Michael O’Leary slams ‘illegal’ Lufthansa state bailout May 26, 2020 Ryanair’s chief executive Michael O’Leary has this afternoon challenged German carrier Lufthansa’s €9bn state bailout, labelling the rescue package ‘illegal’. In a statement, the low-cost airline’s boss said that the aid would enable Lufthansa to engage in below-cost selling which would “massively distort competition”. He said: “Ryanair will appeal [to the European Commission] against this [...]
Airline stocks rise on lockdown hopes and Lufthansa bailout May 26, 2020 Airline stocks were among the best performers on the FTSE 100 this morning as investors were cheered by further easing of lockdown measures and Lufthansa’s rescue deal. On Monday Germany agreed a €9bn lifeline for Lufthansa, agreeing a bailout plan which gives the government a veto in the event of a hostile bid. The German [...]
UK set to introduce £1,000 fines for travel quarantine breaches May 22, 2020 The UK is today set to introduce a 14-day quarantine for overseas travellers backed up with £1,000 fines to help stop the spread of coronavirus. The move comes despite opposition from airlines who have argued it will devastate their already struggling industry. The government is expected to announce that all international arrivals will be required [...]
Easyjet to restart flights from 15 June, passengers to wear face masks May 21, 2020 Easyjet today committed to restarting some domestic flights from 15 June, with all passengers and crew required to wear face masks. The budget airline will resume a “small number” of flights mainly on domestic routes in the UK and France where “there is sufficient customer demand to support profitable flying”. Easyjet said it plans to [...]
The City View: From higher taxes to getting tough with China, how the pandemic will change politics, with Juliet Samuel May 19, 2020 In this episode Christian is joined by Daily Telegraph columnist Juliet Samuel, who believes that the current crisis will lead to big changes in politics and economics. Subscribe to The City View Podcast: Apple / Google / Spotify / RSS Juliet says the case for higher taxes on the rich will be made with growing force over the coming years and warns [...]
Government considering ‘air bridges’ to countries with similar Covid-19 infection rate May 18, 2020 Transport secretary Grant Shapps has confirmed that the government is considering “air bridges” between the UK and other countries with a low coronavirus infection rate, potentially cutting out the need to quarantine all arrivals. Last weekend Prime Minister Boris Johnson announced that all incoming travellers to the UK would have to be quarantined for 14 [...]
FTSE 100 breaks 6,000 barrier as vaccine hopes and Fed pledge boost markets May 18, 2020 The FTSE 100 broke through the 6,000-point milestone in a positive start to the week’s trading today, buoyed by hopes of a vaccine and more Federal Reserve stimulus. Easing lockdowns and lower infection rates in Europe infection hotspots Italy, the UK and Spain also boosted London’s blue-chip index. The FTSE 100 closed 4.5 per cent [...]
Government to review 14-day quarantine plan every three weeks May 18, 2020 The government will review its 14-day quarantine measure for incoming travellers to the UK every three weeks, the prime minister’s spokesman has said. Speaking at a briefing for journalists, the spokesman said: “Any changes brought in will be subject to a rolling review every three weeks to ensure they are in line with the latest [...]
Ryanair cuts 2021 traffic target again over coronavirus, but boosts profit May 18, 2020 Ryanair has slashed its passenger traffic target by another 20 per cent for 2021 as it recorded a 13 per cent rise in profit after tax for its latest full-year. The budget airline revealed the profit jump today but warned it may pull out of some of Europe’s airports over coronavirus travel bans. Michael O’Leary’s [...]
Virgin Atlantic won’t fly until August under proposed quarantine measures – report May 15, 2020 The government’s plans to implement a 14-day quarantine period on incoming travellers to the UK would prevent Virgin Atlantic from resuming passenger flights until August. A source at the airline told Reuters that if the initiative, which was announced on Sunday, was approved, it would not be able to fill its aircraft. It said: “If [...]