Category: 3. Business

UK regional airline Eastern Airways has entered administration after the majority of its 330 staff were made redundant last week.

The airline had operated across the UK, Ireland and Europe, and ran services supported by the Scottish government for people in the northernmost point of mainland UK.

However, after a contract to operate services for Dutch airline KLM was ended, the carrier had been left with a cost base that was “too high to be sustainable”, the administrators said.

Jamie Miller from RSM UK Restructuring Advisory, who has been appointed joint administrator, said sufficient staff had been retained to maintain the fleet while they sought to rescue some or all of Eastern’s operations.

He added: “We would welcome any interest from potential alternative operators, or those who may have an interest in the underlying assets.”

RSM said Eastern Airways had been operating four aircraft for KLM Cityhopper in Europe, but, when this contract was terminated, it had left Eastern with “high fixed overheads and a staff base that has ultimately proved too high to be sustainable”.

The company had filed a notice of intention to appoint an administrator on 27 October after the Civil Aviation Authority announced all of its flights had been cancelled.

Launched in 1997, Eastern is one of the UK’s last remaining regional airlines and is based at Humberside Airport in North Lincolnshire.

But the airline has faced financial challenges since the Covid pandemic, in part due to falling passenger numbers.

It also operates out of East Midlands, Jersey, Manchester, Newcastle, Newquay and Southampton, as well as Esbjerg in Denmark.

It has been an operator in the North Sea offshore oil and gas industry, flying between UK cities with a significant presence in the sector such as Aberdeen, Humberside, Teesside and Wick.

It has run a weekday service between Wick John O’Groats Airport and Aberdeen, which is seen as vital for people living in the most northerly point on mainland UK.

• Airline’s largest-ever order commitment highlights Central Asia’s rising role in global aviation
• Kazakhstan’s flag carrier will grow and modernize its exclusive Boeing widebody fleet

WASHINGTON, Nov. 6, 2025 /PRNewswire/ — Boeing [NYSE: BA] and Air Astana JSC announced today the Kazakhstan flag carrier will purchase up to 15 787 Dreamliners to grow and modernize its fleet. The agreement for additional 787-9 airplanes will enable Air Astana to expand its operations and enhance its passengers’ experience.

When the order is finalized and posted to Boeing’s Orders & Deliveries website, it will be Air Astana’s largest single airplane purchase and will support more than 20,000 jobs across the U.S. With three more 787-9 airplanes to be delivered via lessors, Air Astana’s 787 fleet will grow up to 18 787-9 airplanes to fuel its long-haul capabilities.

“Air Astana is strategically committed to boosting its service capabilities from Central Asia / Caucasus to Asia, Europe and the rest of the world over the next decade, with the arrival of the first Boeing 787-9 Dreamliner next year marking the start of this exciting phase of development,” said Peter Foster, CEO of Air Astana. “With its customer friendly cabin, fuel efficiency and range flexibility, the fleet of up to 18 Boeing 787-9 aircraft is destined to become an outstanding success with the airline and its discerning passengers.”

Air Astana currently operates three Boeing 767 widebody jets across a network that connects Kazakhstan with destinations in Europe, Asia and the Middle East. The airline will leverage the ultra-efficient 787-9, which will seat 303 passengers, to grow capacity across its existing routes and enable expansion into North America.

The agreement was signed at the C5+1 Summit as the U.S. marks the 10^th anniversary of the diplomatic platform.

“Boeing airplanes have been integral to Air Astana’s operations from the beginning and we’re proud the 787 Dreamliner will support Central Asia’s growing importance in aviation,” said Paul Righi, vice president of Boeing Commercial Sales for Eurasia and India. “Air Astana’s decision to expand its fleet with the 787-9 aligns with its vision to boost operational capabilities and efficiency while elevating its service offerings.”

The 787 Dreamliner is renowned for its fuel efficiency, advanced technology and superior passenger comfort, making it an ideal choice for long-haul operations. Air Astana will join the global operators that leverage the 787 Dreamliner family to fly about 500,000 passengers daily and connect the most countries of any widebody fleet.

