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Tag: Airlines

Former Flybe shareholder plots regional airline’s revival

Former Flybe shareholder plots regional airline’s revival

Business
A shareholder in Flybe when it collapsed this year with the loss of thousands of jobs is in talks with its administrators about a potentially controversial bid to resuscitate the regional airline. Sky News has learnt that Cyrus Capital, a hedge fund with offices in Mayfair, is behind a plot to reacquire some of Flybe's assets, despite the devastating impact of the coronavirus pandemic on Britain's aviation industry. Cyrus Capital, which is run in Europe by Lucien Farrell, is understood to be in discussions with EY - which was appointed to handle the company's insolvency in March - about a deal.It is said to want to relaunch a smaller version of Flybe next year, although the precise timetable would be subject to a recovery in passenger demand and the removal of coronavirus-related quarantin...
India’s top court orders airlines to refund bookings during coronavirus lockdown

India’s top court orders airlines to refund bookings during coronavirus lockdown

Finance
NEW DELHI: India's top court on Friday ordered airlines to refund passengers who were forced to cancel tickets booked during a two-month, nationwide lockdown to stop the spread of the novel coronavirus. The Supreme Court told airlines to refund the money within three weeks in a decision that will add to the burden on cash-strapped Indian carriers whose revenues have been hit by coronavirus restrictions on air travel. The lockdown, imposed on March 25, banned domestic and international travel, closed factories, schools, offices and all shops other than those supplying essential services. It caused extensive economic disruption and measures were eased from May as the virus was still spreading. Indian airlines, including Vistara, a joint venture between Tata Sons and Singapore Airlines, IndiG...
Britain to launch 14-day quarantine for arriving travelers, airlines say

Britain to launch 14-day quarantine for arriving travelers, airlines say

World
May 9 (UPI) -- British airlines said they have been told the government is planning a 14-day quarantine for anyone arriving there from any country other Ireland. Government and aviation sources told BBC News the quarantine means people might have to provide an address as they arrive at the border. The implementation of the quarantine is expected to happen by the end of the month. Air passengers arriving in Britain would have to self-isolate for 14 days in a private residence. Details such as whether arriving travelers will be able to stay in a rented private place and how long the quarantine policy will remain in effect remain unclear. "We need to see the details of what they are proposing," said Airlines UK, which represents British Airways, EasyJet and other British-based airlines, in...
Stocks making the biggest moves after hours: Bed Bath & Beyond, JC Penney, United Airlines and more

Stocks making the biggest moves after hours: Bed Bath & Beyond, JC Penney, United Airlines and more

Finance
A pilot walks by United Airlines planes as they sit parked at gates at San Francisco International Airport on April 12, 2020 in San Francisco, California.Justin Sullivan | Getty ImagesCheck out the companies making headlines after the bell.Bed Bath & Beyond — The home goods retailer's stock soared 12% in extended trading after the company posted a double beat on earnings and revenue in the fourth quarter. Bed Bath & Beyond reported earnings of 38 cents per share excluding some items on revenue of $ 3.11 billion, while analysts polled by Refinitiv expected earnings of 20 cents per share on revenue of $ 3.07 billion. The company also announced that its first quarter and full-year 2020 results will be negatively impacted by the coronavirus and declined to provide guidance for fiscal 2
Coronavirus: Airlines slash more flights

Coronavirus: Airlines slash more flights

Business
Travel restrictions and a slump in demand as a result of the coronavirus pandemic have forced airlines to lay off staff and cut more flights.On Monday, British Airways owner IAG said it planned to cut capacity by at least 75% in April and May.IAG boss Willie Walsh, who was due to step down this month, will now stay in his post to manage the crisis.Meanwhile, EasyJet said it may have to ground most of its planes as a result of travel bans and falling demand.The no-frills airline said it had cancelled a "further significant" number of flights."These actions will continue on a rolling basis for the foreseeable future and could result in the grounding of the majority of the EasyJet fleet," it said.The announcements hit the airlines' share prices, with EasyJet...