Grumeti can bounce back from Cheltenham defeat April 11, 2012 AINTREE’S prestigious three-day Grand National meeting gets underway this afternoon and it may be worth finding a TV just after 2pm to watch the remarkable Big Buck’s beat Sir Ken’s (one of the great Champion Hurdlers from the 1950s) unbeaten sequence of 16. Now, Paul Nicholls’ four-time World Hurdle winner is a best-priced 1/4 with [...]
The economics of the airline industry are sheer hell April 10, 2012 AVIATION has changed massively since the era of Pan Am, a byword for style and sophistication in its 1960s heyday. The once besuited passengers have been replaced by an understandably angry mob, fighting to fit their suitcases into fluorescent-coloured over-head cabins. It is out with the caviar and freshly cooked roast beef and in with [...]
Willie Walsh’s bonus cut after Iberia troubles April 4, 2012 WILLIE Walsh picked up a £1.155m pay package for last year but missed out on £1.35m of bonus payments after International Airlines Group (IAG) failed to hit some performance targets. The group chief executive received a base salary of £825,000 and a £302,000 bonus, according to the annual report of the owner of British Airways [...]
UK’s over-taxed public is running out of patience April 1, 2012 EXORBITANT: that is the only way to describe the cripplingly high levels of Air Passenger Duty (APD) now facing everybody flying from the UK. The era of cheap flights which had done so much to make international travel accessible to the vast majority of the public is coming to a sorry end: the tax on [...]
Just two left in bidding war for BAA’s Edinburgh Airport April 1, 2012 THE field of bidders for Edinburgh Airport has narrowed to a straight fight between a group of investors led by JP Morgan and Global Infrastructure Partners (GIP). Their private equity rivals for the asset, 3i and Carlyle, are said to have pulled out of what is expected to be a £500m race for the Scottish [...]
BEST of the BROKERS April 1, 2012 GDF SUEZ UBS rates the energy group “buy” and has a 12-month price target of €23. The broker thinks GDF’s bid for the remainder of London-listed peer International Power has come earlier than expected, although the offer itself is hardly surprising. UBS reckons the offer price of 390p per share is likely to rise, and [...]
Stansted baggage handlers set to strike over Easter weekend March 29, 2012 PASSENGERS using Stansted airport may face travel chaos over the Easter period after baggage handlers voted to press ahead with strike action next weekend. Around 150 employees of Swissport – who provide luggage services to airlines including Ryanair, Monarch and Thomas Cook – are set to strike for four hours on Good Friday, Easter Sunday and [...]
Ryanair hit by setback in claim over payout March 22, 2012 BUDGET airline Ryanair yesterday lost the latest round in its legal battle to avoid paying for hotels, meals and drinks for passengers disrupted by delayed flights during the Icelandic volcano eruption in 2010. The European Court of Justice (ECJ) published an opinion indicating that airlines were not exempt from regulations requiring them to pay for [...]
Planes a priority but passenger levy must stay March 21, 2012 THE CHANCELLOR yesterday signalled his support for more airports or runways in the south east of England – but airlines were left fuming after he again ignored their calls to halt a hike in air passenger duty. George Osborne said the government must “confront” the problem of air capacity, though he shied away from backing [...]
Record-breaking Big Bucks wins fourth World Hurdle March 15, 2012 RECORDS tumbled on day three of the Cheltenham Festival as Big Bucks claimed his fourth World Hurdle crown and equalled the mark for consecutive victories over jumps. The 8-11 favourite stayed on bravely to hold off mare Voler La Vedette and put Paul Nicholls back in the Trainers’ Championship lead. The horse’s triumph brought him [...]