Iberia cancels 150 flights as strikes begin April 9, 2012 PILOT STRIKES at British Airways’ Spanish sister Iberia grounded 150 flights across Europe yesterday, in the first phase of industrial action that could cause travel misery during the peak summer season. Staff walked out yesterday in the first of 30 one-day strikes to protest against the start-up of low-cost carrier Iberia Express, owned by International [...]
BA looks to cut 1,200 jobs as it integrates BMI April 12, 2012 BRITISH Airways said yesterday 1,200 jobs were under threat as a result of plans to integrate the recently-purchased airline BMI into its Heathrow operations. The Unite union said it was “very saddened at the scale of the job losses being proposed” as BA soaks up 42 of BMI’s lucrative landing slots at Britain’s busiest airport. [...]
Virgin is ready to take on high street banks July 15, 2012 AIRLINE owners are known for being colourful characters. They have to be, given the lengths they go to make money from air travel amid surging costs, awkward regulations and fears about damaging the planet. In the current climate, the same could be said about bank owners. But Sir Richard Branson is excited at the prospect. [...]
BA drops Kingfisher alliance March 14, 2012 British Airways yesterday said it has suspended its code sharing agreement with India’s troubled Kingfisher Airlines. Kingfisher Airlines is “undergoing a financial restructure,” said Christopher Fordyce, regional commercial manager for south Asia at British Airways, without elaborating the reason for the suspension. Cash-strapped Kingfisher said yesterday it will cut back its overseas flights as the [...]
Stricken Bankia was urged to raise more cash May 27, 2012 SHARES in bailed-out Spanish lender Bankia are expected to plunge today as new questions emerge about warnings it received in the run-up to its share issue last year. The bank, rescued over the weekend with €23.5bn (£18.78bn) from the Spanish government, was told last year it needed more cash when it raised €3.1bn in July, [...]
The beautiful Balearic bubble May 24, 2012 WITH Spain poised to need a bailout, is this a foolish time to think about buying a dream home in Mallorca, Ibiza or Menorca? Not necessarily. Michael Cunnington, of MJC Associates, the Savills Agents in Mallorca, says: “The honest answer is that we still have traffic and people inquiring in the top end but buyers [...]
Lufthansa to shed 3,500 jobs May 3, 2012 Deutsche Lufthansa, Germany’s biggest airline, announced plans to slash 3,500 administrative jobs around the world as it tries to return to profitability. “We can only safeguard jobs for the long term and create new openings if we reorganise the administrative functions and accept job losses now,” Chief Executive Christoph Franz said in a statement on [...]
Heathrow gets extra staff for border checks May 1, 2012 THE GOVERNMENT has promised to bring in more staff to speed up immigration queues at Heathrow airport following complaints from businesses and passengers. Willie Walsh, the chief executive of British Airways parent IAG, warned yesterday that “we have a crisis, it has been there for some time and we need urgent action” to put an [...]
FTSE recovers from Euro rout April 24, 2012 BRITAIN’S blue-chip shares rose yesterday, rebounding from a Europe-wide rout the previous day and helped by better-than-expected US housing data which boosted global risk appetite. The FTSE 100 index rose in tandem with US stocks following the release of US new home sales data, which dropped to four-month lows but came in above analysts’ expectations. [...]
FTSE recovers from Euro rout April 24, 2012 BRITAIN’S blue-chip shares rose yesterday, rebounding from a Europe-wide rout the previous day and helped by better-than-expected US housing data which boosted global risk appetite. The FTSE 100 index rose in tandem with US stocks following the release of US new home sales data, which dropped to four-month lows but came in above analysts’ expectations. [...]