Renewed Covid-19 turbulence dampens summer demand recovery for airline sector

Posted On: 15th June 2021
Renewed Covid-19 turbulence dampens summer demand recovery for airline sector

Government restrictions on international travel have tightened again in the UK as a surge in new infections linked to the emergence of virus variants threatens the airline industry’s summer recovery. The UK recently removed Portugal from the ‘green’ list of the government’s traffic light system for quarantine-free travel. The decision follows a spike in Portugal’s infection rate, which currently exceeds the rate in the UK according to the Office for National Statistics (ONS). More significantly, 77 cases of the ‘Delta’ variant of Covid-19 were reported according to data published on GISAID. The Delta variant, first identified in India, carries the risk of a potentially detrimental mutation, while the efficiency of existing vaccines against this variant is not yet determined. Public Health England (PHE) has begun an investigation.

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Posted By: Mark Fry

Posted On: 15th June 2021

Mark is the National Head of Advisory and Restructuring, based in our London office, and has specialised in business rescue and restructuring for over 25 years. Mark has played a key role in developing the firm’s domestic and international advisory offering which is now a key part of the business. Advisory services include business reviews, debt advisory, financial and commercial due diligence (including acquisition, vendor, pre deal review and completion assistance), business valuation, Mergers and Acquisition advice, litigation support, solvent reconstructions, optimised exit planning, financial restructuring, performance improvement advice, strategic planning and implementation support.

Mark has been involved in a number of high profile cases including the successful restructure and sale of a Championship football club, appointed to the Landlord Restructuring Committee of the UK’s largest care home provider, as well as working with private equity houses on reorganisations, operational and financial restructuring, valuation and optimised exit of portfolio investments.

He has also been actively involved in property for many years, dealing with both commercial and residential developments, in the UK and abroad. He currently holds directorship’s of domestic and foreign property companies.