Uncertain outlook as Jet2 reports hefty losses

Holiday company Jet2 said it continues to have limited visibility on the current summer travel season, after it sank to a £374 million loss in the year to the end of March due to the pandemic.

Jet2, which sells package holidays and flights to European leisure destinations, said its liquidity remained strong at £1.46 billion, despite losses arising from the crisis and the refunds it had to make when its aircraft were grounded.

For the current financial year, the company said its performance will depend on the level of flying permitted over the rest of summer and in its winter period, over which it currently has limited visibility.

Looking to next summer, Jet2 said it was optimistic that 2022 would be a “considerable improvement” on the previous two years, with bookings already showing a higher proportion of higher margin package holidays in the mix.

Deliveroo hikes forecast as demand for food delivery remains strong

HeraldScotland:

Deliveroo has raised it annual order value forecast after reporting an 88 per cent jump in quarterly food orders as people remained hooked on having meals and groceries delivered to their home.

The food-delivery firm, which connects customers with more than 115,000 restaurants and grocers in the UK and 11 other countries, predicted gross transaction value (GTV) would grow by 50% to 60% in 2021, compared with an earlier forecast of 30% to 40%.

Just over half of Deliveroo’s GTV – the monetary value of all orders minus any tips – came from the United Kingdom and Ireland in the quarter ended June, the company said.

Danish engineer wins planning approval for pioneering ‘low-carbon’ facility in Scotland

HeraldScotland:

Danish engineering group Danfoss has secured planning permission from Midlothian Council for a £25 million “Low-Carbon Innovation Center” at Shawfair Business Park, near Edinburgh.

Danfoss said the new, 75,000 sq ft facility would provide a home for teams working on next-generation, climate-friendly technologies in hydraulics, digitalisation and electrification, and would include new manufacturing facilities.

READ MORE: Danfoss wins planning approval for pioneering ‘low-carbon’ facility

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HeraldScotland:

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The Herald Scotland

The Herald is a Scottish broadsheet newspaper founded in 1783. The Herald is the longest running national newspaper in the world and is the eighth oldest daily paper in the world. The title was simplified from The Glasgow Herald in 1992