British Airways CEO Reflects on the Power Outage at Heathrow in March
British Airways CEO Sean Doyle reflects on the power outage at Heathrow in March.
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Yahoo
an hour ago
- Yahoo
How BYD became the new Tesla
Are we presently living in one of those interim periods whereby the UK's best selling passenger vehicle isn't a 4.4-4.8 m long car? Think about it: the Cortina, Sierra, Cavalier and Mondeo were long, long ago yet a new generation of Brits has been mad for the Qashqai, HS, Sportage, Model 3, and Model Y. Switch Auto Insurance and Save Today! Great Rates and Award-Winning Service The Insurance Savings You Expect Affordable Auto Insurance, Customized for You Earlier this year private buyers and and fleet managers pulled back from what had been EV near-mania. Now that looks set to start all over again once the government's latest scheme to hand out tax-payers' money in subsidies kicks in. BYD could well be sitting pretty, with this company already the UK's fastest expanding brand of 2025. One of the biggest advantages that Build Your Dreams has is the sheer size of its vehicle portfolio. And it's not as if the name is unknown, Londoners having been travelling in the company electric buses for many years. As big as today's Toyota Motor Corporation one day? I briefly tried a Seal, as in the electric saloon, a few months back and came away impressed. Other OEMs should be scared of this company. I will admit that some years ago, it seemed that this might be the next Daewoo Motor but now my own thinking is that a future rival for the mighty TMC is in the making. Laugh at the model names? Well yes. Seal, Seal U, Dolphin Surf are what we have now in the UK but easily the best selling Kia is called Sportage. And that was a name which people once either thought silly or had never heard of. BYD isn't just on the rise rapidly here in Britain. It's becoming ever bigger all over Europe and in fact, with the exception of the USA, India and Japan, worldwide. Mexico is the first market in North America with 13 models offered there. Doubling sales from last year's 40,000 is the target for 2025. And in Australia, surely the most saturated market in the world aside from China, BYD rose to fifth position in June. Even the Japanese like Chinese cars Even the Japanese are keen on the cars, registrations rising by 58 per cent in H1 (albeit to just 1,709 units and a mere point one of a per cent market share). It will be fascinating to see how buyers - not to mention Daihatsu's parent TMC as well as Honda and Suzuki - react when an electric keijidōsha model being developed specifically for Japan launches there. Images of disguised prototypes hit the web two months ago. Exports of this micro-vehicle are due to commence in the fourth quarter of 2026 though which of BYD's Chinese factories will manufacture it is yet to be stated. Uzbekistan, Thailand, Hungary, Turkey and now Brazil too, where build of the Dolphin production started on 1 July at what was previously Ford's plant in Camaçari - the list of locations for new factories is growing almost as rapidly as BYD sales the world over. Production of EVs at a soon to open site in the EU (Szeged) will be dialled back to modest levels it now transpires, the Chinese OEM instead fast-tracking build at the new site in Turkey. Why? Lower costs with the same tariff-free access as for the Hungarian plant. Expansion might be rapid - new factories are springing up in multiple other countries - but BYD seems not to be letting costs get out of control in the quest for growth. An almost 600% sales rise in the UK Back to the UK, and the brand seems to have a strong understanding of how to get EV doubters into its cars: a new deal with Octopus Energy bundling a leased car, a V2G charger and smart EV tariff is just one example of what the brand is offering. Aside from tempting incentives, what else explains how any car company can see its sales rocket by 567 per cent (YoY) in the first half of a calendar year? The vehicles themselves of course. The best selling model is the Seal U DM-i. Unlike the Seal, this is an SUV and it's also a plug-in hybrid (DM means Dual Mode) rather than an EV, something which every other BYD model imported to the UK is. Some 8,700 examples of this 4,775 mm long 4x2/4x4 were delivered in the most recent quarter alone and when you realise what's on offer for the money, all this recent success becomes understandable. Overall excellence with some minor faults First impressions being oh so important, the Seal U looks immediately fresh (despite having debuted in China two years ago this month). It may have some quirks, but these did in fact endear me to the car and anyway, they're only minor things. Such as a typo on the infotainment screen (which nagged me all week for a software-updating reboot - not risking it thanks, as at the car would be rendered static for as long as that would take). Among the many language options there isn't one for British English, US spellings being the default. Still, my Aussie accent was understood and that's not always the case with some Navi systems, even in 2025. Also, and I am not mocking, just observing: among the 