Budget airline Norwegian takes a beating as it turns to shareholders in bid to raise cash January 29, 2019 Shares in Norwegian Air Shuttle crashed this morning as the company went cap in hand to shareholders after a potential bid for the struggling airline fell through last week. The 3bn Norwegian krone (£268m) fundraise comes as the business tries to move away from the rapid growth which has characterised it in recent years. Read [...]
British Airways owner IAG snaps up Monarch Airline Gatwick slots November 27, 2017 The owner of British Airways has beaten off the competition to secure Monarch Airline’s Gatwick take-off and landing slots. IAG has snapped up the majority of the slots from the collapsed carrier at Britain’s second busiest airport, according to sources familiar with the situation. The sale, by Monarch administrator KPMG, follows last week’s Court of [...]
Norwegian Air chairman resigns after turbulence hits carrier March 18, 2019 The chairman of Norwegian Air Shuttle will resign his position after a turbulent time at a company. Bjorn Kise said he made the decision to “make room” for new talent. Read more: Norwegian Air to seek compensation for Boeing flight ban Speculation has raged over takeover offers, with British Airways owner IAG ruling out a [...]
Digital battlegrounds: The war between big tech and regulators September 17, 2019 We now live in the age of the internet of things, where voice-sniffing devices abound, and consumers have the convenience of tailored search suggestions. Perhaps it is Amazon’s Alexa – revealed earlier this year to be forever listening to its users’ conversations – that provides the emblem of the age. However, while such devices can [...]
Passengers take wings at Heathrow as airport sees growth despite Brexit headwinds April 15, 2019 London’s main airport Heathrow showed its 29th consecutive month of record growth in March as passengers headed for Africa and North America helped push up figures. The number of trips made on connections to Africa jumped 5.8 per cent to 304,000, while freight to and from the continent grew 11 per cent as Virgin increased [...]
Lufthansa profit warning hurts ‘miserable’ airline stocks June 17, 2019 A Lufthansa profit warning dragged down airline stocks this morning as analysts warned investors are “spooked”. The Frankfurt-listed flyer blamed overcapacity in the market and rival carrier competition for falling ticket prices in Europe. Read more: Flybe boss to quit after airline’s sale to Connect Airways Lowering its earnings margin forecast to between 5.5 per [...]
‘Turbocharged’ IAG rides out airline storms March 4, 2019 BA owner International Airlines Group continues to impress, helped by a "turbocharged" dividend yield. The British Airways parent International Consolidated Airlines Group (LSE:IAG) has produced an outstanding performance, which is particularly impressive given the difficulties being faced elsewhere in the airline industry. The company has, for some years, been concentrating on driving its business by [...]
Data breaches drive losses from fraud up to £1.2bn March 21, 2019 The theft of personal information following data breaches drove an increase in money stolen through fraud to £1.2bn last year. A number of well known companies suffered high profile data breaches in 2018, including Facebook, Google, and British Airways. Read more: Fraud office launches investigation into London Capital & Finance Unauthorised fraud, where the account [...]
Rolls-Royce boss enjoys £1.6m pay increase despite £2.9bn 2018 losses and engine issues March 25, 2019 Rolls-Royce chief executive Warren East saw his pay skyrocket by more than £1.6m last year, despite presiding over a loss-making year and a series of issues with the firm’s engines which grounded a British Airways jet for nearly a year. East did not receive a rise in his base salary, but was the beneficiary of [...]
Norwegian Air boss tweets about ‘good meetings’ with Boeing after 737 Max 8 ban April 3, 2019 Norwegian Air has had positive meetings with plane manufacturer Boeing after its 737 Max 8 model was grounded across the globe last month. Norwegian’s 162-strong fleet includes 18 of Boeing’s 737 Max 8 model, which aviation authorities across the globe have grounded, after it suffered its second fatal crash in five months. Read more: Norwegian [...]