Here’s what Richard Branson’s new supersonic passenger aircraft will look like November 16, 2016 Sir Richard Branson has unveiled the prototype of his supersonic passenger aircraft, and it's pretty snazzy. The Virgin Group founder has teamed up with US startup Boom to build a new generation of supersonic jets which will deliver 3.5 hour flights from London to New York for an "affordable" $5,000 return. It will bring in [...]
Government to prioritise market access as it moves to dispel cloud of uncertainty hanging over airlines post-Brexit vote November 14, 2016 The government has moved to reassure the airline industry over market access after the Brexit vote, saying it remained a priority. It wants to make sure the UK has "liberal access to European aviation markets". Brexit secretary David Davis, transport secretary Chris Grayling and Tim Alderslade, the chief executive of Airlines UK, released a joint [...]
Flybe profits tumble after share price nosedived to an all-time low this week November 9, 2016 Half-year results for Flybe showed a slump in profits as it feels the effects of a falling pound, but chairman Simon Laffin is doing his best to find the positives. The figures There was a 12.8 per cent rise in group revenue to £383m thanks to higher passenger volumes in Flybe UK and increased revenue in [...]
BP and Oman Oil Company get sign-off to extend licensing area in giant Khazzan tight gas field November 8, 2016 BP and Oman Oil Company have signed an agreement with the government of Oman to extend their licensing agreement in Oman's huge Khazzan gas field, paving the way for a second phase of development at the site. The amended exploration and production sharing agreement adds more than 1,000 sq km to the south and west of the [...]
British Airways is going to squeeze an extra 52 seats onto its Boeing 777 economy flights November 7, 2016 British Airways is adding an extra 52 seats to its Boeing 777s at Gatwick from 2018 as it seeks to stay competitive. It also plans to look into its aircraft at Heathrow following that. BA currently has nine economy seats in each row of its 777 fleet, from 2018 that'll go up to 10 (even though [...]
At the close: FTSE 100 trembling ahead of US election week November 4, 2016 By this time next week Donald Trump could be President of the U.S.A. And the uncertainty has seen the FTSE 100 feel the impact. It fell by over 1.4 per cent by the close as the election jitters take hold of traders. Healthcare stocks, which are particularly sensitive to developments in the presidential race, were hit. Hikma Parmaceuticals [...]
EasyJet and Norwegian passenger numbers soared in October November 4, 2016 EasyJet said passenger numbers rose 6.9 per cent last month, but the load factor dropped, while Norwegian reported 16 per cent growth for the month. The low-cost giant said passenger numbers rose 6.9 per cent to just over 6.84m, but the load factor was down from 93.3 per cent to 90.2 per cent. On a rolling 12-month [...]
British Airways owner IAG cuts spending and earnings targets November 4, 2016 International Airlines Group (IAG), the company behind British Airways, Iberia and Aer Lingus, said today it is trimming its spending and earnings targets in the run-up to 2020 – shortly after it posted a fall in profits. The airline operator said although it has a strong balance sheet, it expects earnings before interest, taxation, depreciation, [...]
Inmarsat’s share price flies up 10 per cent after releasing starry-eyed results November 3, 2016 Shares in satellite group Inmarsat reached for skies today after revealing better than expected third quarter results. The group's aviation division grew revenues by 10 per cent to $36m (£29m) having been boosted by mopping up contracts with some of Europe's largest airlines. These included an agreement with British Airways to provide wifi on its short haul [...]
Monarch has cancelled all UK flights to Sharm el-Sheikh as British Airways and easyJet flights stay suspended November 3, 2016 Monarch has suspended all flights between the UK and Sharm el-Sheikh indefinitely as security concerns continue. Monarch said it was cancelling flights and holiday bookings “for the foreseeable future”. “With no indication from the government as to when the airport will re-open flights from the UK, the airline is cancelling all flight and bookings for winter 2016-17 [...]