LONDON (Reuters) – Thomas Cook (TCG.L: Quote, Profile, Research, Stock Buzz) raised its revenue and cost-cutting targets in the latest stage of a profit-boosting turnaround at the world’s oldest travel firm, sending its shares to a near three-year high.
The tour operator is recovering from a dramatic slump over the past three years, hit by the euro zone debt crisis, high fuel costs and political turmoil in popular holiday destinations such as Greece, Egypt and Tunisia.
LONDON (Reuters) – British budget airline easyJet (EZJ.L: Quote, Profile, Research, Stock Buzz) reported a sharp rise in annual profit and said it would pay a 175 million pound ($282 million) special dividend to shareholders, underlining its advantage over larger Irish rival Ryanair (RYA.I: Quote, Profile, Research, Stock Buzz).
EasyJet’s pretax profit rose 51 percent in the financial year ended September, helped by the introduction of allocated seating across its routes and strong revenues in many of its European markets.
OXFORD (Reuters) – BMW (BMWG.DE: Quote, Profile, Research, Stock Buzz) unveiled a more fuel efficient, third-generation version of its iconic Mini on Monday, as the world’s biggest luxury carmaker looks to retain its leadership in the lucrative high-end compact car market.
The launch of the three-door hatchback took place at the Mini’s production plant in Cowley, Oxford, on the 107th anniversary of the birth of the Mini’s founding father Alex Issigonis. Prices will start at about 13,500 pounds ($21,700).
LONDON, Nov 15 (Reuters) – International Airlines Group
has raised its 2015 profit target, showing confidence
in the growth of transatlantic travel and turnaround plans for
its Spanish airlines, bucking the trend in a sector hit by weak
European markets and high fuel prices.
IAG, which owns British Airways (BA) and Spain’s Iberia and
Vueling, on Friday raised its 2015 operating profit goal to 1.8
billion euros ($2.4 billion) from 1.6 billion, citing savings
from integrating budget carrier Vueling, which it took control
of this year, improved margins at BA and a recovery at Iberia.
LONDON, Nov 1 (Reuters) – British aircraft parts supplier
Meggitt lowered its full-year revenue guidance after
several setbacks including production problems in the United
States hit third quarter trade, sending its shares sliding on
The supplier of avionics and wheels to planemakers Airbus
and Boeing said it had experienced “production
difficulties” at its Sensing Systems business and discovered a
“raw material supply issue” dating back to 2012, which it has
put 20 million pounds ($32 million) aside to cover.
LONDON, Oct 28 (Reuters) – A strong storm battered Britain
and the Netherlands on Monday, killing three people, cutting
power and forcing hundreds of plane and train cancellations as
it moved on across mainland Europe.
Winds of up to 99 miles per hour (160 km per hour) lashed
southern England and Wales, disrupting the travel plans of
millions of commuters – the worst storm recorded in Britain in a
LONDON (Reuters) – Britain’s strongest storm in a decade battered southern regions on Monday, forcing hundreds of flight cancellations, cutting power lines and disrupting the travel plans of millions of commuters.
Winds of up to 99 miles per hour (160 km per hour) lashed southern England and Wales in the early hours of Monday, shutting down rail services in some areas during rush hour.
LONDON (Reuters) – Recovering Spanish carrier Iberia will return to profit next year for the first time since 2010, the chief executive of its parent International Airlines Group (ICAG.L: Quote, Profile, Research, Stock Buzz) said.
The Spanish airline became unprofitable in all markets, including long-haul, following its merger with British Airways in 2011. It was hit by competition from low-cost rivals and high-speed trains, labor disputes and a recession that has left a quarter of Spaniards out of work.
LONDON (Reuters) – Aston Martin ASTON.UL has abandoned its attempt to tap into the popularity of so-called city cars after selling fewer than 150 of its “Cygnet” model, an embarrassing blow to the struggling 100-year-old British luxury sports car maker.
A source close to Aston Martin said its two-door Cygnet, which started production in 2011 based on the Toyota 77203.T iQ but was marketed at three times the price, had been dropped from the company’s line-up after dismal sales of the 32,000 pound ($51,500) vehicle.
LONDON (Reuters) – Carnival Corp (CCL.N: Quote, Profile, Research, Stock Buzz) said it will take up to three years for its Costa brand to recover its reputation and profitability after its Concordia ship sank off the Italian coast last year.
“There are a lot of great brands that have had setbacks and they’ve recovered … but the economic situation in southern Europe isn’t helping,” Carnival chairman Micky Arison said at a press conference in London on Tuesday.