Following weeks of speculation from media and industry sources, Virgin Atlantic has confirmed that it has closed a £1.2 billion rescue deal. On Tuesday, the beleaguered British carrier announced that it had settled on a privately-funded recapitalisation package – one that largely mirrors leaked reports. New York-based hedge fund Davidson Kempner (DK) will provide about
British Airways has confirmed that it is poised to auction off 17 pieces of artwork from its corporate collection on 28 July, in a bid to raise much-needed cash. First to go under the hammer at Sotheby’s “Rembrandt to Richter” event will be Bridget Riley’s “Cool Edge” (pictured below). Demoted from pride of place at
Japanese start-up SkyDrive is gearing up for the first public demonstration of its “flying car” – an electric vertical take-off and landing (eVTOL) aircraft prototyped for urban air mobility. Just seven months after achieving the first unmanned outdoor sortie in December 2019, the company has announced a plan to demonstrate a manned flight to the
Alaska Airlines Flight 422 has been turned back shortly after departing Seattle-Tacoma International Airport, after a passenger threatened to “kill everyone on board”. The plane, which departed on Saturday at 11:10pm bound for Chicago O’Hare, was still in ascent phase when the passenger became belligerent. A spokesperson for the airline said that the passenger became
Ryanair flight FR1902 from Krakow to Dublin was forced to make an emergency landing in London on Monday, after a note alleging a bomb threat was found on board. The note was reportedly found in one of the plane’s toilets, claiming that there were explosives onboard the aircraft. The flight took off from Krakow John
London Heathrow Airport will close one of its two runways following a 90 per cent drop in traffic caused by the coronavirus pandemic.
