Panayiotis Kyprianou

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The world’s best performing airline is one that was about to shut down a year ago

Last December, SpiceJet, an Indian airline founded in May 2005, looked set to go into a death spiral.<p>The company had been consistently making losses for three years and its creditors were lining up to recover dues. The then promoters were busy scouting for buyers, while the airline grounded all its …

Tesco settles US lawsuit over profit overstatement

<b>Tesco will pay $12m (£8m) to settle legal action by US shareholders which claimed that accounting irregularities inflated the supermarket's share price.</b><p>The lawsuit alleged that Tesco's overstatement of its profits guidance, revealed last year, breached certain US securities laws.<p>The cash settlement …

Travel industry in 'greatest turmoil in 30 years' after Paris attacks, says Thomas Cook boss

Peter Fankhauser says bookings fell after terror attacks but expects confidence to return as he unveils firm’s first annual net profit for five years<p>The travel industry is facing the greatest turmoil in 30 years because of the recent series of incidents capped by the terrorist attacks on Paris, …