Fire that shut Heathrow was caused by a preventable technical fault known for years, report finds
Europe's busiest air hub shut for about 18 hours in March after a fire knocked out one of the three electrical substations that supply Heathrow with power. More than 200,000 passengers had journeys disrupted.
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Skift
30 minutes ago
- Skift
Air France-KLM Eyes Majority Control of SAS in Nordic Power Play
We've known since Air France-KLM's initial deal last summer that a majority stake was an option, but the speed and scale of the proposed transaction remains notable. Air France-KLM announced Friday that it is to buy a majority stake in SAS Scandinavian Airlines. The Franco-Dutch group already owns 19.9% of SAS's share capital – a holding it secured last year. The proposed transaction will see this rise to 60.5% through the acquisition of existing stakes held by asset management firms Castlelake and Lind Invest. In a statement, AF-KLM said the development 'reflects the successful turnaround of SAS and the positive results generated by the commercial cooperation initiated in 2024.' It added that the deal will allow both parties to 'fully unlock their synergy potential, confirm the Group's expansion in the Scandinavian market, and create additional potential for value delivery to shareholders.' AF-KLM said these synergies would be the result of a 'comprehensive integration in all areas of business,' and would 'extend beyond commercial activities.' SAS would ultimately become a subsidiary of the Air France-KLM Group, which also includes low-cost carrier Transavia. What are the CEOs Saying? Speaking on Friday morning, Ben Smith, CEO of Air France-KLM said: 'Following their successful restructuring, SAS has delivered impressive performance, and we are confident that the airline's potential will continue to grow through deeper integration within the Air France-KLM Group.' Anko van der Werff, president & CEO of SAS added: 'Air France–KLM becoming the majority owner would mark a defining moment for SAS and a strong signal of confidence in the direction we're heading. It brings not just stability but will also allow for deeper industrial integration and the full backing of one of the world's leading airline groups.' Under the deal, the Danish State will retain its 26.4% stake in SAS and its board seats. The transaction remains subject to regulatory approval. AF-KLM is aiming to complete the transaction in the second half of 2026. How Did We Get Here? Despite holding less than a fifth of SAS shares for just a year, AF-KLM has already made its mark. The airlines have ramped up cooperation in the form of extended codeshare and interline agreements. The Scandinavian carrier also defected from Star Alliance – where it was a founding member – to rival SkyTeam, home to Air France and KLM. The August 2024 deal saw Air France-KLM join the consortium in a nearly $1.2 billion deal. The purchase formed a key part of SAS's financial restructuring which helped salvage the Scandinavian carrier from extreme financial distress. SAS filed for Chapter 11 bankruptcy protection in July 2022, making good on earlier threats from airline management that it would do so if it was unable to secure concessions from key stakeholders. The Scandinavian company completed this process last year. The terms of the consortium deal allowed the company to increase its shareholding to a controlling position after at least two years. Smith previously told Skift that the SAS deal is a 'low-risk way of participating in consolidation.' What am I looking at? The performance of airline sector stocks within the ST200. The index includes companies publicly traded across global markets including network carriers, low-cost carriers, and other related companies. The Skift Travel 200 (ST200) combines the financial performance of nearly 200 travel companies worth more than a trillion dollars into a single number. See more airlines sector financial performance. Read the full methodology behind the Skift Travel 200.
New York Times
an hour ago
- New York Times
Could the Electric Hydrofoil Ferry Change the Way We Commute?
During the golden age for ferries in the 1800s, steamboats dotted the shorelines of coastal cities to transport passengers. Then cars and trains took over. Now, driven by congestion and the revitalization of urban waterfronts, ferries are making a comeback. 'We see it as a blue superhighway that is still untapped,' said Geoff Symonds, chief operating officer of Uber Boat by Thames Clippers, a ferry network based in London. Ferry commuting scores higher on customer satisfaction surveys than other modes of public transit, offering amenities like ample seating, space for bikes and breathtaking skyline views, and it was the first to return to prepandemic ridership levels in cities like New York, San Francisco, Stockholm and Auckland, New Zealand. What operators struggle to offer, however, is a fast, sustainable mode of transit. 'Commuters want speed,' said Jakob Kuttenkeuler, a professor of naval architecture at the KTH Royal Institute of Technology in Stockholm. Over the last few months, however, Stockholm has been testing a vessel that may solve that problem: the world's first electric hydrofoil ferry. Want all of The Times? Subscribe.
Yahoo
2 hours ago
- Yahoo
Flight delays, cancellations as French air traffic controller strike continues
French air traffic controllers continued strike action for a second consecutive day, causing the cancellation of 40 percent of flights across all Paris airports on Friday and disrupting travel plans for holidaymakers at the height of Europe's travel season. A strike by French air traffic controllers entered its second day on Friday, causing further flight delays and cancellations at the start of Europe's peak travel season. Civil aviation agency DGAC told airlines to cancel 40% of flights at the three main Paris airports on Friday because of the strike, which the air traffic controllers say is over staff shortages and ageing equipment. Up to half of flights at France's other airports, mostly in the south, were also affected, DGAC added. French transport minister Philippe Tabarot called the strike unacceptable. "The idea is to disturb as many people as possible," he said in an interview with CNews. Read moreMore than 1,500 flights cancelled as French strike disrupts summer getaways Read more on FRANCE 24 EnglishRead also:More than 1,500 flights cancelled as French strike disrupts summer getawaysFrance asks airlines to reduce flights due to planned air traffic controller strike
