Wednesday newspaper round-up: International air fares, executive pay, Asos
By Michele Maatouk
Date: Wednesday 07 Jun 2023
(Sharecast News) - International air fares are likely to keep climbing from their current highs over the next 10-15 years, with the cost of sustainable fuels expected to drive up ticket prices, according to the global airlines body Iata. Extraordinary demand for travel since the Covid pandemic has led to steep fare rises on many routes, and Iata said consumers could expect to pay more as airlines increase the usage of scarce "greener" jet fuels in response to government mandates to cut aviation's carbon emissions. - Guardian
Companies at the centre of the cost of living crisis have paid millions to their chief executives as households struggle with soaring bills. Sainsbury's and Marks & Spencer were joined by National Grid in handing huge pay packets to their bosses, according to annual reports released on Tuesday. - Guardian
Fears of a Labour tax raid after the next general election have prompted some business owners to accelerate plans to sell up, a new survey has found. Two thirds of UK owners of businesses with a turnover of at least £5m are preparing plans to exit their firm, according to research by wealth manager Evelyn Partners. - Telegraph
Lloyds Banking Group has threatened to put the owner of the Daily and Sunday Telegraph into administration after the breakdown of talks with the Barclay family, the owner of the newspapers. A restructuring and advisory group has been lined up as receivers. Sources indicated that insolvency practitioners from the firm could be appointed within days if talks are not resumed and an 11th-hour deal struck. - The Times
Suppliers to Asos have started to sever ties with the troubled retailer after credit insurers withdrew cover amid concerns over its falling profits. Asos - founded in 2000 under the name As Seen On Screen, selling imitations of clothes worn by television and film celebrities - was regarded as a trailblazer for fast-fashion thanks to its focus on twentysomething, smartphone-savvy shoppers and its swift service, which helped it to steam ahead of bricks-and-mortar rivals. - The Times
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