Maersk fast-tracks carbon-neutral shipping plans to 2023 February 17, 2021 Shipping group Maersk is speeding up plans to decarbonise seaborne shipping by putting the world’s first carbon-neutral powered ship into operation. A.P. Moller-Maersk aims to achieve the move by 2023, seven years ahead of its original plan. The shipping industry carries around 80 per cent of worldwide trade and accounts for three per cent of [...]
Signature Aviation sells engine repairs business for $230m February 17, 2021 Flight services company Signature Aviation has sold its engine repairs business for $230m, the firm announced on Wednesday. US-based maintenance and repairs provider StandardAero will purchase the division. Signature Aviation had been looking to offload ERO since it was first put up for sale in 2018. The deal comes at a time when the airline [...]
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 [...]
Coventry launches bid for battery ‘gigafactory’ at airport February 16, 2021 Coventry City Council has joined forces with the local airport to develop plans for a battery gigafactory which could create up to 4,000 new jobs. The joint venture partners will submit a planning application for the project, which they said could bring in £2bn in investment, later this year. West Midlands Mayor Andy Street said [...]
Travel businesses urge customers to book summer holidays despite guidance February 15, 2021 A coalition of the UK’s largest travel companies has come together to give consumers the confidence to book summer holidays despite oscillating advice from ministers. The group, which commands combined revenues of over £11bn, has offered any customer who books with them a guaranteed refund or change of holiday date if the trip has to [...]
Jaguar Land Rover commits to UK as luxury brand launches 2030 electrification push February 15, 2021 Jaguar Land Rover (JLR) today announced that its full range of vehicles would be electrified by 2030 as the luxury car brand seeks to shift away from fossil fuels. It also committed to keeping its UK factories open for the duration of the electrification process. The Tata-owned firm said that all vehicles in its Jaguar [...]
Rolls-Royce picks former Deloitte partner Kakoullis as finance chief February 15, 2021 Engineering giant Rolls-Royce has named Panos Kakoullis as its new chief financial officer, as the FTSE 100 group steers through a pandemic-driven restructuring. Kakoullis, who spent 30 years at accountancy firm Deloitte, will join the company in May. Restructuring Rolls-Royce said in January that its restructuring efforts were continuing apace, with 7,000 roles removed last [...]
Scotland to Northern Ireland underwater tunnel could be green lit next month February 14, 2021 An underwater tunnel connecting Great Britain and Northern Ireland could get the green light as early as next month. The tunnel, which could be dubbed Boris’ Burrow, would help ease post-Brexit tensions, after Boris Johnson’s withdrawal agreement created checks for some goods travelling between Great Britain and Northern Ireland. Network Rail chair Sir Peter Hendy [...]
Hotel quarantine booking site still not working February 12, 2021 Hotel quarantine booking site launches, there are no spots at London airports until Wednesday
Jet2 raises £422m in fresh cash despite travel restrictions February 12, 2021 British holiday company Jet2 said this morning that it has raised £422m through a new share issue to bolster the company’s finances amid sustained restricted travel. Equal to 20 per cent of its share capital prior to the fundraise, the fundraiser comprised of over 35m placing shares and subscriptions for nearly 600,000 retail shares. “The [...]