British Airways suspends all flights from Gatwick due to second lockdown November 5, 2020 British Airways has reportedly scaled back its operations for November, including the suspension of all flights from Gatwick airport, due to the new lockdown in England. Already struggling with a hit to demand from the pandemic, the airline has also taken the decision to furlough more staff as it braces for a difficult winter. In [...]
Easyjet denies it is in talks with German authorities over state aid November 5, 2020 Easyjet has hit back at reports that it has approached German authorities for emergency funding to help it through the coronavirus pandemic. German business paper Wirtschaftswoche reported that chief exec Johan Lundgren had been involved in talks concerning a sum in the region of hundreds of millions of euros. But representatives for the low-cost carrier [...]
Wizz Air boss predicts carrier will make full recovery within a year November 5, 2020 Wizz Air’s chief executive has said that the airline will return to pre-pandemic service levels within a year. Speaking to Morning Wire, Jozsef Varadi that although it would likely take the aviation sector as a whole much longer to recover, he was incredibly upbeat about the Hungarian airline’s prospects. “It’s going to take five years for [...]
Car sales fall again in worst October in nine years November 5, 2020 Sales of new cars declined again last month in the weakest October in nine years for the UK car market. New figures from the Society of Motor Manufacturers and Traders (SMMT) said that sales dropped 1.6 per cent to 140,945. More than half of the decline came as a result of Wales’ two week “firebreak” [...]
Trainline posts £40m loss as passenger numbers evaporate November 5, 2020 Trainline this morning posted a £43m loss as the coronavirus pandemic hammered the number of passengers making rail journeys. In its first half results, the FTSE 250 firm said that sales fell 81 per cent to £358m in the period to the end of August, including the three month initial lockdown in the spring. Passenger [...]
Pilots’ union calls for ministers to commit to ending travel ban on 2 December November 4, 2020 The UK’s pilot union has called for the government to commit to end the ban on international leisure travel on 2 December. Under the rules of the new national lockdown, which begins tomorrow, all but essential overseas travel from England will be banned. When the measure was announced on Saturday it was denounced as a [...]
London Southend owner Stobart bullish on comeback November 4, 2020 The boss of London Southend owner Stobart Group is optimistic that the airport will be among the quickest to see a recovery in passenger numbers after the coronavirus pandemic. This morning the company revealed that numbers have dropped 89.5 per cent so far this year. Most companies in the sector are predicting a return to [...]
BMW profit races back but second wave fears abide November 4, 2020 Car giant BMW’s profit came roaring back in the third quarter as growing Chinese demand for its cars helped the firm recover from the coronavirus pandemic. Profit at the German auto company rose 9.6 per cent to €2.5bn in the period, up from 2.2bn last year. BMW was boosted by a 31 per cent sales [...]
Gatwick finance boss takes off for infrastructure provider CityFibre November 3, 2020 Gatwick Airport’s finance chief is reportedly leaving after a decade to join infrastructure provider CityFibre Holdings. Nick Dunn is set to be named chief financial officer of the Goldman Sachs-backed CityFibre next week, according to Sky News. Dunn joined Gatwick from Anglo American in 2010, where he was general manager of corporate finance. Before that [...]
Ferrari boosts guidance after beating third quarter forecasts November 3, 2020 Luxury carmaker Ferrari has upped its 2020 earnings guidance after beating forecasts in the third quarter with record quarterly volumes, revenues and Ebitda. Chief executive Louis Camilleri said the guidance implied a “very strong” fourth quarter. The company said it expects adjusted core earnings of approximately €1.125bn compared with €1.075-1.125bn previously, assuming conditions are not [...]