Private equity group TPG in exclusive talks to buy McLaren’s iconic Woking HQ March 8, 2021 Private equity group TPG is in exclusive talks with supercar maker McLaren over the purchase of the firm’s iconic Woking headquarters. Sky News reported that the sale-and-leaseback deal for the property, which would allow the carmaker to continue using it, could be worth around £180m. The spectacular facility, which houses the firm’s collection of classic [...]
Richard Branson sues train partner for £180m in Virgin brand dispute March 8, 2021 Sir Richard Branson is suing a former US partner for $250m (£180m) over its decision to drop the Virgin name from its trains due to a perceived decline in brand value. Virgin and Brightline inked a 20-year licensing deal in 2018 that allowed the American company to rebrand trains on its service as Virgin Trains [...]
Ex-government minister Justine Greening joins On the Beach board March 5, 2021 Former government minister Justine Greening has joined the board of online travel agent On the Beach. Greening, who was the Conservative MP for Putney, Roehampton and Southfields between 2005 and 2019, has been appointed as a non-executive director with immediate effect. On the Beach said her experience in Westminster will help it navigate the “major” [...]
TfL unveils design of new Piccadilly Line Tube trains March 4, 2021 Transport for London and German engineering firm Siemens have today unveiled the design for the new Piccadilly Line underground trains. The trains, which will begin operating on the line in 2025, have 10 per cent more capacity than the old models and use 20 per cent less energy. They are the first air-conditioned models to [...]
Sadiq Khan rules out driverless trains as a part of next TfL bailout March 4, 2021 Sadiq Khan has said today that the government will not try to force Transport for London (TfL) to implement driverless trains as a part of current bailout negotiations. Khan told a group of reporters at his re-election campaign launch that the government had dropped any request to bring in driverless trains, after initially asking for [...]
BA to offer £33 Covid tests to passengers ahead of summer travel March 4, 2021 British Airways has formed a partnership with a Covid-19 testing supplier to provide tests to passengers ahead of their flight, the airline said today. In preparation for the expected summer travel boom, passengers can buy a testing kit for £33, which they can use abroad with the help of an advisor on video call. The [...]
Peugeot and Fiat owner Stellantis nets profit boost after mega-merger March 3, 2021 The newly formed Stellantis predicts better than expected financial results after profits remain high in the pandemic
British Airways dives to £4bn loss as flights reduced by two-thirds March 3, 2021 British Airways (BA) fell to a £3.9bn operating loss in 2020, owner IAG revealed today, more than half of the airlines group’s total loss for the year. According to the FTSE 100 firm’s annual reports, BA’s loss dwarved that of its stablemates Aer Lingus, Iberia and Vueling. These fell to losses of €563m, €1.4bn, and [...]
Budget 2021: Aviation firms accuse Sunak of ignoring sector March 3, 2021 The aviation industry has reacted furiously to today’s Budget, accusing Chancellor Rishi Sunak of ignoring the sector, which has been battered by the pandemic. Aviation firms had been lobbying hard for sector-specific relief for the industry, which has been in a tailspin for an entire year due to wide-ranging travel restrictions. Although the sector will [...]
Ryanair to launch own vaccine passport tool over delay fears March 3, 2021 Ryanair chief executive Michael O’Leary said this morning that the budget carrier is adding a tool to its app to allow passengers to upload vaccine certificates and negative coronavirus tests to get travel going again. Speaking to the parliamentary transport select committee this morning, the Irishman said that the airline had done so because it [...]