Airlines call on government to extend furlough scheme beyond June April 27, 2020 The UK’s airlines have written to chancellor Rishi Sunak warning him that carriers could face a “renewed cash crisis” if the coronavirus job retention scheme is not extended beyond June. In a letter, Tim Alderslade, chief executive of sector body Airlines UK, said: “There is a danger that should the CJRS be withdrawn prematurely, carriers [...]
Airbus ‘bleeding cash at an unprecedented speed’ due to coronavirus April 27, 2020 Planemaking giant Airbus has written to its 135,000 staff warning them to expect deeper job cuts, with the firm “bleeding cash at an unprecedented speed”. In a letter to employees, chief executive Guillaume Faury said that the aerospace behemoth’s survival was at stake, saying that the recent drop in production of a third was not [...]
Brazil’s Embraer blasts Boeing after $4.2bn deal scrapped April 26, 2020 Brazilian aircraft company Embraer today attacked Boeing after the US company yesterday pulled the plug on a $4.2bn (£3.4bn) deal to buy its commercial jets division. In a statement, Embraer said: “Embraer believes strongly that Boeing has wrongfully terminated the MTA [master transaction agreement], that it has manufactured false claims as a pretext to seek [...]
Virgin Atlantic says it is still in talks with UK over bailout April 26, 2020 Virgin Atlantic today said it was still in talks with the UK government about a state bailout to deal with the travel shutdown caused by the coronavirus pandemic. The airline said talks were ongoing after the Sunday Telegraph reported that discussions had been “effectively shelved” and Virgin’s owner Richard Branson was now seeking a buyer [...]
Coronavirus: First Group receives £300m from Bank of England April 24, 2020 Transport operator First Group today announced it had received £300m from the Bank of England to help deal with the financial damage of the coronavirus pandemic. First is currently running its bus services at 40 per cent of normal capacity, although passenger numbers have dropped 90 per cent, the firm said. The company’s rail franchises [...]
Heathrow boss calls for coronavirus tests at UK airports April 24, 2020 The chief executive of the UK’s biggest airport has written to the government to call for it to introduce mass health screening at the country’s airports as part of its response to the coronavirus pandemic. Last night John Holland-Kaye wrote to health secretary Matt Hancock to demand the UK puts in place rigorous measures to [...]
Coronavirus: Transport for London to furlough 7,000 staff April 24, 2020 Tube operator Transport for London (TfL) will put 7,000 of its staff onto the government’s job retention scheme from Monday to cut costs during the coronavirus pandemic. Passenger number on TfL’s services have plummeted in recent weeks due to the coronavirus lockdown, as all but essential workers have taken to working from home. According to [...]
Lufthansa books €1.2bn first quarter loss as carrier seeks state-backed loan April 24, 2020 Late last night German state carrier Lufthansa announced it had taken a €1.2bn loss for the first quarter of 2020, raising the prospect that it could go out of business in weeks unless it receives state aid. As a result of the coronavirus outbreak, the flier has been forced to ground almost all of its [...]
FCA confirms three-month freeze for car finance payments April 24, 2020 The Financial Conduct Authority (FCA) has confirmed a three-month payment freeze for car finance payments, ruling out repossessions of vehicles during the coronavirus pandemic. Firms will freeze payments for customers facing difficulties meeting finance or leasing payments due to coronavirus. The financial watchdog said firms should also not take steps to end the agreement or [...]
Gatwick Airport says passenger numbers will take up to four years to recover April 24, 2020 Gatwick Airport said today that it would take three to four years for passenger numbers to recover to pre-coronavirus levels. Before the coronavirus decimated global air traffic, the UK’s second-busiest airport had seen passenger numbers rise to 37m in the nine months ending in December 2019. Subsequently, Gatwick has been forced to take dramatic steps [...]