Cruise operator Saga in talks with lenders as debt mounts January 26, 2021 Over 50s holiday and insurance provider Saga revealed this morning that it is in talks with lenders about its debt levels as restrictions on travel during the pandemic continue to have a negative impact on its business. Saga it has “significant liquidity and headroom to the current covenants in short term bank facilities”, but it [...]
Tourism bodies want way out of ‘catastrophic’ border controls amid risk of repeat of 2020’s £24bn in losses January 25, 2021 Tourism bodies want way out of 'catastrophic' border controls amid risk of repeat of 2020's £24bn in losses
Airline and travel stocks plunge as markets await new border controls January 25, 2021 Share went sliding on Monday for travel and transport companies, as news broke that all UK arrivals could face quarantine
Gatwick Airport borrows extra £75m from government due to pandemic January 24, 2021 Gatwick Airport has borrowed an extra £75m from the government to bolster its finances due to the ongoing impact of the pandemic on the travel sector. The airport has reportedly borrowed £250m so far under the Covid Corporate Financing Scheme, after being forced to keep applying for new funds due to lockdowns and restrictions on [...]
TfL needs government support for next two years to stay afloat, says boss January 24, 2021 Transport for London (TfL) will need government financial support for the next two years to stay solvent, according to body’s commissioner. Andy Byford said today that “without government support, and with the chaos that Covid and the decimation on our finances that Covid has wrought, we absolutely will be needing financial support in the short [...]
Two rail lines closed in 1960s to receive £800m investment boost January 23, 2021 Two railway lines closed to passengers more than 50 years ago will be brought back to life with almost £800m of funding from the government. East West Rail, which will eventually connect Oxford and Cambridge, has been granted £760m to reopen for the first time since 1968. Ministers have also pledged £34m to accelerate plans [...]
Ministers to discuss hotel quarantine for UK arrivals January 23, 2021 Travellers returning to the UK could be forced to spend 10 days in quarantine in a hotel under plans being drawn up by the government. Ministers will meet on Monday to discuss tightening rules at UK borders amid fears about new mutant strains of the virus, according to media reports. The hotels would be staffed [...]
Car industry straps in for rough ride in 2021 January 23, 2021 2020 was one of the worst years the UK car industry has ever experienced, with shuttered factories and closed showrooms due to Covid-19 leading to a record slump in production and sales. But barring a disaster on the same scale, the industry is confident that it will begin to recover this year, even though the [...]
Airline, hotel and travel shares slump on summer holiday warnings and UK quarantine rumours January 22, 2021 Shares in airline, hotel and travel companies have sunk today, after UK Government ministers poured cold water on summer holidays being back to normal this year.
Irish court extends Norwegian creditor protection after carrier receives state backing January 22, 2021 The Irish High Court has this morning extended Norwegian Air’s creditor protection until 25 February. The court granted the extension after the examiner said that the airline had a reasonable prospect of survival. The decision comes after the Norwegian government said yesterday that it would back the airline’s new restructuring plan. Norwegian is planning to [...]
