Boeing shares leap on reports the 737 Max could fly again within weeks February 6, 2020 Boeing shares surged more than three percent this afternoon on reports the troubled 737 Max passenger aircraft could fly again within weeks. US Federal Aviation Administrator Steve Dickson said on Thursday international air safety regulators were likely to agree on the design fixes needed to return the Boeing 737 Max aircraft to service. “On the [...]
Sajid Javid’s growth plan unlikely to succeed, says think tank February 6, 2020 Sajid Javid’s plan to double the UK’s economic growth rate has little chance of success, according to a major think tank, as Britain pays the price for weak productivity. Javid has said he wants to boost UK economic growth to around 2.75 per cent by “levelling up” spending across the country. Yet the National Institute [...]
Ryanair misled customers with claims on carbon emissions February 5, 2020 The UK’s advertising watchdog has decided that an advert from Ryanair about its carbon emissions was misleading. The Advertising Standards Authority (ASA) ruled that a press, TV and radio advert, all released in September 2019, wrongly claimed that Ryanair is Europe’s low emission airline. It comes after the UK’s aviation industry made a pledge yesterday [...]
Fresh 737 Max delays hurt Ryanair’s passenger growth target February 3, 2020 Ryanair today warned Boeing 737 Max delivery delays will hurt growth plans as it swung back into profit in its third quarter. Ryanair was expecting its first delivery of the airplane to arrive in spring 2019. But it admitted that will now not happen until September or October 2020. The fresh Boeing 737 Max delivery [...]
Flybe’s planes at risk of being impounded as wait for rescue package goes on February 2, 2020 Embattled Flybe is facing a nervous wait over its potential £100m taxpayer loan amid reports that air traffic controllers could impound the regional airline’s planes. According to mortgage records, many of Flybe’s planes are owned by other firms such as NordLB and Nordic Aviation Capital, who lease them to Flybe to use. The Sunday Telegraph [...]
Listed firms need public flogging January 31, 2020 The £18.5 trillion in assets managed by members of the Investor Forum would cover a fair few shopping trips to Poundland, and buy its parent’s shares hundreds of times over — but will public market shareholders get the chance? That’s one of the questions indirectly prompted by the forum’s latest annual review, which highlights the [...]
Ryanair boss Michael O’Leary calls Flybe a ‘loss-making turkey’ in stinging rebuke to chancellor Sajid Javid January 28, 2020 Ryanair boss Michael O’Leary has issued another sharp rebuke to chancellor Sajid Javid in the wake of the government’s rescue of Flybe, this time saying the UK’s business strategy is “doomed to fail”. In a letter bound to further escalate the row between the two, O’Leary called the struggling regional airline a “loss-making turkey”. He [...]
Flybe: Ministers draft in restructuring advisers on rescue loan talks amid ‘state aid’ row January 27, 2020 Ministers have brought in advisers to help negotiate a government loan to struggling regional airline Flybe, despite insisting the rescue deal will not constitute state aid. Alvarez & Marsal (A&M) has been tasked with advising the Department for Transport (DfT) in assessing the basis for a commercial loan, according to Sky News. The company, a [...]
Flybe looks for another tax delay, weeks after government saves airline January 26, 2020 Flybe is said to have implored airports to give it more time to find millions of pounds it owes them in unpaid landing fees. Europe’s biggest regional airline held crisis talks with airports including Birmingham, Glasgow, Aberdeen and Southampton, according to reports. It is said to be in a race against time to plug a [...]
Javid dismisses Ryanair complaint over Flybe rescue package January 24, 2020 Chancellor Sajid Javid has insisted that embattled airline Flybe has not received state aid to ensure its survival. In a letter to Ryanair chief executive Michael O’Leary, Javid said that the decision to defer Air Passenger Duty (APD) for Flybe was a “standard ‘Time to Pay’ arrangement…because of their short-term difficulties”. The chancellor’s letter, which [...]