Ryanair will ask for IAG divestments in €1bn Air Europa deal November 4, 2019 Ryanair boss Michael O’Leary is ready to ask competition regulators to intervene in British Airways owner IAG’s purchase of Air Europa, he said today. IAG is primed to buy the Spanish airline for €1bn (£860m) but O’Leary said he will ask the Competition and Markets Authority (CMA) to force the firm to make divestments to [...]
What Thomas Cook’s collapse tells us about the power of disruption November 4, 2019 Whilst the failure of UK holiday firm Thomas Cook was sudden and a considerable shock to many, the writing has been on the wall for some time now. Driven by technology and specifically by the advent of online booking and reservation systems, the travel industry has long been undergoing a radical transformation across each of [...]
British Airways owner IAG pays €1bn for Air Europa November 4, 2019 British Airways’ parent company, IAG, has reached a €1bn deal to acquire rival Air Europa in a bid to bolster its presence in the South Atlantic. The deal means IAG can turn its Madrid hub into “a true rival” to the four European hubs of Amsterdam, Frankfurt, Heathrow and Paris Charles De Gaulle airports, the [...]
UK firms urged to review reward schemes October 20, 2019 British companies should reconsider their use of long-term incentive plans in favour of restricted share awards, according to recommendations by a management think-tank. Long term incentive plans are designed to boost performance, however the system has faced criticism as the rewards are often not tied to a company’s share price. Read more: Berkeley Group faces [...]
Will the buyout of Thomas Cook’s 555 high street stores take off? October 9, 2019 At 11.53pm on Tuesday night, the directors of family-owned Sunderland-based holiday firm Hays Travel clinched what is surely the biggest coup of their careers: buying Thomas Cook’s entire collection of high street stores. They appear to have timed their move well. Although owners John and Irene Hays wouldn’t tell reporters the price yesterday, they have doubtless [...]
Easyjet share price dips despite profit on track to hit £430m October 8, 2019 Easyjet today predicted it will hit upper profit guidance of up to £430m for its full year, despite rising costs. The airline said profits would hit between £420m and £430m in profit before tax in a trading update today, just off its £440m upper range prediction. Read more: COO comes in as Easyjet hails ‘robust’ [...]
British Airways lost 300,000 passengers in September amid pilot strikes October 7, 2019 British Airways lost more than 300,000 passengers throughout September, as recent strikes forced it to cancel more than 2,000 flights. The airline suffered an eight per cent decline in passenger numbers last month to 3.85m people. Read more: IAG issues profit warning after British Airways strikes That was down from 4.19m during the same period [...]
Ryanair ‘saving millions’ in unclaimed compensation October 4, 2019 Ryanair quit an aviation complaints body after being forced to pay more than £3.6m in handling fees and compensation last year. The move could save the budget airline millions but may cause problems for passengers trying to claim money back for flight delays or cancellations. Read more: Ryanair threatening to remove pilot perks over strikes [...]
Sun, sea and skint Spaniards: Spain plans up €300m tourism rescue package after Thomas Cook collapse October 3, 2019 Spain is preparing a $300m rescue package for its tourism industry, after the collapse of Thomas Cook is said to have left bars deserted and beaches empty at its holiday hotspots. The country’s tourism minister said the cash would be split across 13 different measures, including a credit line for companies struggling to cope. Read [...]
Ryanair boss Michael O’Leary says package holiday market ‘is over,’ weeks after Thomas Cook collapse October 1, 2019 Ryanair’s chief executive has taken a swipe at the package holiday industry, weeks after the firm that effectively founded it, Thomas Cook, went bust. Michael O’Leary, the budget airliner’s longstanding and often outspoken boss, said the market “is screwed, it’s over”. Read more: FRC watchdog probes EY audit of Thomas Cook accounts Ryanair cut its [...]