BA in record £531m loss as new strike looms May 21, 2010 BRITISH Airways has reported a record annual loss of £531m. Lower passenger numbers and the impact of strike action contributed to the bleak figures. The results – the worst since BA was privatized in 1987 – were issued as BA faces 15 more days of strike action by cabin crew after the High Court overturned [...]
HOW THE AGREEMENT AFFECTS THE CITY May 20, 2010 BANKING • The coalition has agreed to impose some kind of levy on the banking industry, although its exact form has yet to be decided. The Tories want to introduce a fee on banks’ wholesale funding, while the Liberal Democrats would prefer a tax on profits. • There is a vague commitment to tackle “unacceptable [...]
Unite claims victory in BA court ruling May 20, 2010 A STRIKE threatened by British Airways (BA) cabin crew is to go ahead after the Appeals Court yesterday overturned an earlier decision that ruled the strike unlawful. After two days of hearings, the Court ruled in favour of Unite on the grounds that the union had fairly and openly balloted staff dismissing BA’s original claim [...]
THE TIPSTER May 19, 2010 THE airline that once billed itself as the world’s favourite is set to report fourth quarter results on Friday, but it has hardly been an upbeat few months for British Airways. Although these profit figures will not include the disruption caused by the volcano in Iceland, the carrier has been mired in an industrial dispute [...]
Court decision on BA’s strike plan hit by delay May 18, 2010 BRITISH Airways (BA) passengers are still in the dark over the continuing threat of a cabin crew strike after the Court of Appeal delayed making a decision on Unite’s challenge of Monday’s decision. Unite launched the appeal yesterday morning after the High Court brandished the possible crew strike unlawful on the grounds that the union [...]
Airlines adopt new ash rules May 18, 2010 AIRLINES breathed a sigh of relief yesterday as the Civil Aviation Authority (CAA) overhauled ash restriction regulations, allowing a return to regular operations. The CAA had been under intense pressure from a number of commercial airlines over continual flight bans issued over UK airspace as a result of the volcanic eruption in Iceland. As of [...]
CITY PHILANTHROPISTS LURED BY PROMISE OF SOME GOLDEN EGGS May 18, 2010 OFF to the Merchant Taylors Hall on Threadneedle Street yesterday for what has become a stalwart of the City’s calendar – the annual Gulls’ Eggs lunch. This year marked the 22nd anniversary of the affair, which has traditionally used the excuse of what must be the shortest season of any earthly foodstuff to bring hundreds [...]
Triesman departure sparks FA scramble May 18, 2010 A MASS scramble has begun to land the job of the most powerful man in English football following Lord Triesman’s resignation as chairman of the Football Association on Sunday. Triesman stepped down both from the FA and as chairman of England’s 2018 World Cup bid after he was secretly recorded telling a friend that Spain [...]
BA halts strike in court victory May 17, 2010 BRITISH Airways (BA) last night won an eleventh-hour reprieve in its bid to stop cabin crew from walking out, after the High Court granted an injunction on grounds that the strike was unlawful. The judgment ruled that Unite, the union representing cabin crew, did not communicate ballot results to members, meaning the strike – which [...]
Dame Clara and Lord Marshall to be Nomura’s first non-Japanese directors May 17, 2010 NOMURA has nominated business grandees Dame Clara Furse and Lord (Colin) Marshall to join the group board, the first non-Japanese candidates to be proposed as directors. The appointments will be put to the shareholder vote at a general meeting of the bank next week. Marshall, the former chairman and chief executive of British Airways and [...]