BAA loses Stansted challenge
BAA has lost a key legal challenge to overturn an order made by competition regulators forcing it to sell Stansted airport. The Court of Appeal dismissed arguments by the airports…
Spanish performance aids National Express
National Express has reported a drop in first-half profits after it lost its contract to run East Anglia trains earlier this year. But the transport group said a “reassuringly stable”…
Easyjet upgrades as fuel costs fall
EasyJet issued an upgraded full-year forecast as revenues at the group jumped 10.5 per cent in its third quarter thanks to falling jet fuel prices and an improving consumer environment.…
BAA revenue rises ahead of Olympics
BAA declared itself satisfied with Heathrow airport’s handling of the Olympic Games so far but the company is braced for disruption on Thursday if a planned strike by Border Force…
Hitachi set to secure largest UK train order
The largest and most ambitious train procurement programme undertaken in the UK is expected to be signed off this week after a delay of more than three years, creating at…
Short line and regional railways in $1.4bn deal
The two largest short-line and regional rail operators in North America said they would combine on Monday, with Genesee & Wyoming acquiring RailAmerica for $1.4bn in cash. RailAmerica, which has…
Eurotunnel shrugs off unit’s cost concern
Shares in Groupe Eurotunnel fell almost 6 per cent after the operator of the Channel tunnel said half-year operating profits had sunk in spite of a strong surge in revenues.…
ANA grounds five Boeing Dreamliner planes
ANA, the Japanese airline, grounded five of its 11 new Boeing 787 Dreamliner aircraft after a problem was identified with engines made by Rolls-Royce. Two 787s were grounded by ANA…
Founder fears contamination from Libor scandal
Sir Stelios Haji-Ioannou, easyJet’s founder, has written to shareholders urging them to oust Sir Michael Rake, the airline’s chairman. Sir Michael is also deputy chairman of Barclays, but is no…
IAG cancels bond backed by Heathrow slots
International Airlines Group has pulled plans for an innovative bond that would have used take-off and landing slots at Heathrow airport as collateral. This is believed to have been the…
Brussels investigates UPS-TNT deal
The European Commission has launched an in-depth investigation into UPS’s €5.2bn takeover bid for TNT Express, citing concern about a “very high combined market share” for parcel services. The US…
Union Pacific rolls through coal drop-off
Union Pacific, the operator of the largest US rail network, reported record quarterly net earnings of $1bn, becoming the latest big railroad to overcome slumping coal volumes to produce strong…
American Airlines boosted by fare rise
AMR Corporation, the financially troubled parent of American Airlines, its first adjusted second quarter net profit for five years and said it expected the momentum of its improvement to “build…
Aer Lingus rejects ‘not credible’ Ryanair
©PA The board of Aer Lingus has rejected Ryanair’s takeover approach as “not credible” given the regulatory hurdles it faces. The Irish flag-carrier told shareholders on Wednesday that its low-cost…
CSX steady despite continued coal slump
CSX Corporation, the largest railroad in the eastern US, showed the industry’s continued ability to withstand economic weakness when it reported second-quarter net earnings marginally up despite continuing sharp falls…