Boeing’s Ethiopian Airlines crash fallout: Everything you need to know March 13, 2019 The world's biggest plane manufacturer is up against the ropes. After the second fatal crash of one of a new Boeing plane model over the weekend, fingers are being pointed and whole continents have banned it from entering their airspace. As the fallout for businesses and consumers across the globe continues to ramp up, City A.M. brings you [...]
Rail review head Keith Williams hints at compensation role for regulator March 12, 2019 The former British Airways chief executive tasked with a full-scale review of the railways has hinted that the industry regulator could be tasked with handling compensation claims. Keith Williams, who was appointed by the government to carry out the review in the wake of last year's May timetable chaos, suggested the rail industry could learn from the [...]
UK matches EU offer to protect flying rights in event of no-deal Brexit March 7, 2019 The UK government has said it will match the EU's offer to protect flying rights in the event of a no-deal Brexit, allowing planes to take off unhindered after 29 March. The Department for Transport (DfT) said it had "adopted this approach to provide reassurance and minimise disruption — providing a cushion during which future [...]
‘Turbocharged’ IAG rides out airline storms March 4, 2019 BA owner International Airlines Group continues to impress, helped by a "turbocharged" dividend yield. The British Airways parent International Consolidated Airlines Group (LSE:IAG) has produced an outstanding performance, which is particularly impressive given the difficulties being faced elsewhere in the airline industry. The company has, for some years, been concentrating on driving its business by [...]
Engine maker Rolls-Royce shares fall after pulling out of Turkish fighter jet bid March 4, 2019 Rolls-Royce shares fell two per cent on Monday morning after announcing over the weekend it had scaled back attempts to join a programme to build a new Turkish fighter jet. The engine manufacturing giant had been in talks with Turkey’s Kale Group, but they ran into problems last year because of a dispute over the [...]
Rolls-Royce turbulence finally nearing an end February 28, 2019 On the the face of it, aircraft engine manufacturer Rolls-Royce looks to be stuck on the runway. Shares fell 2.5 per cent yesterday as it reported £2.9bn total losses in 2018. These were largely down to long-running mechanical problems which have grounded one of British Airways’ new Boeing 787 Dreamliner jets at Heathrow airport for [...]
British Airways owner International Airlines Group profits soar February 28, 2019 British Airway’s owner International Airlines Group’s (IAG) profit soared 9.5 per cent last year. The figures Shares lifted two per cent as the group reported that pre-tax profit for the year to the end of December was €3.2bn up from €2.95bn in 2017. Revenue was up 6.7 per cent from €22.8bn in 2017 to €24,4bn last [...]
Government told to publish Govia’s profit cap amid concerns over taxpayers’ money February 26, 2019 The public spending watchdog has urged the government to publish details of Govia's profit cap, citing fears taxpayers' money is not being "adequately protected" after last year's rail chaos. The Public Accounts Committee (PAC), chaired by MP Meg Hillier, said there was a lack of transparency around the profit rate that Govia earns from its [...]
Government should cap Heathrow passenger charges says British Airways owner IAG February 24, 2019 One of the world’s largest carriers has called on the government to cap the amount passengers are charged for travelling through Heathrow. IAG, the owner of British Airways, Iberia and Aer Lingus, hit out at the airport for benefiting its shareholders at the expense of passengers. Read more: Over 80m passengers flew through Heathrow Airport [...]
Pearson to unveil £500m pension insurance deal with Legal & General February 21, 2019 Publishing giant Pearson is set to announce a £500m deal with Legal & General (L&G) in a bid to shore up its pensions liabilities, Sky News reported. The FTSE 100 firm, which specialises in education, will announce the deal tomorrow alongside its annual results, according to the report. Read more: Pearson sells US school textbook [...]