Railway bailout has cost £3.5bn so far, government reveals June 18, 2020 The UK government has thus far spent £3.5bn keeping its railways running during the coronavirus pandemic, it has been revealed. Responding to a parliamentary written question, rail minister Chris Heaton-Harris said: ‘Since the outbreak of Covid-19 the government has approved £3.5bn of additional expenditure to ensure that vital rail services continue to operate. “Of this [...]
Virgin Atlantic set to ask for government bailout March 27, 2020 Virgin Atlantic is set to ask the UK government for a package of commercial loans and guarantees worth hundreds of millions of pounds. The airline will be among the first to do so, according to the Financial Times, after the government said this week it would only help the struggling aviation industry as a “last [...]
Celebrating a brand’s heritage can improve public perception December 4, 2019 As the year draws to a close, 2019 has seen some well-known British brands celebrate anniversaries and centenaries. Two of Britain’s largest supermarkets, Tesco and Sainsbury’s celebrated their 100th and 150-year anniversaries respectively, while British Airways also celebrated its 100th year of trading. Camelot, which owns the National Lottery and Euromillions, was another to celebrated [...]
UK hiring plummets as Covid-19 crisis hits low-income workers May 28, 2020 UK job vacancies crashed almost 60 per cent this month as the coronavirus pandemic sparked the country’s fastest rise in unemployment since 1947, new data has revealed. Live job vacancies have dropped from 820,000 at the beginning of April to just 373,000 in May as fears of a protracted economic downturn grow. The figures, released [...]
Coronavirus to spark record drop in international travel March 17, 2020 Coronavirus is expected to cause a 10.5 per cent drop in international travel this year – the worst fall on record – as the outbreak sparks chaos across the tourism and leisure industries. Industry consultancy Tourism Economics has downgraded its estimate as coronavirus continues to spread across Europe, prompting governments to impose travel bans and [...]
Jet2 dodges airlines malaise as budget carrier raises profit forecast March 11, 2020 Jet2 owner Dart Group today bucked the current airlines malaise, raising its profit forecast for the second time in six months despite the pressure being exerted on the aviation industry by the coronavirus outbreak. In a trading update, the airline said that until “very recently” customer demands for its package holidays had remained “consistently strong” [...]
Ryanair’s €1bn profit upgrade lifts rival airlines’ shares January 10, 2020 Ryanair profit upgrade today on better-than-expected Christmas traffic has lifted competitors’ shares on the FTSE as well as its own. Ryanair’s stock rose 6.6 per cent to €16.23 as it raised full-year profit guidance to beyond €1bn (£850m) after saying Christmas and New Year bookings were “stronger than expected”. Read more: Ryanair’s ‘abusive’ hand luggage [...]
Virgin Atlantic seeks up to £900m in rescue bid after coronavirus turbulence June 28, 2020 Embattled airline Virgin Atlantic is looking to raise up to £900m in a last-ditch rescue bid days after it said it was unlikely to secure a government bailout. The carrier, founded by Sir Richard Branson in 1984, has beefed up its original £750m cash call amid forecasts for an extended recovery period for the aviation [...]
Ted Baker appoints new chief executive amid coronavirus crisis March 30, 2020 Embattled fashion chain Ted Baker has appointed a new chief executive as the retailer battles the challenges caused by the outbreak of coronavirus. Acting chief executive Rachel Osborne will take on the role on a permanent basis, the company announced this morning. The former Debenhams finance chief took the reins in December when Lindsay Page [...]
Supermarket sweep: Spending data reveals shopper stockpiling and collapse in holiday bookings March 19, 2020 Brits are stocking up on essentials and holding off on booking holidays as the coronavirus pandemic sweeps the country, but they aren’t yet splashing the cash on takeaways, according to data from Starling Bank. The digital bank said customer spending at supermarkets was soaring to levels typically seen at Christmas, with warehouse outlet Costco entering [...]