BORIS ‘CIRCUS’ TAKES A HIT FROM TREASURY RINGMASTER MYNERS September 3, 2009 BORIS Johnson’s visit to Brussels yesterday looks to have ruffled quite a few feathers in the austere halls of the Treasury, which is now claiming it should be hogging the glory for defending the City’s hedge funds against the EU’s evil draft directive on alternative investment fund managers. Lord Myners, the City minister, yesterday got [...]
BA calls in Acas to avert strike action July 1, 2009 BRITISH AIRWAYS (BA) said it asked the conciliation service Acas to intervene in a bid to reach a deal with unions on jobs and pay yesterday. Talks between BA and the Unite and GMB unions aimed at agreeing a series of cost-cutting measures including a pay freeze and more than 3,500 job losses broke up [...]
BA’s all-business class City flights set for take off June 22, 2009 TROUBLED British Airways (BA) said yesterday it would go ahead with its all-business class London City to New York service, despite having reported record losses earlier this year. The service, which will begin on 29 September, sees each Airbus A318 plane take just 32 passengers over the Atlantic. The plane will stop in Ireland for [...]
BA’s cost cuts are rejected by workers July 6, 2009 BRITAIN edged closer towards a summer of holiday disruption yesterday, as 2,000 cabin crew and ground staff rejected cost cutting plans put to them by British Airways (BA). The flag carrier is striving to cut costs after it reported a record loss of £401m earlier this year. BA had set a 30 June deadline to [...]
BA battles the turbulent air ahead of AGM July 12, 2009 INVESTORS in British Airways (BA) are psyching themselves up for another dose of doom and gloom ahead of the ailing airline’s annual meeting tomorrow, as worries about its pension deficit, record losses, tie-up woes and the worldwide downturn weigh on the company. Chief executive Willie Walsh, who has said the carrier is in a “fight [...]
HEATHROW TOP DOGS READY FOR A GRILLING August 18, 2009 YESTERDAY marked the first working day at Heathrow’s Terminal 5 for philosopher Alain de Botton, who’s spending a week as “writer-in-residence” at the airport while scouting for fuel for a new book. The tome, “A Week At The Airport: A Heathrow Diary”, is due to be published in September and will feature conversations with passengers, [...]
FIRST CLASS GROUNDED May 25, 2009 AUSTRALIAN airline Qantas will stop selling first class fares on most of its flights, the firm said yesterday, as it struggles to cope in the downturn. Last week, British Airways said it would not fit first class cabins on its new aircraft, as business and consumer demand for premium travel falls.
BA turbulence as staff asked to work for free June 16, 2009 THERE was further turbulence at British Airways (BA) yesterday after the airline asked its 40,000-strong staff to work without pay, as the company “fights for survival”. The flag carrier is desperately seeking to cut costs, having made record losses of £401m for 2008. Airlines across the globe are struggling as they deal with a slump [...]
BEST OF THE BROKERS June 15, 2009 WORKSPACE GROUPPanmure Gordon upgraded its 2010 estimated dividend per share and net asset value for Workspace Group. The broker was encouraged by Workspace’s final results and feels it is de-risked following its rights issue, debt restructuring and ongoing disposal programme. The analysts rate the stock as a “buy” with a target of 20p. BRITISH AIRWAYSBA’s [...]
City set for summer of discontent June 11, 2009 RMT boss Bob Crow threatened further industrial action last night, if London Underground (LU) refuses to meet union demands, as the City prepares itself for a summer of discontent. The City hit out at the union, saying further action would be a threat to the recession-hit capital. “The last thing the business community wants to [...]