Heathrow’s passenger traffic rockets after end of restrictions November 11, 2021 October’s passenger traffic at Heathrow airport has gone up 144 per cent compared with the same time last year, following the easing of restrictions. Data from the London hub has revealed that last month more than 3 million passenger passed through the airport, delivering the sixth consecutive month of growth. The relaxation of travel rules [...]
BA goes ahead with Gatwick plans following backing from unions November 9, 2021 British Airways (BA) is expected to go ahead with its plans to operate a short-haul subsidiary from Gatwick following accords with trade unions. Luis Gallego, chief executive of BA’s owner IAG, told Bloomberg Television that agreements were reached with pilots and flight attendants, leaving the company to negotiate only with ground staff – a secure enough [...]
BA and rivals cheer return of the $1bn transatlantic route November 7, 2021 The first British tourists and business travellers since the March 2020 Trump White House ban are set to touch down in the US today, in a boost to long-haul airlines such as BA and Virgin Atlantic. The London Heathrow to New York’s JFK airport was said to bring in around $1bn to British Airways pre-Covid, [...]
British Airways shares in descent as it predicts 2021 Covid loss of €3bn November 5, 2021 The owner of British Airways and Iberia, IAG, reported a shrinking €2.6bn (£2.3bn) loss for the first nine months of 2021. However investors dumped IAG shares this morning after it indicated full year losses would still hit €3bn as passenger capacity has been slow to recover. Its lucrative UK-US travel corridor is due to finally [...]
British Airways owner IAG sees losses shrink to €2.6bn as Covid travel restrictions ease – CityAM : CityAM November 5, 2021 The owner of British Airways and Iberia, IAG, reported a shrinking €2.6bn (£2.3bn) for the first nine months of 2021, with passenger numbers slowly returning to the skies. For the third quarter, the airlines group reported an operating loss of €452m compared to € 1.9bn for the same period last year. Also Read: Business travel [...]
British Airways agrees to £1bn committed credit facility November 1, 2021 British Airways (BA) has agreed to a five-year committed credit facility worth £1bn. The agreement – which was announced by British Airways’ owner IAG – was reached between BA, British export credit agency UK Export Finance (UKEF) and a syndicate of banks. The amount is additional to a UKEF guaranteed facility worth £2bn that was [...]
Long-haulers slam APD hike as it “will penalise Global Britain” October 27, 2021 Long-haul carriers have criticised the Chancellor’s decision to increase air passenger duty (APD) rates for flights longer than 5,500 miles. Luis Gallego, chief executive at British Airways’ parent company IAG, said the move “will penalise Global Britain” at a time when the country should be more competitive on the global stage. “We need to get [...]
Role reversal: Why reverse mentoring is a ‘no-brainer’ October 27, 2021 Even before the pandemic, the World Economic Forum was describing reverse mentoring as a ‘no-brainer’. Now, as employers look to establish new working norms, Patrice Gordon CA explains why it could prove business critical. This article first appeared in ICAS’ CA magazine. Accountancy and psychology may seem an odd combination for a degree student. But for [...]
Premier League clubs block Saudi sponsorship deals with Newcastle United October 19, 2021 Premier League clubs have moved to stop Saudi Arabia flooding Newcastle United with big-money sponsorship deals that would allow them to spend freely on transfers. Eighteen of the 20 top-flight teams approved a block on related-party transactions, in which a company that shares the same owner as a club pays it money via a commercial [...]
London markets muted as investors mull Bank of England’s next step October 19, 2021 London markets were muted during the opening session this morning as investors mull whether the Bank of England will hike interest rates next month. The capital’s FTSE 100 index inched down 0.02 per cent to 7,202.55 points during the first hour of trading. Several banking giants yesterday raised their forecasts for when the Old Lady [...]