Turkish Airlines successfully ended the fiscal year 2020 with 6.7 billion USD revenue, which accounts for 50% of the preceding year’s level, with a net loss of only 836 million USD. During these uncertain times, the airline was also able to maintain its robust route network. According to Eurocontrol, in April 2021 Turkish Airlines operated an average of 685 flights per day – almost double the number of the closest competitor in Europe, Lufthansa. In 2020, Turkish Airlines flew 28 million passengers, with an impressive load factor of 71%. Currently, the airline serves 179 international destinations with 16 intercountry and 58 intercontinental flights. The new Istanbul Airport also stayed on top: even with a 68% loss of traffic, it was still Europe’s most successful airport as of March 2021, with 616 departing and arriving flights.
The European Commission has unveiled plans to launch pan-European Digital ID wallets. Marius Galdikas, CEO at ConnectPay, outlined key challenges that need to be addressed before the launch, as well as why its success largely depends on value perceived by EU citizens.
A recent report from Mintos, Europe’s leading marketplace for investing in loans observes a noticeable growth of young investors. In the first half of 2021, the investment platform saw a 9% growth among its young users–from 377,982 the number of young investors increased to over 417,345 individuals.
Freedom of movement may have ended now that Brexit has been officially implemented, but many Britons are still yearning to move abroad and experience life outside the UK. If you’re still working from home and wondering if you can relocate far beyond UK shores without too many restrictions, Huriya Private’s list of alternative destinations are a starting point to begin looking further afield from the typical choices like Spain, France, Australia and New Zealand.
Beleaguered British retailers are braced for yet more changes to how they sell goods to the EU. From 1 July, a new EU Import One-Stop Shop (IOSS) scheme means British-based e-commerce companies only need to register and pay VAT in one EU country to sell goods not exceeding £135/€150 across the entire EU. The new IOSS regulations certainly make retailers’ lives easier, but they aren’t entirely good news, says the international delivery expert ParcelHero.
Small but Perfectly Formed is a cross Europe collaborative project that will accelerate fashion SME’s to transition to work within circular and sustainable business models. The project aims to select 28 SME led projects from around Europe working within circular and sustainable fashion, to support an 18 month project. The project will include a business development programme which will host an 8-month business accelerator and a 5-month R&D phase, culminating in a showcasing phase that will take place between July 2022 – April 2023. There is a funding allocation of €10,275 per partnership.
The third national UK lockdown produced a wave of start-ups, with arts and crafts the most common type of venture, according to Direct Line business insurance new policy data.
Mintos, Europe’s leading alternative investment platform for investing in loans, released its consolidated audited financial report for the year 2020 – along with a number of insights about lessons learned and what investors can expect in the near future.
A new business takes a lot of courage, and this holds even for small businesses. Entrepreneurs must exercise their proficiency on different levels - from legal to finances, from marketing to sales, there is a lot to take in before taking off.
While the UK-EU Trade and Cooperation Agreement (TCA) removed the prospect of a no-deal Brexit, it introduced a wide range of changes to the UK’s healthcare industry, ranging from border checks to additional regulations for businesses based in the UK and EU. These border restrictions may drastically and permanently reshape the way that businesses trade and operate, says GlobalData a leading data and analytics company.
Portugal isn’t outside the realm of typical expat destinations for British. With over 60,000 UK citizens in the Mediterranean nation, it is a popular place for living and retiring. Although Spain has always been the more readily chosen destination, Portugal’s Golden Visa program makes it a more straightforward option than its Spanish counterpart.
Significant changes are under way in the garment and apparel manufacturing industry. In many cases they are both driving and being driven by digitalisation in the sector. If the UK’s many smaller garment manufacturers are to treat these changes as opportunities rather than threats, they need to become part of the emerging digital ecosystem, and the entry level foundation for that is a competent ERP/MRP system.
