easyJet has reported a fall in revenue for the three months to June 30th, with “difficult and uncertain economic and operating environment” affecting exchange rates and hitting profitability.
Per seat revenue was down 8.3% to £54.54 per seat with total revenue dropping by 2.6% to £1,196 million for the quarter.
An Algarve MP has been asking questions about the long queues that have become the norm at Faro airport for travellers entering the country.
Teresa Caeiro, a CDS-PP member of parliament has asked the Minister of Planning and Infrastructure about recent local press reports of long delays at passport control, especially on Sundays which is the busiest day of the week.
The Portuguese government has been ordered to pay compensation of €150 million for cancelling work on the Lisbon-Madrid high speed rail link.
The Portuguese government plans to appeal to the Constitutional Court and to ask for an assessment by the Court of Auditors as it does not agree with the arbitration tribunal’s findings and compensation order payable to the Elos consortium.
Official figures have reconfirmed that that Extremadura is the poorest area of Spain, followed closely by Andalusia and the north-west tip of the country, Galicia.
The average income in Extremadura is €19,034.
Hopes are being expressed that the most spectacular stretch of coastal habitat left unspoilt along Portugal’s southernmost shore can be turned into a nature reserve rather than being blighted by two more resort urbanisations, writes Len Port.
The area lends itself perfectly to ecotourism through conservation, but local homeowners who advocate this are concerned it may be too late.
The European Commission is almost certain to delay until after the summer any decision on whether or not to suspend Spain and Portugal's access to European funds.
The two countries are in the naughty corner for failing to hit previous financial targets and for not cutting public spending with sufficient dedication and enthusiasm.
Portugal’s Prime Minster, António Costa, has hit back at criticism from the Social Democrats, saying that the former coalition government leaders have absolutely no credibility when referring to the current instability in the banking system as it was on their watch that problems at BES and Banif were hidden away until it was too late.
The president of the PSD, Pedro Passos Coelho, and the Social Democrat parliamentary leader, Luis Montenegro, both have thought it sensible to accuse the government of making statements that have contributed to the instability of the banking sector.
Three executives of the bust Banco Espírito Santo - António Leandro Soares, Pedro Cohen Serra and Nuno Morgado Escudeiro - have been found guilty of buying and selling EDP stock in January 2008 just before the company announced it was hiving off EDP Renewables which causes a sharp rise in the EDP share price.
The Portuguese Securities Market Commission (CMVM) was alerted as the shares traded by the trio represented more than 0.5% of EDP’s share capital.
