Coronavirus: Ryanair ‘does not expect to operate flights in April and May’ March 24, 2020 Ryanair has confirmed that it “does not expect to operate flights in April and May” due to the coronavirus epidemic, a week after warning that it would ground “most, if not all” of its planes. The budget carrier has instead offered its aircraft to all EU governments to use for repatriating civilians and to transport [...]
Coronavirus: Government decision to take over rail network raises questions over Williams review March 23, 2020 The government’s decision to bring the UK’s rail network under the management of the Department for Transport for the duration of the coronavirus crisis has raised questions over the future of the rail franchising system. Former chairman of British Airways Keith Williams is currently conducting a “root and branch” review of the current system ahead [...]
Coronavirus: Tube drivers ‘furious’ at people still commuting March 23, 2020 Tube drivers are “furious” at the amount of people still catching the Tube in rush hour, according to a London Underground union boss. Social media was awash this morning with photos of packed Tube trains, despite the government instructing people to not use public transport unless they were an “essential worker” going to their workplace. [...]
Flying taxi startup Lilium raises $240m in funding round March 23, 2020 German flying taxi firm Lilium has raised an extra $240m (£207m) in funding from backers such as Chinese tech firm Tencent. The new funds mean that the startup has now raised more than $340m, which it will use for further development of its prototype jet as well as preparing its facilities to begin production. The [...]
Morrisons cuts fuel prices as oil prices dip lower March 23, 2020 Supermarket Morrisons has announced a reduction in forecourt fuel prices. Effective from today, unleaded and diesel will be reduced by 12 and 8p a litre respectively. Morrisons said this will save the average customer £6 on unleaded and £4 on diesel. Although prices vary locally, Morrisons currently charges 116p a litre for unleaded and 118.5p [...]
Coronavirus: Singapore Airlines cuts 96 per cent of flights after travel ban March 23, 2020 Singapore Airlines has warned that the coronavirus epidemic represents the “greatest challenge” it has ever faced as the flag carrier cut 96 per cent of its passenger flights in response to the crisis. Late last night the island city-state took extreme steps to combat the spread of the disease by banning all inbound travellers. In [...]
Coronavirus: Airbus draws new €15bn credit line and cancels dividend March 23, 2020 Aerospace giant Airbus has taken drastic steps to mitigate the financial impact of the coronavirus epidemic, including securing a new €15bn credit facility. The world’s largest plane manufacturer has also suspended its guidance for the coming financial year and binned its 2019 dividend, which was worth approximately €1.4bn. Airbus will also pause its voluntary top [...]
Stagecoach and Go-Ahead scrap dividends over coronavirus March 23, 2020 Stagecoach has issued a coronavirus profit warning today as both it and Go-Ahead scrapped their dividends as travel restrictions bite. The operator warned it will now miss its target for adjusted earnings per share for the 12 months to the start of May. “The quickly developing Covid-19 situation means we no longer expect to achieve [...]
Coronavirus: Government temporarily suspends rail franchise agreements March 23, 2020 The Department of Transport is taking emergency measures to help the rail network survive a 70 per cent drop in passenger numbers as coronavirus prevents travel across the UK. Rail franchise agreements have been suspended temporarily to avoid collapse, and the government will instead pay train companies a small fee to keep operating some services. [...]
Richard Branson pledges $250m to protect jobs from coronavirus March 22, 2020 Richard Branson has pledged that his Virgin empire will invest $250m over the next few months to protect jobs from the impact of the coronavirus pandemic. The entrepreneur, who owns the Virgin Atlantic airline, said many of his businesses in the travel and leisure sector were in a “massive battle” to survive as flights have [...]