A leading global aerospace company and top U.S. exporter, Boeing develops, manufactures and services commercial airplanes, defense products and space systems for customers in more than 150 countries. Our U.S. and global workforce and supplier base drive innovation, economic opportunity, sustainability and community impact. Boeing is committed to fostering a culture based on our core values of safety, quality and integrity.

Contact
Boeing Media Relations
[email protected]

View original content to download multimedia:https://www.prnewswire.com/news-releases/air-astana-selects-up-to-15-boeing-787-dreamliners-to-expand-global-network-302607807.html

SOURCE Boeing

The US Consumer Product Safety Commission said on Thursday that Peloton Interactive is recalling about 833,000 units of its Original Bike+ Model PL02 after reports that the seat post assembly could break during use, posing a risk of falls and injuries.

The consumer safety regulator said the fitness products maker has received three reports of the seat post breaking and detaching during use, including two incidents that resulted in injuries from falls.

Consumers have been urged to stop using the recalled bikes immediately and contact Peloton for a free repair. The company is offering customers a replacement seat post that can be self-installed.

The recall follows a 2023 voluntary pullback of more than 2 million of Peloton’s original model bikes, which were recalled over a similar seat post issue.

The company’s shares, down 18.1% so far this year, dropped 6.5% in New York on Thursday.

Peloton has been cutting costs and reducing headcount under a turnaround effort, while raising prices for its products to help offset higher expenses tied to Donald Trump’s tariffs.

In August, the company said it would reduce its global workforce by 6% and warned that the latest tariffs were expected to dent its 2026 free cash flow by about $65m.

More than 250 British company bosses have urged Rachel Reeves to use her budget to make UK pension schemes channel extra funds into domestic businesses, increasing private investment by as much as £95bn.

In a letter to the chancellor, business leaders said the government must address a crisis in which pension investment in UK-listed companies has fallen from 53% of total equity holdings in 1997 to 4% this year.

The signatories, including major pharmaceutical, financial services and health firms, said that to reverse decades of investment overseas, Labour should tell pension fund managers they must invest at least 25% of their equity holdings in UK shares.

Reeves is expected to announce a string of initiatives to boost investment in her 26 November budget.

The chancellor has already championed the Sterling 20 initiative and Mansion House accord to coordinate backing for local and national infrastructure projects.

Under the Mansion House accord, fund managers including Aviva, Legal & General, and M&G agreed to invest at least 10% of their workplace pension assets in private markets by 2030.

However, the letter, coordinated by the London Stock Exchange Group and signed by the bosses of Revolut, JD Sports and Barclays, calls on Reeves to go further.

It said all defined contribution (DC) pension schemes, used by most employers and holding about £200bn in assets, should be required to change their rules.

“We urge you to be bold,” the authors wrote, adding that the chancellor could make pension fund managers include a minimum 25% allocation to UK assets part of every default fund, forcing savers to opt out if they rejected the plan.

“This policy would set the default level of UK domestic pension investment closer to that of international competitors,” the letter said. “Doing so would provide businesses with access to deeper and more reliable sources of capital in the UK.

“By 2030 overall investment in UK equities by DC pensions would increase by around £76bn from current levels in today’s money (or +230%) and potentially as much as £95bn,” the letter added.

Reeves would easily secure support for the rule change from the public, they said.

“Taking action would be in line with the perceptions of the British public. A recent poll commissioned by New Financial found that the public believes 41% of their pension is invested in UK companies or the UK stock market – 10 times the current level of investment.

“Moreover, 72% support government action to encourage more domestic investment through their pension schemes.”

Individuals could opt out of the plan by requesting their pension savings be diverted from the default fund, the letter said.

The latest investment figures show it may prove a popular option as individual investors seek high returns on their assets.

Investors spent £10.5bn on offshore bonds in the 12 months to the end of June, up from £5.1bn the previous year, according to data reviewed by the Financial Times.

Financial advisers blamed fears of higher capital gains tax for wealthier individuals channelling funds via Ireland, Luxembourg and the Isle of Man into tax-efficient bonds.