Caviar for breakfast, lunch and dinner: On board the world’s only luxury icebreaker with Alain Ducasse
Caviar for breakfast, lunch and dinner: On board the world’s only luxury icebreaker with Alain Ducasse
Budget airlines primed for land grab as flag carriers face change of flight path February 17, 2021 After nearly a year of intense disruption, one could be forgiven for expecting even Ryanair’s perennially bullish boss Michael O’Leary to be a little downcast about the state of his industry. But despite the near daily cries of anguish issuing from the airlines sector, the Irishman’s eyes are fixed firmly on the future. Speaking after [...]
UK airports launch fresh bid for new government support February 3, 2021 The UK’s airports have today launched a fresh bid for more financial support from the government as the pandemic shows no signs of abating. The Airport Operators’ Association (AOA) today said that it did not expect passenger numbers to recover to pre-Covid levels until 2025 at the earliest. It said that the coming summer needed [...]
Ryanair ‘jab & go’ ads deemed ‘misleading’ by watchdog February 3, 2021 The advertising watchdog has banned Ryanair from airing its controversial “jab & go” advert, in ruling published today. The Advertising Standards Agency (ASA) said it had received 2,370 complaints over the advert – the third most for any single ad. ASA said that the campaign, which encouraged people to book flights with Ryanair after getting [...]
Global business travel to grow a fifth this year February 2, 2021 Global business travel spending will begin to recover this year but will not return to pre-pandemic levels until the middle of the decade. According to the Global Business Travel Association (GBTA), spending will increase 21 per cent this year to $842bn (£615bn). The increase comes after spending fell more than half in 2020 due to the pandemic. The [...]
Eaton buys Cobham air refueling arm for $3bn as Advent sell-off begins February 1, 2021 Engineering firm Eaton today announced that it would buy Cobham’s air-to-air refueling arm for $2.8bn (£2bn). The deal values Cobham Mission Systems at about 14 times its 2020 earnings. US private equity firm Advent bought Cobham last year and proceeded to split it into nine divisions, of which Mission Systems was one. Opponents of the [...]
Ryanair on track for record loss after €306m third quarter hit February 1, 2021 Ryanair this morning plunged to a €306m (£222.6m) loss as the Irish carrier continued to suffer “the most challenging year in its history”. The Irish carrier said that passenger numbers were down almost 80 per cent to just 8m people over the three month period. As a result, it said it was reducing its full [...]
BP sells stake in giant Omani gas project for $2.6bn February 1, 2021 BP has this morning sold a 20 per cent stake in a giant gas field in central Oman to Thailand’s national oil company for $2.6bn (£1.9bn). The oil giant will remain the operator of Block 61, the largest “tight gas” development in the Middle East, with a 40 per cent stake. It said that it [...]
TSB reports losses as pandemic prompts lending surge February 1, 2021 TSB’s full-year financial performance was dented by the coronavirus pandemic as lending rose sharply, the bank announced today. Statutory loss before tax was £204.6m in 2020, compared to a £46m profit in 2019. The losses largely reflects the adoption of government measures in response to Covid-19, as well as unemployment rates and reduced customer spending. [...]
The week ahead, 1-5 February: FTSE heavyweights front up to third lockdown January 31, 2021 After a turbulent opening to 2021, with new Covid-19 lockdowns around the world, spats over “vaccine nationalism”, and chaos on both Wall Street and Pennsylvania Avenue, a slew of FTSE heavyweights are set to update the market in what will be a crunch week for London’s indices. Despite a strong opening week, the FTSE 100 [...]
Travel dreams: Where City A.M. staffers want to visit next January 29, 2021 As we approach the end of yet another month of lockdown, we asked the staff at City A.M. where they want to travel for their first post-coronavirus excursion. From the chilly wilds of Sweden to the neon-soaked streets of Tokyo, let us take you on a meandering journey through the psyche of our journalists. Andy [...]