Heathrow boss: Aviation sector can’t bank on soaring demand continuing into winter July 31, 2023 The aviation sector should not bank on soaring demand continuing, the boss of Heathrow airport has warned, amid concerns that airlines could struggle after summer without corporate travels’ sustained recovery. “We all want to make the most of the demand while it’s here but we can’t bank on it continuing,” long-time chief John Holland-Kaye told [...]
The Notebook: Andy Silvester on suppressed British success stories, why Global Airlines could raise the game and Bazball July 31, 2023 Where the City’s movers and shakers get a few things off their chest. Today, City A.M. editor Andy Silvester takes the pen British cynicism can mean we overlook our success stories Heading east out of the City towards the Strand one passes the ugly, brutalist facade of King’s College London, nobody’s idea of an architectural [...]
Explainer: Why are plane tickets so expensive? July 28, 2023 Have you recently found yourself making an Excel spreadsheet of flights prices for a summer holiday, or trying to strategise how to book flights for that international trip like it was a game of chess? If you have, that’s because flying has become more and more expensive over the past year. The owner of British [...]
FTSE 100: London markets mixed as rate jitters soften Standard Chartered’s boost July 28, 2023 The FTSE 100 had a subdued start to the day as interest rate jitters rippled across the Atlantic and weighed down the boost of Standard Chartered and British Airways owner IAG.
British Airways’ owner IAG commits to investing record profit of £1.1bn July 28, 2023 The parent company of British Airways made a record operating profit between January and June, it has announced. International Consolidated Airlines Group (IAG) said its operating profit in the first half of 2023 reached 1.3 billion euros (£1.1 billion), up from a loss of 446 million euros (£383 million) in the same period last year. [...]
Investors prepare to see if British Airways owner will soar this summer July 26, 2023 British Airways owner IAG is set to report its half year results this Friday, amid what is widely touted as the most important summer for airlines in years. Aviation has experienced an extraordinary boom in demand over the last six months as it enters the first truly restriction free, high volume period since before the [...]
Heathrow narrows losses but blames CAA price cap for staying in the red July 26, 2023 Heathrow Airport said on Wednesday it remained loss making in the first half of 2023 despite soaring passenger figures, blaming a cap on the amount it can charge airlines for using the hub. For the six months to June, the west-London hub saw adjusted pre-tax losses halve to £139m but said that the airport “remains [...]
HSBC and other sponsors not to blame for Emma Raducanu’s decline, insists agent July 25, 2023 Emma Raducanu’s agent has rejected suggestions that a swathe of money-spinning sponsorships including HSBC and Vodafone have held her back since her sensational 2021 US Open triumph. The British tennis player’s Grand Slam title brought her a swathe of deals with brands also including Dior, Porsche, British Airways and Nike which earned her £22m last [...]
Gatwick Airport: Almost 1,000 staff to strike for eight days bringing summer travel chaos July 14, 2023 Gatwick Airport baggage handlers and check-in staff will stage eight days of strikes from later this month in a dispute over pay. The announcement comes after the Unite members had backed walking out in a ballot. Unite said workers will strike for four days beginning on Friday 28 July ending on Tuesday 1 August, then a further [...]
Global Airlines to focus on business travel as it muscles in on UK-US route July 13, 2023 A new airline has said it will focus on business travel, offering more perks and products, as it looks to muscle in on the transatlantic travel market. “As far as I see it I don’t think that anyone’s really offering the complete package to a corporate traveller, who would be going across the pond,” James [...]