Airlines hit by £1.1bn losses in shutdown April 21, 2010 THE International Air Transport Association (IATA) estimated the airline industry had been hit by $1.7bn (£1.1bn) in total losses due to the Icelandic volcano disruption. IATA director general and chief executive Giovanni Bisignani estimated that at worst, the six-day flight ban hit 29 per cent of global aviation and affected up to 1.2m passengers a [...]
A third of BA flights cancelled on strike day three March 22, 2010 MORE than a third of British Airways flights at the UK’s major airports were cancelled on day three of strike action by cabin crew, according to BA’s website. The airline said 200 of the 563 of the flights due to take off or land at 11 airports had been scrapped. Unite, the union who called [...]
Airlines feel heat of Icelandic volcano April 19, 2010 AIRLINES grounded by the eruption of an Icelandic volcano are set for further losses if airspace is closed again, with the airline industry yesterday reporting daily losses of more than £5m. “If the shutdown of the airspace in the UK and large parts of Europe [returns], it will almost certainly lead to some carriers, especially [...]
BA execs to stand trial on cartel charge April 11, 2010 THREE former executives and one current executive at British Airways (BA) are to face criminal court proceedings today after cartel charges were handed to them over fuel price fixing. Former executives Alan Burnett, Iain Burns and Martin George will stand trial, alongside current BA executive Andrew Crawley, at Southwark Crown Court, where they are expected [...]
Amadeus to raise €1.4bn in flotation April 14, 2010 TRAVEL and tourism technology firm Amadeus aims to raise up to €1.36bn (£1.20bn) when it returns to the Madrid stock exchange later this month in Europe’s largest IPO this year. Amadeus, with €2.46bn of revenues in 2009, was delisted four years ago when BC Partners and Cinven bought their stake from airlines Air France, Lufthansa [...]
Defiant BA flies on despite chaos March 21, 2010 BRITISH Airways flew 49,000 customers yesterday despite a strike action by cabin crew. The airline said yesterday that 55 per cent of Heathrow based cabin crew turned up to work, and 97 per cent showed up at Gatwick. Originally the airline thought it would fly 45,000 passengers, or 60 per cent, on each day of [...]
Grounded commercial flights create a boon for private jets April 20, 2010 A RAFT of private jet and helicopter companies have cashed in on the chaos generated by thousands of grounded commercial liners as they transported stranded business passengers to and from mainland Europe. Operators, including NetJets, Ocean Sky and Jet Aviation have seen the number of requests sky rocket as most of Europe continues to face [...]
Pension deficits fell in 2009 March 8, 2010 Pension deficits fell among UK firms during 2009, but the overall improvement masks yawning liabilities at some notable names including British Airways, research to be published today will show. The report by consultants Hymans Robertson on the ability of FTSE 350 companies to support their pension schemes shows the median deficit fell to 6p per [...]
BA’s £3m share package for bosses risks inflaming tensions with Unite April 5, 2010 NEWS of a £3m pay package for British Airways (BA) executives has fuelled criticism of the airline by trade union Unite which has accused the airline of striking the deal on the same day strike negotiations were taking place. BA agreed a share deal that will see a seven-member executive committee awarded close to £3m [...]
Discount airlines see double-digit boost to March passenger traffic statistics April 8, 2010 DISCOUNT airline easyJet has seen the number of passengers travelling during March climb by 13.5 per cent. Last month easyJet flew 3.9m passengers across its 500 routes compared with the same period last year when it flew 3.5m passengers. EasyJet said the numbers were helped by the seven-day strike by British Airways (BA) cabin crew [...]