BA axes 1,700 cabin crew as losses mount October 6, 2009 BELEAGUERED British Airways yesterday said 1,000 of its cabin staff have agreed to take voluntary redundancy, with another 3,000 moving from full-time to part-time work – the equivalent of 1,700 full-time job cuts. The carrier has been on a massive cost-cutting drive to return to profitability, with chief executive Willie Walsh and finance director Keith [...]
EasyJet passenger numbers take off October 6, 2009 EASYJET, the budget airline founded by Sir Stelios Haji-Ioannou, carried 5.3 per cent more passengers last month than in the same period last year, in the latest piece of data to show budget air travel demand taking off. The orange-crested carrier carried 4.42m passengers in September, up from 4.19m in 2008, and said its load [...]
O’Leary ready for departure October 5, 2009 MICHAEL O’LEARY, the ubiquitous boss of budget airline Ryanair, could stand down within a year, industry experts said yesterday. The news came as the airline dismissed reports that Ryanair could take control of Aer Lingus through a rights issue. “Our position on Aer Lingus was recently confirmed at the Ryanair AGM, which is that we [...]
BA September passenger figures dash hopes of a recovery in aviation sector October 5, 2009 FLAG carrier British Airways (BA) carried 0.8 per cent fewer passengers in September year-on-year, dashing hopes the commercial aviation industry was recovering from the deep slump caused by the global recession. The airline, whose alliance with American Airlines and Iberia is being scrutinised by Europe’s competition watchdog, said yesterday its premium, or business class, passenger [...]
THE TIPSTER BAINTERIMS WILL CLARIFY ITS POSITION October 4, 2009 SHARES in Legal & General fell by more than 5 per cent on Friday after National Australia Bank moved to dampen talk of a takeover bid. The firm’s share price had risen to highs of the year of more than 95p before the fall. Will the price drop lower? ShortsandLongs.com has a rolling spread of [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 1, 2009 FINANCIAL TIMESFORD SELLS AUSTRALIAN LOAN BOOK TO MACQUARIEFord, the US carmaker that underwent a debt-for-equity swap this year to bolster its balance sheet, has quit Australia’s retail car finance market after selling a A$1bn (US$874m) motor loan portfolio to Macquarie Group. The Australian investment bank is expanding its presence in the sector as well as [...]
BA in threat to the Tories September 30, 2009 LOSS-MAKING flag carrier British Airways (BA) yesterday said it would be forced to significantly scale back flights at Heathrow if the government scraps plans to build a third runway at the hub airport. The Conservatives have said they are committed to calling off Labour’s plans for an extra runway at the airport if they win [...]
British Airways begins its fight back September 29, 2009 AIRLINES can still put on a great show, as yesterday’s inaugural British Airways flight from City Airport to New York JFK testified. We were treated to water salutes from firefighters, cheerleaders and champagne on tap. And apart from the fun of flying on a brand new, 32-seater all business class luxury Airbus A318, the exercise [...]
BA’s business-only flights launched at City Airport September 29, 2009 BRITISH AIRWAYS (BA) yesterday launched its premium-class only flights from London to New York, as its chief executive said the route would be profitable within a year. The flight, which comes as passengers shun upper-class flying in a bid to save cash, goes from London City airport, and stops in Ireland. The flag-carrier has traditionally [...]
BA shorthaul is threatened by the downturn September 28, 2009 FLAG carrier British Airways (BA) may be forced to slash some of its short-haul flights to restore earnings, an industry expert has said. “This is an airline that really has to bite the bullet on short-haul, looking long and hard at what it’s costing and whether they can ever get a decent margin out of [...]