Car insurance prices sink to lowest in seven years May 5, 2022 Car insurance prices have, on average, sunk to the lowest since 2015, the Association of British Insurers (ABI) announced today. Comprehensive prices, which are now at £416, dropped 5 per cent compared with 2021 levels following the Financial Conduct Authority’s decision to offer both new and returning customer the same tariff, and end “loyalty premiums.” [...]
Air France-KLM beats quarterly forecasts following boom in travel bookings May 5, 2022 Air France-KLM announced it has beaten its own profit forecasts for the first quarter following a boom in travel bookings. In the three months ended 31 March, the French-Dutch power house posted a €221m EBITDA, a 135 per cent increase on last year’s losses worth €628m. Despite taking a hit as a result of the [...]
Lufthansa to offset fuel prices following bigger than expected quarterly loss May 5, 2022 Lufthansa said it will offset higher fuel prices in the second quarter of 2022 after it delivered a bigger than expected loss in the first one. Despite narrowing its adjusted loss before interest and taxes from €1.05bn to €591m, the airline’s losses were still higher than the company-provided analyst consensus of €558m. The carrier said [...]
Trainline focuses on EU expansion but remains in talks with government over rival app May 5, 2022 Trainline said it was focusing on expanding its international presence while remaining in talks with Westminster over the development of a government-funded rival ticketing app. In the 12 months ended 28 February, the company’s international revenues grew 85 per cent to £21m due to sales reaching £418m, while profits soared by 105 per cent. Trainline’s domestic [...]
No delays for pandemic recovery as London City Airport welcomes 35 per cent more passengers May 5, 2022 London City Airport has crowned April its busiest month since the pandemic, after the hub reported a 35 per cent increase on March levels. Over the last month, 256,000 people passed through London City’s gates, up on the 189,000 registered a month earlier. The airport – now at 61 per cent of 2019 levels – [...]
Bentley profit jumps 162 per cent despite lost cargo May 5, 2022 Bentley announced its first quarter profit jumped 162 per cent even though it lost 200 cars in a shipping fire. In the three months ended 31 March, the British luxury car maker posted a €170m (£144.4m) operating profit, while revenues went up to a total of €813m after returns per car increased 15 per cent, [...]
Most Londoners worried about TfL while third support extra road charges to save it from financial ‘black hole’ May 5, 2022 Most Londoners are worried about Transport for London’s (TfL) financial future, while a third support extra road charges as a way to save it from a £1.5bn financial “black hole.” According to a survey published yesterday by think tank Centre for London, 69 per cent of Londoners are worried about the financial future of TfL, [...]
Tail between the legs: NYC-bound Virgin Atlantic plane u-turns due to ‘rostering error’ May 5, 2022 A Virgin Atlantic plane was forced to go back to Heathrow due to one of its pilots being not properly trained. The plane, which was headed towards New York, was 40 minutes into its journey on Monday when the personnel realised there had been a “rostering error” which put a not fully qualified pilot on [...]
UK automotive production outlook downgraded following April slump May 5, 2022 The automotive industry was forced to downgrade its 2022 production outlook after the number of cars built in April slumped 15.8 per cent. Data published today by the Society of Motor Manufacturers and Traders (SMMT) revealed the number of new car registrations fell to 119,167 units due to covid-induced semiconductor shortages. The decline, the data [...]
Shell profits fuel calls for windfall tax: Record results come days after BP bumper earnings May 5, 2022 Shell has further fuelled demands for a windfall tax on the sector as it revealed record first-quarter profits thanks to soaring oil and gas prices, just days after bumper earnings from rival BP. The oil giant posted better-than-expected underlying earnings for the first three months of 2022, at £7.2bn – nearly three times the £2.5bn [...]
