Firms want new code of practice June 24, 2009 A clutch of the UK’s largest firms have called for the code of best practice covering boardrooms to be loosened, to allow them to opt out of guidelines. Companies including British Airways, Marks & Spencer (M&S) and Cable & Wireless want a change to the code’s ethos of “comply or explain” because they believe investors [...]
BEST OF THE BROKERS June 9, 2009 LONDON STOCK EXCHANGE (LSE)Analysts at Bernstein upgraded the LSE to “outperform” with a target price of 950p, based on the potential for cost-savings, a low interest rate environment and a strong post-trade environment to drive stock outperformance. The broker believes that consensus earnings for the group are understated and forecasts four per cent above average [...]
BA considers a fundraising July 14, 2009 CASH-strapped airline British Airways (BA) said it was exploring options to raise funds yesterday, as the firm’s directors faced the wrath of its shareholders over controversial cost-cutting plans. Chairman Martin Broughton said at the company’s annual meeting that BA was considering a convertible bond issue as a way of raising cash, while chief executive Willie [...]
June is a bumper month for Ryanair and EasyJet July 6, 2009 BUDGET airlines Ryanair and EasyJet yesterday said they had recorded year-on-year passenger increases after an exodus of passengers from premium rival British Airways (BA). Figures for June showed that Ryanair carried more passengers than ever before, with 5.8m people using the Irish airline. This represents a 13 per cent increase on passenger traffic from a [...]
June is a bumper month for Ryanair and EasyJet July 6, 2009 BUDGET airlines Ryanair and EasyJet yesterday said they had recorded year-on-year passenger increases after an exodus of passengers from premium rival British Airways (BA). Figures for June showed that Ryanair carried more passengers than ever before, with 5.8m people using the Irish airline. This represents a 13 per cent increase on passenger traffic from a [...]
LONDON Where to revive July 6, 2009 Mandarin OrientalGo for the Ginger Ritual. This jet-lag busting treatment uses a finger pressure technique, whereby the therapist applies pressure to the body’s shiatsu points to stimulate the flow of energy. Ginger-infused hot towels over the kidneys and a deep massage boosts lymphatic flow and helps relieve the pain of cramped joints. 1 hour and [...]
Greece is Europe’s top spot to soak up the September sun September 6, 2009 THE beauty of Greece is so extreme that even hordes of tourists can’t ruin it – in a lesser country, the likes of Mykonos, Corfu, Crete and Santorini would have become touristic hellholes by now. Though they remain gems, there’s no doubt that the Greek islands are crowded. For anyone seeking that rare thing, a [...]
BA pilots to swap shares for a pay cut June 17, 2009 BRITISH Airways pilots have voted to accept shares worth £13m in exchange for taking a pay cut, as part of a deal to cut costs at the struggling airline by £26m a year. The arrangement is part of a draft agreement with all of BA’s 3,235 pilots, which will see them swap shares for a [...]
Iata: airlines will lose $9bn in 2009 as downturn bites June 8, 2009 AILING airlines across the world face losing $9bn (£5.7bn) by the end of the year, the International Air Transport Association (Iata) said yesterday, almost doubling the estimate it made in March. Iata’s director general Giovanni Bisignani said it was “the most difficult situation the industry has faced”. British Airways’ chief executive used the data to [...]
Walsh: BA fighting for survival June 1, 2009 British Airways boss Willie Walsh has issued a stark warning to the airline’s 41,000 staff, warning them that the company is in a “fight for survival”. The UK’s flag carrier is hoping to win big concessions from staff as it cuts costs.