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Coronavirus: Virgin Atlantic finalises £1.2bn rescue deal

Sir Richard Branson's airline pulls off the

£180m overhaul planned to boost rail connectivity into West Midlands

Regional transport chiefs lobbying government to back new proposals which will offer 2.2m people direct services into Birmingham International and Coventry stations

Wednesday, 15 July 2020

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  • Banksy creates mask-themed work on London UndergroundCoronavirus-inspired stencils on tube train feature rats with surgical face masks and hand sanitiserCoronavirus – latest updatesSee all our coronavirus coverageBanksy has entered the mask debate with his latest typically playful work: a series of stencils on the London Underground that feature his trademark rats struggling to come to terms with surgical masks.In a video posted on his Instagram page, the street artist is seen entering an underground train carriage while dressed as a member of the cleanup crew before stencilling the rats, which are depicted as using the masks as parachutes and d...
  • Virgin Atlantic agrees £1.2bn rescue deal amid coronavirus slumpInvestors pump in funds, loans and deferrals alongside Branson’s £200m injectionCoronavirus – latest updatesSee all our coronavirus coverageVirgin Atlantic has announced a £1.2bn rescue deal to allow Sir Richard Branson’s grounded passenger airline to survive another 18 months of turmoil and aim to return to profit in 2022, after four months without scheduled flights.The privately funded recapitalisation package, a combination of cash injections, loans, and deferrals, was finally confirmed on Tuesday after weeks of talks with potential investors, after Virgin’s attempts to garner state support...
  • British Airways to sell art collection to ease Covid-19 pressuresMultimillion-pound collection features work by Bridget Riley, Damien Hirst and Marc QuinnBritish Airways is selling its multimillion-pound art collection, including work by Bridget Riley and Damien Hirst, as it attempts to raise funds while the Covid-19 crisis continues to devastate the aviation sector.The Sotheby’s sale will include several artworks that could fetch six-figure sums and have previously decorated BA’s executive lounges and company headquarters. Continue reading...

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  • Rail plan to boost airport numbers New rail services could connect millions of extra people to Birmingham International Airport as part of coronavirus recovery plans submitted to the Government today.

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Chartered Institute of Logistics and Transport

  • DfT seeks views on decarbonisation planThe Department for Transport (DfT) is seeking views on the transport decarbonisation plan, first announced in 'Decarbonising transport: setting the challenge'.  The responses will assist in drafting the plan and deciding on the steps we take to decarbonise transport. CILT members are encouraged to take part in a survey and help shape the future of the profession.  The closing date for responses is Monday 31 August 2020.  The survey can be found here. 

Rail Technology Magazine

  • ORR publishes rail safety report The rail regulator’s Annual Report of Health and Safety Performance on Britain’s Railways shows that despite safety across Britain’s railways has developed over the last 12 months, exceptional seasonal weather conditions continue to unfavourably affect safety performance. The...
  • HS2 contractors begin work on Euston station site Work to construct the HS2 London station at Euston has taken a significant step forward this month (July). Contractors Mace Dragados joint venture has moved onto the construction site next to to Euston station to commence work on the new high-speed station in central London. Mace Dragados were...

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  • TfL reintroduces bus fares across LondonReintroduction of revenue collection on London buses completed last weekend   All London buses once again require passengers to pay a fare after Transport for London and the capital’s operator’s announced they have completed a programme to install additional safety measures across the bus fleet. Passengers are now required to touch in with Oyster, contactless and concessionary cards on all buses, entering through the front doors on most buses in a near complete return to traditional front-door boarding arrangements. The reintroduction of revenue collection and front-door board...
  • First Bus ramps up capacityMove follows new guidance from governments First Bus was the first operator to introduce seat markings to assist with social distancing   First Bus has confirmed that as of this week the capacity across its buses will increase to 50%. It follows the reduction of social distancing restrictions in England, Scotland and Wales, the operator has worked quickly to implement the changes safely, in line with changing advice from the governments. Vehicles have been updated with new layouts and signs to inform customers of the additional seats which have now made available on board. All changes hav...
  • Cost of the failed Reigate cycle lane scheme revealed The cycle lane lasted no longer than one weekend in Reigate town centre
  • Brighton residents making £162 a month renting out driveways HOMEOWNERS across Brighton are raking in cash by renting out their empty driveways to seaside visitors.

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