British Airways owner IAG to cut more flights over winter September 10, 2020 British Airways owner IAG will cut more flights over the coming months than it had previously planned as the recovery in international air travel from the coronavirus pandemic stalls. In an operations update, IAG said that it would now fly at 40 per cent capacity through the autumn, down from past estimates of 54 per [...]
Saga launches £150m raise as former owner returns September 10, 2020 Cruise and insurance firm Saga today launched a £150m capital raise this morning as the company reported a £55.5m loss for the first half of 2020. As part of the deal, former boss Roger de Haan will return to the company his father founded as non-executive chairman. He will invest up to £100m into the [...]
One in five Londoners will not go back to pre-Covid levels of Tube usage September 10, 2020 A little more than one in five Londoners do not believe they will use the Tube at the same frequency as they did prior to the coronavirus pandemic, according to a new survey. A newly released YouGov survey, seen exclusively by Morning Wire, showed that 22 per cent of Londoners expect their decreased use of [...]
Hammersmith Bridge: Government thinks TfL inflated £140m repair estimate September 9, 2020 The government is refusing to fund repairs for the closed Hammersmith Bridge because it believes the £140m price tag has been inflated by the local council and Transport for London (TfL), Morning Wire can reveal. A source close to transport secretary Grant Shapps said the government wants to fund the restoration of the 133-year-old West [...]
Hammersmith Bridge: Sadiq Khan in fierce row with government over closure September 9, 2020 City Hall and the government have today locked horns over who is responsible for the closed Hammersmith Bridge in what is becoming a heated row. The government announced today it was creating a Hammersmith Bridge taskforce that will be responsible for getting the West London river crossing open again. The group, which will be led [...]
Ryanair boss Michael O’Leary slams ‘bizarre’ quarantine rules September 9, 2020 Ryanair boss Michael O’Leary has slammed the government for its handling of the coronavirus pandemic, describing its quarantine restrictions as “bizarre” and lacking in “common sense”. Speaking to Sky News this morning, O’Leary said that ministers were “making this stuff as they go along to cover up the fact that test and tracing is effectively [...]
Virgin Atlantic joins calls for airport testing regime September 9, 2020 Virgin Atlantic’s chief executive has added his voice to calls for airport testing to replace the government’s blanket quarantine regime, saying it is the “only way” to get the economy going again. Speaking to the BBC this morning, Shai Weiss said: “The economy, which is already in deep recession will not take off unless we [...]
Haulage firm Wincanton sees shares jump on home delivery surge September 9, 2020 Shares in logistics firm Wincanton jumped over 10 per cent this morning as the haulage specialist said that full year profit was on course to be “materially ahead” of forecasts. In a trading update, the FTSE 250 firm said that it had seen a “continued improvement in profitability in July and August, with a particularly [...]
Business leaders back switch to airport testing September 9, 2020 The majority of UK business leaders believe the government should scrap the current quarantine regime on air travel and replace it with airport testing, new data has shown. According to a survey by London City Airport, 71 per cent of senior executives think that removing the current restrictions in favour of a testing programme would [...]
Four challenges facing new BA owner IAG’s boss Luis Gallego September 8, 2020 Taking over a multinational corporation is a daunting prospect even at the best of times, but when the corporation is in a sector that is currently undergoing its worst ever crisis, the challenge takes on several extra layers of difficulty. That’s the situation facing Luis Gallego, the 51-year-old Spaniard who today takes over the reins [...]