BAA halves losses, but traffic falls July 28, 2010 AIRPORT operator BAA has narrowed its losses despite passenger numbers taking a hit from British Airways’ (BA’s) cabin crew strikes and the Icelandic volcano. The group, owned by Spanish infrastructure firm Ferrovial, halved its pre-tax losses during the first half of the year from £545.7m in 2009 to £279.7m, helped by lower one-off charges. BAA, [...]
THE TIPSTER July 28, 2010 AFTER an impressive run from 755p at the beginning of the month Antofagasta has managed to just pop above the 1,000p level but it looks like it might have just run out of steam leaving it unable to break the earlier high of the year, of 1,088p. Worldspreads’ current price for Antofagasta is 988p-991p. Despite [...]
BAA halves losses July 28, 2010 AIRPORT operator BAA halved its first-half losses, helped by lower one-off charges, as passenger numbers fell 4.5 per cent on disruption caused by a volcanic ash cloud and strikes by British Airways staff. BAA, which is owned by Spain’s Ferrovial, said its pre-tax loss narrowed to £279.7m as revenues climbed 2.2 per cent to £957.6m. [...]
Unite to sue British Airways over removal of employee travel perks July 26, 2010 UNITE, the trade union representing 11,000 British Airways (BA) cabin crew, will launch a legal attack over the airline’s removal of travel perks from striking staff. The union said yesterday it believed BA management was “breaching European human rights legislation” when it cut travel concessions from cabin crew in March. BA and Unite have been [...]
The ex-Goldman man bringing his banking skills to the Olympics July 26, 2010 AS far as many people are concerned, ex-Goldman Sachs banker Paul Deighton has quite possibly the best job in the world. Today he’s precisely two years away from organising the most prestigious sporting event in the history of mankind, the Olympic Games. And so far it’s going swimmingly well, he says. And he’s still in [...]
Eurostar sees ash cloud help lift revenues July 22, 2010 ICELAND’S volcano Eyjafjallajokull significantly bolstered Eurostar’s business after the high-speed European train operator carried 100,000 more passengers during the first half of the year pushing revenue up by 18 per cent. Additional passengers looking to avoid air travel during the last six months boosted Eurostar’s revenue to £404m. Eurostar saw passenger numbers climb six per [...]
US officials give BA the go ahead to fly alongside AA July 21, 2010 BRITISH AIRWAYS’ (BA) shares took off yesterday on news that US officials have given its transatlantic partnership with American Airlines (AA) the green light. A nod from the US Department of Transport (DOT) was the last hurdle for the airline after receiving approval from European regulators last week. The approval means the two airlines, along [...]
London breaks five days of losses on strong US earnings July 21, 2010 BRITAIN’S leading shares broke a five-day losing streak yesterday after upbeat corporate earnings from the US and positive mergers and acquisitions sentiment spurred a rebound, led by banks and commodities. The FTSE 100 closed up 75.18 points, or 1.5 per cent, at 5,214.64, having shed 2.5 per cent over the previous five sessions. UK Banks [...]
BA given approval for transatlantic tie-ups July 21, 2010 BRITISH Airways has been given the green light approval to operate a joint business on transatlantic flights with American Airlines and Iberia. The US Department of Transportation gave the airlines the go ahead. BA and its partners will co-operate commercially on flights to the US, Canada and Mexico from the EU, Switzerland and Norway. BA [...]
Crew reject BA pay offer July 20, 2010 BRITISH Airways is facing the prospect of further strikes after cabin crew staff yesterday rejected a new pay offer made by the airline. Just under half of the 11,000 registered members of Unite, the union representing the crew, voted on the pay package with 3,419 standing against the offer, while 1,686 favoured it. BA called [...]