Category: Business

Official figures show that the British economy ended 2020 on a stronger footing than previously thought but that it suffered a bigger than anticipated fall in output in the immediate aftermath of the first coronavirus lockdown. In its latest revisions for 2020 data, the Office for National Statistics said Wednesday that the British economy contracted […]

Delta Air Lines (DAL.N) said late on Friday it will soon send warning notices to about 2,500 pilots regarding possible furloughs at the airline, as the industry takes a huge blow after the coronavirus pandemic slashed air travel demand. “In an effort to best prepare our pilots should furloughs be needed, Delta will send required […]

Wirecard, the German scandal-hit payments company, said on Saturday it would proceed with business activities after filing for insolvency and expects a provisional administrator to be appointed by judicial authorities shortly. “The management board is of the opinion that continuation is in the best interests of the creditors,” it said in a statement. “Whether insolvency […]

American Airlines Group Inc (AAL.O) expects to have between 10% and 20% more workers than needed in July 2021, Chief Executive Doug Parker told employees at a town hall this week, and said that avoiding furloughs will be difficult. Weathering a sharp hit to business due to the coronavirus pandemic, American and other U.S. airlines […]

Athletic apparel maker Under Armour (UAA.N) said on Saturday it will discontinue its partnership with UCLA – a 15-year, $280 million accord announced in 2016 that was billed as the largest apparel deal in the history of American collegiate sports. The University of California, Los Angeles promised to fight the move. The Baltimore-based company said […]

China’s three biggest state-owned airlines on Sunday took delivery of their first ARJ21 aircraft, a short haul 90-seater aircraft made by state-run Commercial Aircraft Corporation of China (COMAC). COMAC said in a statement on Sunday that Air China Ltd (601111.SS), China Eastern Airlines Corp Ltd (600115.SS) and China Southern Airlines Co Ltd (600029.SS) had received […]

Ryanair (RYA.I) has threatened to close two regional bases and axe up to 120 pilot jobs unless pilots in its home Irish market bypass their union and directly accept a pay cut. Europe’s largest low-cost carrier is demanding pay cuts of up to 20% and changes to work practices across Europe. It has said it […]