Shipping firm Clarksons swings to £10.5m loss March 9, 2020 Shipbroker Clarksons swung to a £10.5m loss for 2019 after a one off impairment charge relating to buying Norwegian rival RS Platou ASA. Clarksons wrote down the goodwill from the deal by £47.5m which pushed into the red for the year. In 2018, the company had posted a £32.7m profit. “2019 delivered robust underlying financial [...]
Boeing share price dives as regulator rejects 737 Max wiring plan March 9, 2020 Boeing’s share price dived today after the aerospace giant suffered another blow in its attempt to get its 737 Max model flying again after US regulators said its wiring bundles did not meet safety standards. Shares initially plunged over 10 per cent before recovering slightly, but the US firm was still down eight seven per [...]
Ryanair makes further cuts to Italian flights as travel lockdown begins March 9, 2020 Ryanair has announced more cuts to its flight schedules to and from Italy today after the Italian government put the north of the country into lockdown yesterday. As of tomorrow, the budget airline is suspending all Italian domestic flights to and from Milan’s Bergamo and Malpensa airports, as well as those from Parma and Treviso, [...]
Coast Capital renews attempt to force break-up of bus operator First Group March 9, 2020 Coast Capital has renewed its attempts to engineer a break-up of transport operator First Group, saying it will try to force an emergency general meeting of shareholders unless the group announces a separation. First Group has long been under pressure from several of its investors to separate the company’s North American operations into independent businesses, [...]
TfL releases designs for temporary Hammersmith Bridge March 9, 2020 Plans to build for a temporary cyclist and pedestrian bridge alongside the partially closed Hammersmith Bridge have been unveiled by Transport for London (TfL). The temporary bridge would allow the Hammersmith Bridge, which has been closed to traffic since April, to completely shut in order to prepare for restoration works. The temporary structure would provide [...]
UK aviation industry rejects decision to leave EU Aviation Safety Agency March 9, 2020 The UK aviation industry has hit back at plans to leave the European Union Aviation Safety Agency (EASA) by the end of the year, saying that the move posed a risk to highly skilled jobs in the UK. The calls come after US magazine Aviation Week reported that transport secretary Grant Shapps had confirmed that [...]
Coronavirus: TfL worker tests positive for Covid-19 March 9, 2020 A Transport for London (TfL) worker has tested positive for coronavirus, it was reported, as the outbreak continues to spread across the UK. The employee in question works at the body’s control centre at Palestra House in Blackfriars, rather than on a part of the underground network, TfL confirmed. TfL said that it had ordered [...]
Mind the gap: How to level up transport networks across south London March 9, 2020 It is widely acknowledged that south London’s transport links are inferior to those north of the river. By taking a cursory glance at the Tube map, it becomes blindingly obvious that there is a clear disparity between the two parts of our city, with several multi-coloured lines stretching well into the north in stark contrast [...]
Flybe’s last flight: How Europe’s biggest regional airline met its demise March 9, 2020 At 8.30pm on Wednesday evening, passengers were still being ushered onto planes bearing the indigo livery of Flybe. Half an hour later, members of the cabin crew on one of its last ever flights, from Manchester to Belfast, were crying, having just lost their jobs. “Staff in tears. This is so grim,” tweeted Holly Hamilton, [...]
Norwegian under scrutiny amid concerns over carrier’s debt pile March 8, 2020 A number of hedge funds have increased their bets against Norwegian Air amid concerns that the low-cost carrier could follow Flybe into bankruptcy due to the slump in demand due to the coronavirus outbreak. According to IHS Markit data obtained by the Sunday Telegraph, nearly 16 per cent of the airline’s stock is on loan [...]
