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The race to succeed Liz Truss is expected to be completed within a week, with Rishi Sunak seen as the favourite and plenty of speculation about former PM Boris Johnson potentially bidding for a quick return to Downing Street.
The value of the pound rose in the immediate aftermath of Truss’ resignation, but the UK economy still looks fragile with retail sales falling by more than expected in September.
In travel, Wizz Air is looking to launch long-haul flights from the UK and Spain’s decision to drop its Covid entry rules is a welcome boost ahead of the half-term holidays.
Here are the headlines that the travel industry woke up to on Friday (21 October).
Truss quits after only 44 days as PM
Prime minister Liz Truss resigned after just 44 days in the job following a disastrous spell in charge. Rishi Sunak and former PM Boris Johnson, who only left office in early September, are seen as the frontrunners to take over in a contest that will be completed by the end of next week. (Various)
Pound rises after Truss announces departure
The pound rose against the dollar and UK government borrowing costs fell slightly as the markets reacted to Truss’ resignation on Thursday (20 October). Investors were said to be “relieved” at the PM’s departure from Downing Street after weeks of turbulence and uncertainty. (BBC News)
Wizz Air draws up plans for flights from UK to Middle East and Asia
Hungary-based Wizz Air is looking at launching long-haul flights from the UK to the Middle East and Asia as part of a major expansion. The airline would use new single-aisle Airbus A321XLR aircraft, which are due to start flying in 2024, on these routes. (Financial Times)
Spain drops demand for Covid test or jabs
The UK’s favourite destination Spain has suddenly announced the ending of Covid-19 restrictions from Friday (21 October), including the requirement to provide proof of vaccination, recovery or a negative test result. The move comes just ahead of the October half-term school holidays. (The Independent)
Failing retail sales fuel concerns of looming recession
UK retail sales fell by more than expected in September due to a combination of high inflation, low consumer confidence and the impact of the Queen’s funeral. The 1.4% fall compared with August has increased fears of a recession. (Sky News)
Manston airport could reopen to flights from 2025
Manston airport in Kent could reopen for flights by 2025 under plans by the current owners. Manston, which has been closed since 2014, has been used as a lorry park and film location in recent years. (The Sun)
