Ryanair wins EU court challenges against KLM and TAP state aid May 19, 2021 Ryanair has this morning won its legal challenges against billions of euros in state aid paid to two European airlines as a result of the Covid-19 pandemic. KLM, the Dutch wing of Air France, and Portuguese carrier TAP were granted a combined €4.6bn by the European Commission in response to the crisis in aviation. However, [...]
European car sales soar 250 per cent after lockdown May 19, 2021 European car sales soared back from lockdown lows last month, new figures from continental auto body ACEA showed today. Sales across the EU, EFTA, and UK rose 256 per cent altogether, rising from just over 292,000 cars last April to nearly 1.1m a year on. The massive rise is down to the fact that a year [...]
2035 zero emission car target a ‘mountain to climb’ for government, MPs say May 19, 2021 The government is facing a “mountain to climb” to deliver on its ambition to make all cars sold in the UK zero-emissions by 2035, MPs have said today. Ministers must address the twin challenges of up-front prices for electric cars, which remain notably higher than petrol and diesel cars, and providing enough charging infrastructure to [...]
Biden charges up $174bn electric vehicle plan in Michigan speech May 18, 2021 US President Joe Biden today called for government grants for new battery production facilities as he made the case for his $174bn (£123bn) electric vehicle plan today. During a speech at a Ford electric vehicle plant in Michigan, Biden vowed to “set a new pace” for the technology and reverse what he described as the [...]
$1.1bn EU pre-owned private jet market rebounded in the UK in 2020 May 18, 2021 The UK’s wealthiest bought 14 pre-owned private jets last year, worth $118.2m in total, nearly triple the number in 2019 due to pandemic travel restrictions, according to private jet broker Colibri Aircraft. The UK’s rebounding figure was because the pandemic grounded flights across the world, a spokesperson told Morning Wire “There’s one client who said [...]
Jaguar Land Rover sinks to a loss after new CEO’s £1.5bn strategy reset May 18, 2021 Jaguar Land Rover sinks to a loss after new CEO's £1.5bn strategy reset
BA boss demands US go on travel green list as Hancock warns Brits off Spain holidays May 18, 2021 BA boss demands US go on travel green list as Hancock warns Brits not to holiday in Spain and France
Eurostar receives £250m refinancing package after months of waiting May 18, 2021 Eurostar today announced that it had received a £250m refinancing package from a group of banks in a bid to shore up its finances amid the Covid-19 pandemic. The firm said that the deal, which comprises £50m shareholder equity, £150m shareholder guaranteed loans and £50m restructured existing loan facilities, would be guaranteed by majority shareholder [...]
Used car firm Cazoo sees revenue surge fivefold May 18, 2021 Used car firm Cazoo today said that its revenue grew nearly fivefold in the first quarter as the online dealership continues its rapid expansion. The company, which was set up in 2018, said that revenue in the first period was £113.9m, compared with £19.6m last year. The increase is the result of the firm selling [...]
TfL granted 10 day funding extension as negotiations continue May 18, 2021 Transport for London (TfL) this morning announced that the government has extended its current funding deal for 10 more days while it continues to negotiations over a new package. The transport operator’s current deal, itself an extension of an earlier agreement, was due to expire today. But the network said the deal had been extended [...]