Island hopping, dodging coconuts and chasing giant tortoises in Seychelles May 10, 2019 Biking around the flat sandy paths of Desroches island in the Indian Ocean, with only birds, turtles and tortoises for company, I happen across a warning sign nailed to a palm tree on the edge of the new Four Seasons resort. “Beware of falling coconuts”. Just moments later I encounter a similarly rustic sign bashed [...]
Heathrow Airport sees April passenger numbers soar to 6.8m as May 10, 2019 Heathrow Airport had its busiest ever April last month with a 3.3 per cent increase on the year before as passenger numbers soared to 6.79m. It was the 30th consecutive month of growth for the airport as it averaged 226,600 passengers per day. Read more: Fuel and currency costs hit profit at British Airways owner IAG A [...]
Fuel and currency costs hit profit at British Airways owner IAG May 10, 2019 Profits shrank at British Airways’ owner in the first three months of the year as fuel costs and other headwinds hit the airline, it revealed today. But shares rose as International Airlines Group (IAG) said full-year profits would replicate 2018’s success, when income rose almost 10 per cent to €3.2bn (£2.76bn). Read more: British Airways [...]
Airline passengers face new ticket fee to cover cost of carrier collapses May 9, 2019 Airlines have hit out at proposals to charge passengers an extra 50p to pay for the cost of repatriating travellers who have been stranded following a carrier collapse. The government's insolvency review, which was set up by the Department for Transport (DfT) following the collapse of Monarch in 2017, has suggested the UK set up a "flight protection [...]
Scrap franchise system and let TfL control London commuter routes, says rail industry April 29, 2019 The rail franchise system should be scrapped and responsibility for commuter routes handed from central government to local authorities such as Transport for London (TfL), the rail industry has said. The Rail Delivery Group (RDG), which represents the industry, has today unveiled its proposals for the Williams rail review, which transport secretary Chris Grayling called last [...]
Airbus and Boeing set for record-breaking year despite turbulence in the sector April 29, 2019 The world’s biggest aeroplane manufacturers are on course for another record-breaking year, new figures show, despite industry turbulence. Airbus and Boeing delivered 311 planes to customers in the first three months of 2019, one more than the same period last year, ADS said today. Read more: Senior warns Boeing's 737 Max groundings will hit profits The trade [...]
The worst may still be yet to come for Boeing, after it takes a $1bn revenue hit from 737 Max disasters April 25, 2019 Describing Boeing’s past two months as “turbulent” is both a cliche and an understatement. It's found itself at the centre of not one but two aerospace disasters and its mighty brand now risks becoming synonymous with aviation risk. This is intensely dangerous territory for the world's largest commercial aircraft manufacturer. Worse still, as Boeing's boss [...]
City Moves for 25 April 2019 – Who’s switching jobs at the Economist Group, Gumtree and Oasis? April 25, 2019 Today's City Moves includes the Economist Group, Gumtree and Oasis. The Economist Group The Economist Group has announced that Lara Boro will become its new chief executive. Lara joins from Informa, where she is currently chief executive of Informa Intelligence. She will take up the position later this year, when Chris Stibbs, the current chief [...]
North Sea explorers get boost as US clamps down on Iran oil exports April 23, 2019 Toughened sanctions against Iran helped push up oil prices over the weekend, lighting a fire under London-listed exploration companies today. The cost of international standard Brent crude has risen 2.9 per cent over since Friday, hitting $74.68 per barrel – its highest point since October. Read more: FTSE 100 climbs to fresh six-month high as [...]
Central London office space under offer climbs April 22, 2019 Fresh evidence of demand for Central London offices has emerged today, with new data showing a rise in year-on-year commercial space under offer in the City and West End. Read more: IWG shares surge after £320m Japanese franchise deal Roughly 3.7m square feet (sq ft) of office space was under offer during the first three [...]