Jet2 Profits grounded by pandemic
Jet2 has posted a £68.7m pre-tax loss for the six months to September 30, down from a £278m profit for the same period last year. The airline flew just 990,000 passengers in the half-year, down from 10m a year earlier as plunging demand and restrictions amid the COVID-19 pandemic. Package holiday passengers slumped to 30,000, […]
Vaccine hopes rise
Pfizer and BioNTech submit Covid vaccine for US approvalPfizer and BioNTech became the first pharmaceutical companies to apply for regulatory approval of a coronavirus vaccine after submitting their COVID-19 candidate for emergency authorisation in the US on Friday.Financial TimesCity AM
Pubs & Restaurants to bear the brunt
LEISURE AND HOSPITALITY Pubs and restaurants will bear the brunt of a new Covid tier system so that shops, cinemas and gyms can reopen under plans to be announced by Boris Johnson today. The prime minister will confirm that a revised tier system will replace the current lockdown on December 3. All shops will be […]
CBILS Loan demand soars
Close Brothers boosted by coronavirus loan demandMerchant banking group Close Brothers saw its loan book rise by 5.6% to £8bn in the three months to the end of October, with its banking division boosted by demand for financing under the Coronavirus Business Interruption Loan Scheme. Total client assets at the fund management unit climbed to […]
Start-up loans climb
Analysis shows that a record number of small companies have taken start-up loans during lockdown, with 2,670 loans provided under the British Business Bank’s start-up loan scheme. This marks an increase of almost a quarter, year-on-year.The I, Page: 44
Lenders approve mortgage holiday plan
Banks and building societies have agreed to allow six month mortgage holidays up until July 31, 2021, with the industry agreeing the move with the Financial Conduct Authority. Applications can be made until March 31. Borrowers who have used up their six-month allowance can apply for “tailored support” such as reduced payments.The Times, Page: 48
Pub chain closes 20 sites
Mitchells & Butlers confirms 20 closuresPub and restaurant chain Mitchells & Butlers has announced that 20 sites it operates are to shut as a result of the coronavirus pandemic. The firm reopened approximately 95% of sites after the first lockdown and remaining sites have been under review on a case-by-case basis. A spokesperson said: “We […]
Airlines Vaccine Boost
Vaccine news boosts airline shares With Moderna announcing that its coronavirus vaccine has proved successful in trials, listed airlines have seen share prices rise. British Airways-owner IAG, Tui, easyJet, Wizz Air and Ryanair all saw stock values climb on the news, with the prospect of a vaccine increasing hopes that travel will become less restricted […]
Oxford Vaccine could be ready before the year ends
Professor Andrew Pollard, who has led trials of Oxford University and AstraZeneca’s coronavirus vaccine, said they are on track and “optimistic” of securing approval by Christmas. Prof Pollard, who has described work on the vaccine as a “miracle” done at “record speed”, noted that the drug is easier to deliver and ten times cheaper than […]
House prices drop as duty holiday nears the end
Rightmove has revealed that with people looking to get their properties sold before the stamp duty holiday comes to an end in March 2021, the average asking price in October was £1,505 less than in September, falling 0.5% to £322,025. Analysis shows that through October, demand and activity was strongest in price bands where buyers […]