4WD settings the display lists 'Sandy Land' as well as 'Muddy Land' and 'Snowfield'. You may also choose from either Eco, Normal or Sport. BYD will get the small stuff nailed; of that I have no doubt. And the quirkiness is endearing anyway, just like, say, the digital gauges immediately ahead of the driver in every Lexus and Toyota being called (a) 'Meter' [sic]. Two battery sizes, two engines, one or two motors Not all variants have four-wheel drive, the least expensive ones being equipped with just the one motor, its torque delivered solely to the front axle. Whichever specification the buyer chooses, the transmission has a single speed. Power is either 160 kW (218 PS) or a combined 238 kW (324 PS) from 150 kW front and 120 kW rear motors. BYD specifies two versions of a 1.5 engine for the Seal U, depending on how many motors feature. For FWD 'Boost' and 'Comfort' trims, it's a non-turbo while forced induction is reserved for the two-motor and AWD 'Design'. There are two battery specifications, these being 18.3 or 26.6 kWh with the second one only available in the FWD comfort specification. The powerful all-wheel drive model lent to me was softly sprung and particularly quiet, the engine kicking in seemingly rarely. Which explains why the range of the base Boost can be as many as 700 miles. Low-drag shape a bit generic? To look at I have to say the Seal U isn't anything special but since when did that stop vast numbers of people buying a rival SUV from, say MG? Others, such as the Hyundai Santa Fe and Skoda Kodiaq offer a more distinct appearance though the BYD is far from offensive. The strong waist line is fairly high and contributes to what is a small glasshouse, the back window especially being quite shallow. On the inside, the impression of high quality which tends to mark out many Chinese brand models (but not always made-in-China one from American or European OEMs) is present here. Double stitching on the seats is mirrored by the same thing on the dashboard and in the test car it was millimetre-perfect in alignment with the glovebox opening. Impressive. A (big) screen that swivels The screen can be switched from landscape to portrait via a press on one corner of it but if you are using CarPlay it automatically revolves back to landscape-only. Most functions are easily located and there are lots of real buttons on the steering wheel. Also, the A/C worked beautifully during warm and humid weather, even if leather-look upholstery is obviously not ideal. And BYD needs to specify a proper blind for the glass roof: what it gives you is too thin. Aside from the Seal U DM-i, every BYD model for the UK market is electric and there is a lot of choice. The line-up starts with the Dolphin Surf, which may not have the looks of the Renault 5 but it is significantly cheaper. Above this sits the Dolphin, another five-door hatchback. Then come the Atto 2 and Atto 3, with the Seal, a svelte D segment car (think Model 3) positioned just below the Sealion 7 (Model Y). Britain the number one market in Europe Just from seeing how many models are already available in the UK, a major EV market, even though our overall volume isn't that big in world terms, demonstrates how serious BYD is about Europe. And while today Germany is a minor market (only 6,323 cars sold in H1), registrations there were up by 426 per cent in the half year to 30 June. As we know, Ford of Britain lost its long-time leadership in passenger vehicles to VW. Kia and BMW remain major challengers, as are Toyota, Nissan, Skoda, Peugeot, Mercedes, Vauxhall and MG, with China's now number one brand rising rapidly. Six-figure sales in the UK by decade-end? Nobody should underestimate how determined BYD is about the European region and Britain specifically. Pricing here for cars has always been high in world terms and that makes us a major target for profit-hungry OEMs. I would expect BYD to be selling far in excess of the 19,390 vehicles it retailed in H1 in subsequent half years."How BYD became the new Tesla" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
an hour ago
- Yahoo
Hilton CEO: Flat Quarter, ‘Green Shoots,' More Brands to Come
Hilton delivered mixed signals on Wednesday about the health of U.S. hotel demand, with executives noting that the second quarter was soft. But the hotel giant maintained confidence in its expansion plans. During the quarter, Hilton's revenue per available room (RevPAR) decreased by 0.5%, primarily due to declines in occupancy. Yet for the full year, Hilton maintained its RevPAR growth forecast of between 0% and 2%. Hilton president and CEO Chris Nassetta painted a picture of a sluggish period, but quickly pivoted to discussing encouraging signs for the near future. 'We said relatively flat, which means it could be a little up, a little down. It was a little down,' he said. But he also said he saw several 'green shoots' that he believed would drive stronger demand over the 'next 2 or 3 years.' Policy uncertainty in Washington this spring, related to trade deals, taxes, and regulations, led to lower-than-expected hotel bookings in the quarter, especially by leisure travelers and large corporations. 