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UK regulator rejects Heathrow request for pandemic cushion

FinanceUK regulator rejects Heathrow request for pandemic cushion Reuters 2 minutes read An aircraft takes off at Heathrow Airport amid the spread of the coronavirus disease (COVID-19) pandemic in London, Britain, February 4, 2021. REUTERS/Toby Melville Britain s aviation regulator rejected Heathrow s request for an increase to its regulatory asset base of 2.6 billion pounds ($3.6 billion), instead offering the country s biggest airport a 300 million pound adjustment to cover pandemic losses. Heathrow s passenger numbers have plunged over the last year and remained more than 80% lower in recent months at levels last seen in the 1970s, pushing its losses to around 3 billion pounds. The airport therefore asked Britain s Civil Aviation Authority, the CAA, for an increase in its regulatory asset base (RAB), part of a funding model set by the regulator that maintains an appropriate level of risk and reward for investors while setting the charges paid by passengers.

Boeing grounds 777s after engine fire

Boeing grounds 777s after engine fire Issued on: 3 min Washington (AFP) Boeing confirmed Monday that dozens of its 777 aircraft were grounded globally after the engine of a United Airlines plane caught fire and scattered debris over a suburb of Denver, Colorado. It is a fresh blow for the beleaguered US aviation giant that was forced to ground another fleet of planes after a series of deadly crashes. Boeing said Monday that 128 of it 777 planes with Pratt & Whitney engines will stop flying after the fire Saturday that forced the United Airlines plane to make an emergency landing. I have just had confirmation that all the 777s equipped with this engine have been grounded, a spokeswoman for the planemaker told AFP in a text message.

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