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

Shein-Reuters

Shein had aimed to go public in London in the first half of this year, subject to regulatory approvals in the UK and China. (Photo: Reuters)

Shein cuts valuation to £40 billion for London listing

SHEIN is preparing to lower its valuation to around £40 billion for a potential initial public offering (IPO) in London, according to three Reuters sources familiar with the matter.

This is nearly 25 per cent lower than the company's 2023 fundraising valuation as it faces increasing challenges.

Keep ReadingShow less
Northern-Superchargers-Getty

Ben Stokes and Matthew Short of Northern Superchargers walk out to bat during The Hundred match between Manchester Originals and Northern Superchargers on August 11, 2024 in Manchester, England. (Photo: Getty Images)

Sunrisers Hyderabad to acquire Northern Superchargers in £100 million deal

INDIAN Premier League franchise Sunrisers Hyderabad is set to become the first full owners of an English Hundred team after agreeing to buy Yorkshire’s Northern Superchargers for a reported £100 million.

The Sun Group will be the third IPL-linked investor in the eight-team Hundred competition, following Reliance Industries, which owns Mumbai Indians, and RPSG, which runs Lucknow Super Giants.

Keep ReadingShow less
BT-Getty

A view of the British Telecom (BT) headquarters in central London. (Photo: Getty Images)

BT to remove diversity targets from manager bonuses

BT will remove diversity, equity, and inclusion (DEI) targets from its manager bonus scheme, replacing them with a measure of overall employee engagement.

The change, set to take effect in April, follows consultation with major investors and has received “strong support,” according to the company, The Telegraph reported.

Keep ReadingShow less
India's central bank cuts interest rates for first time since 2020

The central bank announced a 25-basis-point cut in the benchmark repo rate to 6.25 per cent, the rate at which it lends to commercial banks.. (Photo credit: Reuters)

India's central bank cuts interest rates for first time since 2020

THE RESERVE BANK OF INDIA (RBI) reduced interest rates on Friday for the first time in nearly five years, citing concerns over economic growth despite inflation risks.

The central bank announced a 25-basis-point cut in the benchmark repo rate to 6.25 per cent, the rate at which it lends to commercial banks.

Keep ReadingShow less
Sri Lanka seeks to negotiate with Adani over renewable energy plants

Gautam Adani

Sri Lanka seeks to negotiate with Adani over renewable energy plants

SRI LANKA’S government started talks with India’s Adani Group to lower the cost of power from two wind power projects the group will build in the island nation’s northern province, the cabinet spokesman said last Tuesday (28).

Sri Lanka has been reviewing the group’s local projects after US authorities in November accused billionaire founder Gautam Adani and other executives of being part of a scheme to pay bribes to secure Indian power supply contracts. Adani has denied the allegations.

Keep ReadingShow less