Flybe: Ministers draft in restructuring advisers on rescue loan talks amid ‘state aid’ row January 27, 2020 Ministers have brought in advisers to help negotiate a government loan to struggling regional airline Flybe, despite insisting the rescue deal will not constitute state aid. Alvarez & Marsal (A&M) has been tasked with advising the Department for Transport (DfT) in assessing the basis for a commercial loan, according to Sky News. The company, a [...]
Coronavirus live: Second Brit ‘dies from Covid-19’ as UK cases number 163 March 6, 2020 UK coronavirus cases have hit 163, the government confirmed today, as reports emerged of a second Brit who has died from Covid-19. London’s total number of cases has climbed to 29, up four from yesterday’s 25. England has 147 cases overall, with 13 in the north east and Yokshire, 21 in the north west. There [...]
FTSE 100 drops as pound surges and Covid worries grow October 21, 2020 The FTSE 100 dropped as investors worried over new coronavirus restrictions and the pound soared amid hopes of a Brexit deal, hurting firms’ overseas earnings. London’s blue-chip index opened flat but had tumbled 1.3 per cent by late morning to 5,814 points. The FTSE 250 was down 0.3 per cent. Read more: UK inflation climbs [...]
FTSE 100 closes higher after upbeat UK earnings October 20, 2020 The FTSE 100 recovered from an early fall to close in the green after a day of positive quarterly earnings, although residual fears over coronavirus and new restrictions remain. London’s blue-chip index fell 0.3 per cent but crept back through the day to close up by the same margin at 5,899 points. The FTSE 250 [...]
UK airlines set for jobs crisis on par with collapse of mining in 1980s June 10, 2020 The UK’s aviation sector is on the brink of a jobs crisis as severe as that which devastated the mining industry in the 1980s, a new report has found. According to the New Economics Foundation (NEF), up to 70,000 jobs are under threat as a result of the coronavirus crisis, which has grounded airlines around [...]
Embattled retailer Ted Baker appoints new finance chief May 18, 2020 Fashion retailer Ted Baker has appointed former HMV finance boss David Wolffe as its chief financial officer. Wolffe, who previously held senior roles at ITV Studios, AOL Europe and BBC Magazines, was hired as Ted Baker’s interim finance chief in January. The retailer has struggled over the past year, with a string of profit warnings [...]
Budget airlines primed for land grab as flag carriers face change of flight path February 17, 2021 After nearly a year of intense disruption, one could be forgiven for expecting even Ryanair’s perennially bullish boss Michael O’Leary to be a little downcast about the state of his industry. But despite the near daily cries of anguish issuing from the airlines sector, the Irishman’s eyes are fixed firmly on the future. Speaking after [...]
Ryanair boss Michael O’Leary calls on EU to block KLM bailout June 26, 2020 Ryanair boss Michael O’Leary has called on the European Union to block a €3.4bn (£3.1bn) rescue package for the Dutch wing of Air France-KLM. In a statement, O’Leary said: “We call on the European Commission to block this subsidy doping to KLM, which will further reduce competition and consumer choice in the Dutch and French [...]
Shareholders back German government bailout to rescue Lufthansa June 25, 2020 Lufthansa shareholders have overwhelmingly backed a €9bn (£8.1bn) bailout by the German government in a last-ditch rescue bid for Europe’s largest airline group, as the coronavirus crisis continues to batter the travel sector. More than 98 per cent of shareholders voted in favour of the rescue package in a virtual extraordinary general meeting today, chairman [...]
Government faces accusations of lying over Flybe rescue package January 17, 2020 The recriminations surrounding the government’s rescue package for Flybe grew yet again this morning, as Ryanair boss Michael O’Leary accused the state of a cover-up of the true terms of the deal. O’Leary has already written to chancellor Sajid Javid threatening legal action over what he calls illegal state aid to one of his competitors. [...]