Greece extends ban on flights from UK June 29, 2020 The Greek government has extended a ban on direct flights from Britain until 15 July, amid fears the rate of infection in the UK could spring up as lockdown measures are lifted. Brits had strong hopes that summer holidays to Greece would be given the green light this week, as so-called air bridges with European [...]
Virgin Atlantic seeks up to £900m in rescue bid after coronavirus turbulence June 28, 2020 Embattled airline Virgin Atlantic is looking to raise up to £900m in a last-ditch rescue bid days after it said it was unlikely to secure a government bailout. The carrier, founded by Sir Richard Branson in 1984, has beefed up its original £750m cash call amid forecasts for an extended recovery period for the aviation [...]
Ryanair boss Michael O’Leary calls on EU to block KLM bailout June 26, 2020 Ryanair boss Michael O’Leary has called on the European Union to block a €3.4bn (£3.1bn) rescue package for the Dutch wing of Air France-KLM. In a statement, O’Leary said: “We call on the European Commission to block this subsidy doping to KLM, which will further reduce competition and consumer choice in the Dutch and French [...]
Quarantine rules set to be relaxed for some countries from July June 26, 2020 Environment secretary George Eustice has confirmed the UK is considering relaxing its blanket quarantine measures to allow travel from countries with a lower risk of contracting coronavirus. Ministers are currently finalising the plans, with an announcement on the matter expected on Monday. Speaking to the BBC, Eustice said: “I know that (transport secretary) Grant Shapps [...]
Shareholders back German government bailout to rescue Lufthansa June 25, 2020 Lufthansa shareholders have overwhelmingly backed a €9bn (£8.1bn) bailout by the German government in a last-ditch rescue bid for Europe’s largest airline group, as the coronavirus crisis continues to batter the travel sector. More than 98 per cent of shareholders voted in favour of the rescue package in a virtual extraordinary general meeting today, chairman [...]
Crypto AM’s community play their part in the war against COVID-19 June 25, 2020 Ever since the Crypto AM Awards 2020 on the 11th March and the subsequent lockdown enforcement, it was clear that the new normal required new and lateral thinking with the government’s clarion call for support in the war against the coronavirus COVID-19. Now, months later, I reached out to Crypto AM’s global community to hear [...]
Easyjet raises £419m through share placing to bolster finances June 25, 2020 Low-cost carrier Easyjet today announced that it had raised £419m through a share placing in order to help it withstand the coronavirus pandemic. In total, the budget airline placed 59.5m ordinary new shares – 15 per cent of the firm’s existing share capital – at a price of 703p per share. The placing price represents [...]
British Airways must follow rules when it comes to job cuts, ministers warn June 24, 2020 The transport secretary has warned British Airways (BA) that it must follow the rules when it comes to making sweeping job cuts, saying he is “very, very concerned” about the 12,000 roles set to be made redundant. BA has come under heavy fire in recent weeks over its decision to make the cuts, with many [...]
FTSE 100 finishes in the red amid second wave concerns June 22, 2020 The FTSE 100 has started the week on the back foot amid growing concern over a second wave of coronavirus infections. As markets opened, the index fell 0.94 per cent to begin the day in the red at 6,233.28 points. However, the FTSE 100 trimmed some of its losses to finish 0.76 per cent down [...]
JD Sports-owned Go Outdoors on brink of administration, with 2,400 jobs on the line June 21, 2020 Go Outdoors is said to be teetering on the brink of collapse, after the JD Sports-owned retailer was reported to be calling in administrators. JD Sports has lined up Deloitte as administrator to the company, which employs about 2,400 people across 67 stores, according to reports. Go Outdoors, which sells bikes, tents and waterproof clothes, [...]