Covent Garden leasing demand drives Capital & Counties rental growth February 23, 2022 Capital & Counties Properties has revealed strong demand levels for leasing in Covent Garden was one of the main drivers behind the company’s valuation uplift in the second half of 2021. In the year ended 31 December, the property investment giant reported a total equity of £1.8bn, while underlying net rental income increased from £43.6m [...]
£3.8bn stall but still flying: UK’s biggest airport looks ahead after ‘worst year in Heathrow’s history’ February 23, 2022 Heathrow has revealed 2021 was the worst year in its history, as passenger numbers fell to 19.4 million – the lowest since 1972 – while cargo went down 12 per cent as a result of the pandemic’s impact on aviation. In the year ended 31 December, the London hub reported that, despite its efforts to [...]
Rio Tinto to pay out biggest-ever dividend to shareholders after achieving record earnings of £15.7bn February 23, 2022 Mining firm Rio Tinto achieved record financial results in 2021, recording a free cash flow of £13bn and underlying earnings of £15.7bn. The figures led to the company paying its biggest ever dividend to shareholders. Net cash generated from the iron ore producer’s operating activities improved 60 per cent on 2020 levels while profit after [...]
Easyjet on track to rejoin FTSE100 February 22, 2022 Low-cost carrier Easyjet is on track to be added into the FTSE100, almost two years after falling from the index as a result of the pandemic’s economic impact. In an indicative review sent around today, benchmarking provider FTSE Russell reported the company’s potential addition to the index, adding the confirmation will be announced after market [...]
Dubai: World’s busiest airport believes post-Covid recovery to be achieved by 2024 February 22, 2022 Even though it was crowned the world’s busiest airport for the eighth consecutive year, Dubai airport will see passenger numbers come back not before 2024. According to the hub’s boss Paul Griffiths, despite 29.1 million passengers registered in the last year – 12.7 per cent up on 2020, traffic is “nowhere near pre-pandemic levels.” “It [...]
Airbus joins Safran subsidiary to develop hydrogen-fuel technology demonstrator February 22, 2022 Airbus announced it has joined a partnership with engine manufacturer CMF International to develop a demonstrator to test hydrogen-fuel technology for planes. The plane maker said that, by focusing on the project, it would hope to have hydrogen-fuelled aircraft enter into service by 2035. “Our ambition was to market a carbon neutral aircraft by 2023,” [...]
Wizz Air shares dip as airline continues to operate in Ukraine February 22, 2022 Shares of low-cost airline Wizz Air have dipped today, going down 1.43 per cent to close at 3,988p, as the company announced it will continue to operate in Ukraine despite the imminent threat of a Russian invasion. “Wizz Air is committed to continuing to fly to Ukraine and the country remains an important part of [...]
Virgin Hyperloop halves staff following shift from passenger to cargo February 22, 2022 Virgin Hyperloop – Richard Branson’s hyperloop subsidiary – has decided to halve its staff as a result of its shift from passenger to cargo operations. The company, which backed by Virgin Group and ports operator DP World, has recently made 111 members of its staff redundant after getting rid of the firm’s management. Virgin Hyperloop’s [...]
Heathrow’s boss steps down from government panel following airlines backlash February 22, 2022 Heathrow’s chief executive John Holland-Kaye has stepped down form a civil service panel after he faced backlash from airlines. Holland-Kaye was part of a Department for Transport (DfT) panel in charge of choosing the director general of aviation, maritime and security industries but decided to step down once airlines criticised his presence, saying it tainted [...]
Storm Eunice hits UK shipping hard causing port closures and bottlenecks February 22, 2022 The wreckage caused by Storm Eunice over the weekend didn’t only halt the UK’s road, rail and aviation networks but created unfathomable damages also the UK ports and the overall shipping industry. As a result of the 122mph high winds that stroke across the country, cross-channel ferries were cancelled on Friday, leading to additional bottlenecks [...]
