FTSE 100 jumps after global sell-off as pound slides September 7, 2020 The FTSE 100 and European stocks rose sharply as investors recovered their poise after a sharp sell-off in global stocks last week, with a falling pound boosting London’s blue-chip index. The FTSE 100 extended its morning rebound and was trading 2.46 per cent higher in afternoon trading. London’s FTSE 250 index of smaller firms also [...]
Aviation support package ‘cannot come soon enough’, MPs warn September 7, 2020 A group of MPs has warned that the government’s aviation recovery plan “cannot come quick enough” as the stricken industry heads into the winter season weighed down with uncertainty over its future. This morning, the government revealed that it would unveil its plan to get the UK aviation industry back onto its feet over the [...]
Everybody loves a comeback and London’s could be glorious September 7, 2020 Given the amount of time we’ve spent in front of our TVs over the past few months, you’ll have no doubt seen the Government’s Brexit commercial which tells us to get prepared and get going for the UK’s new start. It ends, rather beautifully, with an aircraft taking off, presumably full of representatives from Britain’s [...]
British Airways and Heathrow in row over £500m charge for failed expansion plans September 6, 2020 Heathrow and British Airways (BA) have become embroiled in a row over a proposal to charge airlines £500m for the airport’s failed expansion plans. A consultation recommends allowing the airport the bill airlines for costs related to the third runway incurred until February this year. The plans to build a third runway at Heathrow were [...]
FTSE 100 slides as pound surges but US stocks continue to rise September 1, 2020 The FTSE 100 slumped as the pound soared, but the relentless rise of the big US tech companies continued on a choppy day’s trading. London’s blue-chip stock index slid 1.8 per cent to stand at 5,859 points in afternoon trading. The FTSE 250 index of mid-cap firms shed one per cent. Read more: Asian markets [...]
Wizz Air to fly at 60 per cent capacity in second quarter due to new restrictions September 1, 2020 Low-cost carrier Wizz Air this morning said that it expected to carry 60 per cent of its capacity in the second quarter due to new travel restrictions being imposed as a result of the coronavirus pandemic. In Hungary, the budget airline’s home market, foreign travellers will from today only be able to enter the country [...]
‘Chaotic’ quarantine regime ‘destroying’ economy, says Willie Walsh September 1, 2020 The boss of British Airways’ parent company IAG has accused the government of destroying the economy through its “chaotic approach” to imposing coronavirus quarantine restrictions. Writing in the Times, Willie Walsh said that the “ever-shifting list” of countries requiring travellers to self-isolate meant that the UK has “officially hung up the closed sign”. Walsh’ comments [...]
Norwegian Air says it needs more cash as losses mount August 28, 2020 Norwegian Air was battered by the coronavirus pandemic in the first half, with its pre-tax loss amounting to $544m (4.79bn Norwegian krone or £409m). The airline said it faced “challenging times ahead” as it released its results, and said it needs more cash to see it through Covid-19. The figures Norwegian Air’s fell to a [...]
Gatwick Airport to cut nearly a quarter of its workforce August 26, 2020 Gatwick Airport this afternoon announced that it could cut up to 600 jobs as part of a major restructuring caused by the coronavirus pandemic. The airport is the latest company in the struggling aviation sector to announce such cuts, which account for 24 per cent of its workforce. The sector is one of the worst [...]
Wizz Air plots Gatwick growth despite Covid-19 quarantine rollercoaster August 25, 2020 The boss of Wizz Air remains committed to more flights from London's Gatwick airport