Skip to content
Search

Latest Stories

Heathrow says Ukraine, fuel prices ratchet up uncertainty

Heathrow says Ukraine, fuel prices ratchet up uncertainty

LONDON'S Heathrow said concerns from US travellers over the war in Europe, longer flight times to avoid closed airspace, and higher fuel prices had added to lingering worries about Covid-19, creating "huge uncertainty" over the recovery in flying.

The UK's largest airport said it had not seen as many passengers return last month as it expected, with 2.8 million passengers travelling through the hub, just over half of pre-pandemic levels and 15 per cent below its forecast.

LONDON'S Heathrow Airport LONDON'S Heathrow Airport

Heathrow CEO John Holland-Kaye said: "Aviation's recovery remains overshadowed by war and Covid uncertainty."


MORE ON RUSSIA-UKRAINE WAR

Ukraine's Zelenskyy urges Britain to 'do more to help'

Andy Murray to donate prize money to help Ukrainian children

Estimated Loss 

Deaths - Atleast 13 K

Property Damage - US$119B

(FromReuters : 3/11 & 13:51 London, UK)


The airport said outbound traffic was recovering strongly but demand from inbound leisure and business travel remained suppressed by Covid-19 testing and quarantine requirements in place in nearly two-thirds of the markets it served.

"While we hope that these will be removed, we also face headwinds from higher fuel prices, longer flight times to destinations impacted by airspace closures, concerns from US travellers over war in Europe and the likelihood of new 'Variants of Concern', which together create huge uncertainty over the passenger forecasts this year," it said.

(Reuters)

More For You

Deliveroo posts first annual profit after 12 years

A Deliveroo rider near Victoria station in London, England. (Photo by Dan Kitwood/Getty Images)

Deliveroo posts first annual profit after 12 years

FOOD DELIVERY app Deliveroo announced on Thursday (13) its first annual profit as orders and revenue rose, while the 12-year old company sees further growth despite exiting Hong Kong.

The milestone follows sizeable full-year losses owing to high investment costs since American Will Shu founded the company in 2013 and made Deliveroo's first delivery in London.

Keep ReadingShow less
JLR-Tata-Getty

JLR had initially planned to manufacture more than 70,000 electric vehicles at the facility. (Photo: Getty Images)

JLR halts plan to build EVs at Tata’s India plant: Report

JAGUAR LAND ROVER (JLR) has put on hold plans to manufacture electric vehicles at Tata Motors’ upcoming £775 million factory in southern India, according to a news report.

The decision was influenced by challenges in balancing price and quality for locally sourced EV components, three of the sources said. They added that slowing demand for electric vehicles was also a factor.

Keep ReadingShow less
Government to abolish payments regulator to boost growth

Keir Starmer (R) and Rachel Reeves host an investment roundtable discussion with members of the BlackRock executive board at 10 Downing Street on November 21, 2024 in London, England. (Photo by Frank Augstein - WPA Pool/Getty Images)

Government to abolish payments regulator to boost growth

PAYMENTS REGULATOR will be abolished and its remit absorbed by another financial regulator, the government said on Tuesday (11), as it aims to cut red tape in favour of growth.

The Payment Systems Regulator (PSR), which oversees systems including MasterCard and bank transfers, tackles problems such as fraud, excessive fees and lack of competition among banks and payment providers.

Keep ReadingShow less
Boohoo

Boohoo’s shares, which have fallen by about 20 per cent this year, dropped 4 per cent on Tuesday. (Photo: Getty Images)

Boohoo rebrands as Debenhams after 21 per cent sales drop

BOOHOO has rebranded itself as Debenhams Group after sales from its young fashion brands, including Boohoo, MAN, and PrettyLittleThing, declined by 21 per cent to £947 million.

The move comes amid strong competition from Shein and a shift towards second-hand clothing among younger shoppers, The Guardian reported.

Keep ReadingShow less