Virgin Atlantic profits rise for second consecutive year as it plots bullish course and says it expects further growth March 23, 2016 Virgin Atlantic has reported an increase in pre-tax pre-exceptional items profit in 2015, benefiting from lower fuel costs. Profit before tax and exceptional items were reported at £22.5m, up £10.1m from the year ending December 2014. Last year it returned to profit after three years of losses. Group revenues fell four per cent to £2.78bn and passenger [...]
Britain’s 20 most attractive employers are … John Lewis, BMW, British Airways April 8, 2015 We spend the vast majority of our waking lives at work. And yet so many of us grumble about where we work, spend our lives worrying about job security and sometimes end up dedicating our evenings and weekends to getting the job done too. So it might be worth taking note of a new survey [...]
Brussels travel advice from FCO: UK government tells Brits travel to Brussels is now OK March 23, 2016 Brits have been told they are OK to travel to Brussels again, after being told last night not to visit the city. The government said it was no longer advising against travel to the Belgium capital, but visitors should follow advice from local authorities. Travellers had last night been warned against travelling to Brussels following Tuesday's terrorist attacks. The Foreign and [...]
Ryanair slams French air traffic controller unions as “selfish” for striking and calls for ban on industrial action March 20, 2016 Budget airline Ryanair has hit out at French air traffic controller (ATC) unions over strikes that have seen hundreds of flights cancelled across Europe. The company released a statement this evening repeating its call on the French government and EU Commission to "take action to prevent European consumers regularly being held to ransom by tiny numbers of [...]
Brexit vote won’t have a material impact on business, said IAG chief executive Willie Walsh February 26, 2016 A Brexit vote would not have a material impact on the airline business, according to Willie Walsh, chief executive of International Airlines Group (IAG). Last year, Walsh said that he was “pro-Europe”, adding that he believed the UK is better off within the EU from a business point of view. However, speaking this morning on [...]
Fever-Tree’s share price sparkles as it toasts strong sales for its first full year as a listed company March 14, 2016 Premium mixers brand Fever-Tree, has reported revenue up 71 per cent to £59.3m for the year to 31 December, while pre-tax profits soared to a whopping £16.7m, from just £2.5m the year before. After listing in October 2014, shares have climbed by around 250 per cent, giving Fever-Tree a market capitalisation of around £680m. The company is also offering a substantial hike [...]
Winner of City Airport auction set to be named February 21, 2016 The sale of City Airport to one of four groups of bidders could be announced as soon as this week. Four groups of bidders are currently in the race to secure the east London airport, which has an expected price tag of over £2bn. A pension fund consortium that includes PSP Investments, money manager for [...]
British Airways boss Willie Walsh pockets £6.4m as firm recovers March 5, 2015 British Airways boss Willie Walsh saw his pay packet rise by a third last year, reflecting his ongoing success in turning parent company IAG around. The ex-trade unionist has become something of a star in the City after his successful handling of the BA and Iberia merger, and his ability to deliver good returns to [...]
International Airlines Group and LATAM Airlines Group sign deal to make flying to South America easier January 14, 2016 International Airlines Group (IAG) has signed a joint agreement between its subsidiaries British Airways and Iberia and LATAM Airlines Group to make flights between Europe and South America easier. If they receive regulatory approval, the airlines plan to expand their codeshare agreements, which allow airlines to operate flights on another airline's routes. It allows firms to offer better [...]
FTSE 100 index rallies after Asian markets as the share prices of Reckitt Benckiser and IAG rise February 15, 2016 The FTSE 100 index shot higher today after a rally on most Asian stock markets, despite poor trade data coming out of China. The UK's blue-chip index rose 2.26 per cent to 5,836 points in early afternoon trading, led higher by Reckitt Benckiser and British Airways owner International Consolidated Airlines Group (IAG). "No severe sell-off in Chinese markets after a [...]