Fewest cars produced in January since 2009 February 26, 2021 Last month saw the weakest January for car production since the financial crisis as a combination of the pandemic and global supply issues knocked the industry. Just 86,052 cars were built last month, down 27.3 per cent year on year, and the lowest number since 2009. It also marked the 17th straight month of declining [...]
British Airways owner IAG swings to €7bn loss as Covid-19 decimates travel industry February 26, 2021 British Airways owner IAG swings to €7bn loss as Covid-19 decimates travel industry
Norwegian Air posts £1.1bn loss as restructuring process goes on February 26, 2021 Beleaguered Norwegian Air today posted a loss of 12.8bn Norwegian crowns (£1.1bn) as the carrier continues its bid for survival through restructuring. The airline said that just 15 of its 131 aircraft were operating flights in the final quarter, mainly flying domestic routes within Norway. It carried just over 500,000 people during the period, down 92 per cent [...]
Ireland’s Aer Lingus appoints IAG Cargo head as new CEO February 25, 2021 Aer Lingus secures IAG Cargo head as it's new CEO after fighting for survival during the pandemic
Rio Ferdinand invests in ‘Spotify of overseas payments’ app Sokin February 25, 2021 Former England footballer Rio Ferdinand is dipping his toe into the fintech world investing in a new overseas payments app launching this summer. He spoke to City A.M. about why the partnership with Sokin is in large part because of his experiences through childhood and what he’s learned about investment. The ‘Spotify of payments’ Sokin, [...]
British Airways owner IAG: What to expect from the airline group’s earnings February 24, 2021 At last, a crack of light. That was the response of most airlines to Boris Johnson’s suggestion that air travel could get going in earnest from 17 May after a full year of grounded planes and sweeping cuts to jobs and routes alike. Expect this future to be fully in focus on Friday, when airlines [...]
US tech sell-off continues as markets tumble for a second day February 23, 2021 Markets in the United States tumbled today, as a tech stocks in the US were hammered by a sell-off. The Dow Jones Industrial Average fell 0.06 per cent at the open, the S&P 500 fell 0.5 per cent and the Nasdaq Composite took the biggest hit, dropping two per cent. Large companies like Apple, Amazon [...]
Brits rush to book holidays in hopes of end to travel restrictions February 23, 2021 Brits rushed to book holidays overnight after Boris Johnson yesterday raised the prospect of international travel restarting in time for the long summer break. According to the government’s roadmap for ending lockdown, international travel could start on 17 May at the very earliest. The announcement triggered a surge in bookings, with budget carrier Easyjet reporting [...]
Air Partner takes home £11.5m from Covid-related services despite travel restrictions February 22, 2021 While most flights were grounded, aviation group Air Partner has enjoyed a profitable year, taking home £11.5m due to its ferrying of PPE throughout the pandemic. The strong profits followed the group’s buy-up of CHS Engineering (CHS) at the end of 2020, which brough new consultancy services and baggage system testing ahead of new rules [...]
British Airways boosted by £2.4bn loan and pensions deal as travel restrictions keep flights grounded February 22, 2021 British Airways boosted by £2.4bn liquidity raise as travel restrictions keep flights grounded