'We believe the economy in our largest market [the U.S.] is set up for better growth over the intermediate term, which should accelerate travel demand and, when paired with low industry supply growth, unlock stronger revenue per available room growth,' Nassetta said. 'Supply growth in the industry is at the lowest levels that we've really ever seen.' 'A more favorable regulatory environment, certainty in tax reform, expected settling down on global trade policy, continuation of very healthy corporate profits, and significant investments across a multitude of industries, including AI and AI-related core infrastructure investment, should accelerate economic growth and unlock meaningful increases in travel demand,' he said.' Mixed Demand in 2Q The quarter revealed uneven travel patterns across customer segments. Leisure travel grew 1% as an extended spring break period and favorable year-over-year comparisons supported demand. However, business travel declined by 2%, pressured by reduced government spending, weaker international visitor numbers, and what Nassetta described as 'broader economic uncertainty.' Group bookings remained roughly flat, with corporate meetings offsetting weakness in convention business and social events. Visits to the U.S. from Canada and Mexico were down. However, the countries combined drive only about 1.5% of Hilton's total revenue. The company benefited from increased visitation from abroad as the U.S. dollar weakened. Optimism Longer Term Looking ahead, the hotel operator forecasted that its RevPAR would remain flat to slightly negative in the third quarter, partly due to holiday calendar shifts. That range is below the analyst consensus that Hilton's RevPAR would rise 1.2% year-over-year. Hilton anticipates improvement in the fourth quarter, partly driven by easier year-over-year comparisons with last year's dampened demand from the U.S. presidential election. Hilton reported 'positive momentum' in corporate lead volumes and said group bookings for 2026 and 2027 were up in the high single digits. A Softening in Hotel Openings? While Hilton's hotel development pipeline hit a record high (510,000 rooms), the pace of openings has slackened. Excluding hotels acquired through recent deals, Hilton's net room growth was up only 5.4% year-over-year. '[Hilton] will need a record second half to even hit the bottom end of the 6% to 7% guidance for the year,' noted Richard Clarke in a flash report for Bernstein Research. Executives said Monday they 'remain confident' in the company's 'ability to deliver net unit growth between 6-7% for the next several years.' 'However, we expect questions on how this organic growth rate can be achieved in 2026,' wrote Truist Securities analyst C. Patrick Scholes in a flash report. 'The pipeline only grew 4% year-over-year, versus the 7.2% growth rate in the first quarter, fourth quarter 2024's +8%, and the +15% in the same quarter a year ago. Nassetta insisted the company will hit its target range for hotel development. 'I've been saying we will be in the 6% to 7% range, and I'm a little bit more emphatic,' Nassetta CEO noted that the company's starts on hotel projects 'are going to be up 16% to 17% this year, and once they start, almost 100% of the time, they finish.' More Brands to Come The CEO teased that the group would add more brands to its current 24. 'We're going to have 2 or 3 more brands,' Nassetta said, noting they'll likely be in the 'upscale or upscale plus areas of lifestyle.' One of these may be a soft brand. 'We're putting the finishing touches on another collection brand in lifestyle that is sort of in the Tapestry zone, but just for more unique assets.' Strong Second Quarter Despite the weakness in RevPAR, Hilton generated a net income of $442 million on $1.3 billion in revenue (after reimbursing money to hotel owners) in the quarter. Adjusted EBITDA grew 10% to $1 billion. 'Hilton Honors continues to perform extraordinarily well with more than 226 million members, up 16% year-over-year, with membership now evenly split between the U.S. and international travelers,' Nassetta said. Accommodations Sector Stock Index Performance Year-to-Date What am I looking at? The performance of hotels and short-term rental sector stocks within the ST200. The index includes companies publicly traded across global markets, including international and regional hotel brands, hotel REITs, hotel management companies, alternative accommodations, and timeshares. 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 hotels and short-term rental financial sector performance. Read the full methodology behind the Skift Travel 200. Get breaking travel news and exclusive hotel, airline, and tourism research and insights at Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Skift
an hour ago
- Skift
Alaska Airlines Gets Boost From Premium, Expects Hit From IT Outage
Alaska's second quarter turned out better than previously expected as revenue from premium seats and loyalty continued to grow. Alaska Airlines reported record revenue for the second quarter, getting a boost from premium seating and its loyalty program. Previously, Alaska pulled its 2025 guidance and forecasted as much as a six-point hit to revenues due to softening domes
