather warnings in place for most of the UK with up to a month’s worth of rainfall in some areas. The military has been deployed to provide extra support [...]
Government to hold crunch talks with Flybe over potential loan February 12, 2020 The government is set to hold talks with struggling regional airline Flybe this week over proposals for a potential loan. Whitehall officials are expected to meet with the airline and its shareholders as soon as tomorrow to discuss a potential £100m in government support, Sky News reported. One scenario for the proposed deal could see [...]
Government ‘considers taking stake’ in struggling airline Flybe February 11, 2020 The government is said to be mulling taking a stake in struggling airline Flybe, despite concerns about state aid rules and a fierce backlash from the budget firm’s rivals. Ministers are in talks with Flybe and the European Commission to ensure any rescue deal did not contravene rules about government intervention, the BBC reported. While [...]
Coronavirus: British Airways extends Beijing and Shanghai flight suspension February 10, 2020 British Airways has extended its suspension of flights to Beijing and Shanghai until April due to the outbreak of coronavirus. The airline said today that all flights to the two Chinese cities have been cancelled until 31 March, while flights from Beijing and Shanghai are cancelled until 1 April. Flights to the cities had originally [...]
Storm Ciara latest: Man dies after tree hits car February 10, 2020 Please update this page manually as we update it with the biggest Storm Ciara news. 3:40pm: 98 per cent of 413,000 homes have power restored UK Power Networks have announced that they have reconnected 98 per cent of the 413,000 homes that were without power due to the impact of Storm Ciara. It added that [...]