Back to black: Lufthansa returns to profit but shaves flight offerings amid travel chaos August 4, 2022 Lufthansa has returned to black, posting an operating profit of €393m (£331m) in the three months to June following a boom in demand for cargo flights. Up from last year’s loss of €827m, the carrier’s adjusted EBIT margin rose to 4.6 per cent while net income went up from a loss of €756m to a [...]
Grounded: Council blocks plan for London City Airport passenger and hours expansion July 10, 2023 Newham Council has voted unanimously to reject London City Airport’s plans to expand its passenger capacity from 5m to 9m and lengthen flying hours. Following an extended meeting this afternoon, councillors on Newham’s Strategic Development Committee voted to block the airport’s bid due to concerns over noise pollution. London City said it was “disappointed with [...]
Air France-KLM loses appeal over EU cartel fine March 30, 2022 Aviation powerhouse Air France-KLM announced today it lost an appeal against a million-euro fine imposed by EU antitrust regulators for participating in an air cargo cartel more than two decades ago. The second-highest court in the EU, the General Court rejected the group’s appeals as well as those brough by Lufthansa, Singapore Airlines and Cargolux. [...]
Billionaire beer heir and George Osborne enter the fray in Chelsea sale race April 18, 2022 An American billionaire beer heir and former chancellor George Osborne have joined separate bids to buy Chelsea Football Club, with a decision on the sale now expected this month. Sky News reports Alejandro Santo Domingo, who sits on the board of Budweiser owner AB InBev, is a part of an investor group led by ex-Liverpool [...]
Darts sensation Littler could earn six-figure sponsors but he is no Raducanu January 3, 2024 Whether you compare Luke Littler to Emma Raducanu or Ronnie O’Sullivan, there’s one certainty no matter the result of tonight’s Darts World Championships final: there will be commercial interest in the 16-year-old sensation. Young success is no stranger to the world of commercial sponsorship and deal making. When 18-year-old Raducanu won the US Open in [...]
ITA Airways in search for partner ‘to put money on the table’ January 12, 2022 Italian carrier ITA Airways is searching for a partner to ‘put money on the table’ and invest in the newly born airline. Speaking at a parliamentary hearing, ITA Airways’ chairman Alfredo Altavilla said Alitalia’s successor is already in talks with European and overseas potential partners and it is expected to seal the deal by June, [...]
BA owner IAG lures Nicholas Cadbury away from Whitbread for CFO job January 27, 2022 Nicholas Cadbury, finance director at hotel and restaurant giant Whitbread, will join British Airways’ owner IAG as chief financial officer on 21 March. The news, confirmed this morning, was first announced in October after the current chief financial officer Steve Gunning decided to step down. “It has been a wonderful experience to be involved in [...]
Chaos-stricken Heathrow dealt kerosene blow as refuellers plan to walk out from tomorrow 5am July 20, 2022 Heathrow will need to brace itself for further chaos as refuellers are set to go on a three-day strike starting tomorrow. Around 50 members of the union Unite working for Aviation Fuel Services (AFS) announced the decision yesterday, after they rejected a 10 per cent pay increase. The walkout will begin at 5am tomorrow and [...]
FTSE100 dips amid inflation surge December 15, 2021 The London FTSE100 index plunged this morning after data showed that inflation rates surged to 5.1 per cent in November – its highest level in a decade. Despite the surge, investors are no longer expecting the Bank of England to raise rates. The index saw retailers such as Next and Ocado fall 2.74 and 1.79 [...]
BA’s owner IAG to pay €75m to Air Europa after pulling out of takeover agreement December 16, 2021 British Airways’ (BA) owner IAG has announced today it will pay €75m (£63.7m) to Air Europa following yesterday’s decision to pull out from a £420m takeover deal, leaving shares up 0.70 per cent at closing time. IAG said it would it would pay the rival carrier’s owner Globalia €35m, on top a €40m break-up fee, [...]