Ryanair’s profits ‘will rise’ as recession forces passengers to opt for cheaper fares January 5, 2023 Low-cost airline Ryanair has raised its profit guidance for its full year 2023 to between €1.32bn (£1.16bn) and €1.42bn (£1.25bn). This is a 25 per cent boost on its initial range of between €1bn and €1.20bn. Analysts at Liberum raised Ryanair’s forecast after a better than expected third quarter; Ryanair carried 11.5 million passengers in [...]
The Super Strike: Which London train lines and buses have been affected by today’s walkouts? January 5, 2023 Rail passengers face a third consecutive day of travel disruption on Thursday because of a strike by train drivers – and once again it has seeped into the London transport network. Services are being be crippled by the walkout by members of Aslef at 15 rail companies in a long-running dispute over pay, with some [...]
2022 worst year for UK car production in decades, but sector hopes to bounce back January 5, 2023 2022 was the worst year for car production in the UK since 1992, according to new data published today. Figures from automotive trade body the Society of Motor Manufacturers and Traders (SMMT) show that car registrations totalled 1.61 million in 2022, only just higher than 1992’s 1.59 million. Last year’s output was down 700,000 units [...]
Ryanair passenger levels jump as low-cost carriers weather recession January 4, 2023 Ryanair reported a jump in passenger levels today in a sign that low-cost carriers are managing to weather the cost-of-living crisis. Figures published today show that the low-cost airline carried 11.5 million passengers in December, 21 per cent up on last year’s levels. Numbers were also up on November’s 11.2 million travellers. Load factor – the [...]
Rail strikes push people to buy cars as disruption hits millions January 4, 2023 More drivers are looking to own a car as the ongoing rail strikes cause misery for millions of people, according to new data. Data published today by automotive marketplace Auto Trader shows that the percentage of people choosing to buy a car due to the unreliability of the public transport system has jumped from 36 [...]
Airlines ‘extremely disappointed’ by wave of China-targeted Covid restrictions January 4, 2023 The global industry body for airlines has said it is “extremely disappointed” by countries’ decisions to introduce restrictions on travellers from China after Covid cases have skyrocketed in the country following Beijing’s decision to ditch its zero-Covid policy. The International Air Transport Association (IATA), which represents around 300 airlines across the globe, described the wave [...]
RMT to resume rail strikes talks with government on Monday January 4, 2023 The RMT will resume talks over ongoing rail strikes with the government this Monday, according to union boss Mick Lynch. Lynch told GB News that government officials contacted the RMT earlier this week to “get a meeting in” early next week. The announcement comes as over 40,000 workers at Network Rail and 14 other train [...]
Rail strikes will cost industry £110m, Network Rail warns January 4, 2023 This week’s rail strikes will cost the industry around £110m, according to Network Rail calculations. A spokesperson for Network Rail told Morning Wire that train operators will lose £20m for each day of RMT strikes whilst the train drivers’ walkout on Thursday will cost the industry around £30m. Rail unions RMT and Aslef are on [...]
Rail strikes: Half of all lines shut as Mick Lynch warns strikes could last well into summer January 4, 2023 Half of Britain’s railways are closed today with only a fifth of services running, as even London’s tube and overground network are affected by the industrial action. Train passengers are suffering another day of strike disruption as the new general secretary of the TUC called for an urgent meeting with the Prime Minister in a [...]
Edging lower: Oil price slips and could fall further on China Covid concerns January 4, 2023 Oil prices edged lower on Wednesday after slumping in the previous session, weighed down by concerns about weak demand due to the state of the global economy and China’s rising Covid-19 cases. Brent futures for March delivery fell 43 cents to $81.67 a barrel, a 0.5% loss, by 0700 GMT. U.S. crude dropped 39 cents, [...]