US stocks and FTSE 100 tumble as fears of second wave intensify June 15, 2020 The FTSE 100 faltered in afternoon trading, while US stocks sunk into the red as traders remained wary of a second spike in coronavirus infections. London’s blue-chip index opened down 2.05 per cent to 5,980 points, even as retailers began to open their doors for the first time in three months. US stocks dropped sharply [...]
Easyjet resumes flights with social distancing measures in place June 15, 2020 Easyjet took to the skies for the first time in 11 weeks, as it resumed domestic flights with social distancing measures in place. The budget airline will relaunch 310 flights across its European network, as its first flight took off from London Gatwick at 7am this morning for Glasgow. The majority of flights this month [...]
MPs label British Airways a ‘national disgrace’ over job cuts June 13, 2020 MPs have condemned British Airways, calling the embattled carrier a “national disgrace” over its plans to make 12,000 of its staff redundant. In a report from the transport select committee, MPs described the airline’s actions as a “calculated attempt to take advantage of the pandemic to cut 12,000 jobs and to downgrade the terms and [...]
FTSE 100 inches into green despite record plunge in UK GDP June 12, 2020 The FTSE 100 closed 0.23 per cent up on Friday, having spent most of the session inching higher despite data showing the British economy suffered the largest contraction on record in April. While the blue-chip managed to shake a four-session decline, it remained on track for its worst weekly drop in around three months. Cyclical [...]
British Airways, Ryanair and Easyjet launch quarantine legal action June 12, 2020 The UK’s three largest airlines have today launched legal action against the government’s plan to make all incoming travellers to the UK quarantine for 14 days. Rivals British Airways, Ryanair and Easyjet have come together to see a legal review of the plan as soon as possible. In a joint statement, they said the measures [...]
Ryanair set for net loss as quarantine legal action launches June 12, 2020 Ryanair is on course to book a loss to €200-€300m (£179m-£269m) in this financial year, chief Michael O’Leary has told a Spanish newspaper. Speaking to Expansion, O’Leary added that he expected the budget carrier to return to profitability next year. He said: “Everything will depend on how people will fly between September and March and [...]
US stocks and FTSE 100 plunge after Fed’s long recovery warning June 11, 2020 The FTSE 100 suffered its worst daily drop since late March, with US stocks plunging into the red after the Federal Reserve effectively crushed hopes of a quick recovery. London’s blue-chip index closed down 3.99 per cent after crashing as much as 2.66 per cent this morning. And US stocks also crashed, with the Dow [...]
Tui pushes back holiday restart plans to 10 July due to quarantine June 11, 2020 Holiday firm Tui announced today that it would cancel all beach holidays for British tourists up to 10 July due to uncertainty over the government’s quarantine rules. The tour operator had previously planned to restart its holidays at the beginning of July, but said that the requirement for all travellers to England to quarantine for [...]
Scottish MP submits bill to block BA’s ‘fire and rehire’ plans June 10, 2020 SNP MP Gavin Newlands has submitted an emergency bill to the House of Commons which would prevent firms using controversial “fire and rehire” tactics on their employees. The decision to bring forward the bill comes after it was claimed that British Airways (BA) was planning on making all 42,000 of its staff redundant and then [...]
Corporate travel firms call for business air bridges to avoid quarantine June 10, 2020 The UK’s business travel sector has called on the government to create industry-specific air bridges to European business hubs in order to sidestep the current 14-day quarantine plan. In a letter to home secretary Priti Patel and transport secretary Grant Shapps, Clive Wratten, chief executive of the Business Travel Association, proposed three pilot travel corridors [...]