Heathrow Terminal 2 set to be bulldozed
When it was opened in 1955, Heathrow Terminal 2 was one of the more modern terminals in the worldwide airline industry although after 316 million check-ins over 54 years it will today close for business awaiting a £1 billion redevelopment. The terminal will be bulldozed awaiting the development of a futuristic style terminus which will need to accommodate passengers and planes using the world's busiest airport hub.
Initially the terminal was designed to accommodate 1.2 million flies a year but when you consider this figure has now reached a massive 8 million flies a year it is easy to see why a redevelopment is desperately needed. Heathrow has for some time been the busiest airport in the world bringing together a massive array of different airlines and airline passengers from around the world.
BAA, the owner of Heathrow, has itself attracted significant attention over the last two years with many believing that the company has overstretched its finances in the short to medium term. There have been many problems for the airline industry over the last couple of years during which time we have seen a massive increase in so called "green taxes" and various other levies added to the ever-growing cost of operating an airline and an airport in the UK.
Share this..
Related stories
Gordon Brown announces 100,000 new jobs in the public sector
If this headline looks familiar it is because this is a rehash of an announcement made weeks ago regarding the rescheduling of many public sector projects including the building of schools, housing and various environmental programs. Gordon Brown has finally put some meat on the bone of this idea with today's confirmation of the program which is expected to require billions of pounds of UK taxpaye...
Read MoreIs confidence leaving European markets?
Over the last couple of weeks we have seen a gradual deterioration in confidence in European and worldwide stock markets amid concerns that the Greek sovereign debt crisis could bring down the European Union. As we have mentioned on numerous occasions, confidence is a major element of any investment market and without it there are problems. So is confidence leaving European markets? There is no...
Read MoreCo-op to lay off 1,000 workers
Co-operative Financial Services (CFS) has announced that it will lay off 1,000 employees this year in order to cut costs to fund a £250 million growth programme.The programme aims to expand the company's operations in retail, corporate banking and general insurance.CFS which consists of the Co-operative Bank and internet bank Smile, hopes to reduce its operating costs by £100 million by June 200...
Read MoreThe ECB announces Eurozone rate cut
In a move which is expected to at least place a floor under the European economy the ECB today announced a further reduction in Eurozone interest rates from 1.25% to 1%. This is the seventh time that rates have been cut in Europe and is a further reflection of concerns that the Eurozone economy is still very sluggish at best.
There are a number of analysts who expect this latest int...
Financial advisers share $100 million pot
It has been revealed that the successful recommended offer by Kraft Foods for UK outfit Cadbury will bring about an estimated fee pot of $100 million which will be split among seven of the world's leading financial institutions. However, Bank of America and JP Morgan, advisers and backers for US rival Hershey, are expected to share a "paltry" $1 million retainer for work done with regards to the "...
Read More