IAG issues profit warning after British Airways strikes September 26, 2019 British Airways owner IAG today slashed its 2019 profit guidance after recent strikes forced it to cancel more than 2,000 flights. International Airlines Group warned that adjusted operating profit will fall €215m (£190m) below last year’s €3.49bn. Read more: Ryanair threatens to remove pilot perks over strikes, says union It estimated that Balpa’s strike action [...]
Passenger growth at Southend airport helps Stobart Group make ‘considerable progress’ September 25, 2019 Stobart Group has said it is trading in line with expectations and has made ‘considerable progress’ during the first half of the year. The aviation, energy and civil engineering group suffered a bruising boardroom battle last year, resulting in the ousting of former boss Andrew Tinkler. Read more: Eddie Stobart confirms takeover interest from Andrew [...]
Airlines accused of price gouging after Thomas Cook collapse September 24, 2019 Airlines have been accused of exploiting the demise of rival Thomas Cook after passengers complained of a huge increase in prices. Holidaymakers looking to book future trips have complained of a surge in fares on the same routes served by the collapsed travel firm. Read more: Thomas Cook: Former workers will not receive pay packets [...]
Thomas Cook collapse: Assets under the hammer as liquidators move in September 23, 2019 Collapsed airline Thomas Cook will be sold as a whole or in parts after it went into liquidation this morning, the firm’s second largest shareholder has said. Neset Kockar, boss of Turkish holiday group Anex Tour, owned a near-eight per cent stake in the travel giant when it went under. Read more: Tui share price soars [...]
Tui share price soars as rival Thomas Cook bites the dust September 23, 2019 Tui’s share price bumped up almost 10 per cent today after Thomas Cook fell into liquidation. Travel operator Tui saw shares rise just shy of 10 per cent before trimming gains to stand 7.7 per cent up at 903p in early trading as its rival collapsed under the weight of a £1.7bn debt mountain. Read [...]
Ryanair threatening to remove pilot perks over strikes, union claims September 19, 2019 Striking Ryanair pilots have accused the airline of threatening to remove their perks if they take part in this month’s planned walkout. Ryanair pilots who are members of the British Airline Pilots’ Association (Balpa) began their strike action yesterday, which is due to continue on 21, 23, 25, 27, and 29 September. Read more: Ryanair suffers [...]
Ryanair expects to see Boeing 737 Max crash jet back in UK skies by March next year September 19, 2019 Ryanair expects the grounded Boeing 737 Max jet will be back in Britain’s skies by the beginning of March 2020, despite misgivings about such a timetable in Europe. At the budget flyer’s annual shareholder meeting, chief executive Michael O’Leary has told shareholders he expects the jet, which was grounded in March this year after the [...]
Ryanair suffers shareholder revolt over pay report September 19, 2019 Ryanair is in the grip of an investor revolt after half of shareholders voted against a bonus scheme for boss Michael O’Leary that could see him earn £88.56m over five years. Just over 50 per cent of the airline’s shareholders voted for Ryanair’s remuneration report, in which Ryanair was seeking approval for a new long-term [...]
Energy giants’ stocks rise after oil prices soar on Saudi attack September 16, 2019 A major terrorist attack which wiped out half of Saudi oil production and sent oil prices soaring by record amounts has pushed up London’s energy companies this morning. BP and Shell led the FTSE 100 risers in early trading after an attack by Yemen’s Houthis knocked out half of Saudi Arabia’s supply, of 5 per [...]
City Moves for 12 September – Who’s switching jobs at Stobart Aviation, the Hymans Robertson Foundation and RBC Capital Markets? September 12, 2019 Today’s City Moves includes Stobart Aviation, the Hymans Robertson Foundation and RBC Capital Markets. Stobart Aviation Former BA Cityflyer general manager Luke Hayhoe has joined Stobart Aviation as aviation business development director as it works to boost relationships with its customer airlines at London Southend airport, Carlisle Lake District airport and Teesside International Airport. Luke, [...]