Budget airlines Ryanair has expressed its hopes that air passenger numbers would go back to regular ranges by next summer. CEO Michael O’Leary expressed his optimism that passenger volumes should reach 75-80 percent of pre-Covid levels in 2021. O’Leary also expressed optimism about a Covid vaccine roll-out before the peak summer season in 2021.
* Land Securities writes around £1billion off property portfolio UK’s largest commercial property developer and investment company Land Securities Group Plc has written down the value of its portfolio by almost £1billion. The company posted a loss before tax of £835 million for the first half ended 30 September but said the interest in the London office market remained strong.
* Shell to reduce crude processing capacity at Pulau Bukom refinery Royal Dutch Shell Plc as a part of its drive to reduce CO2 emission, is reportedly going to reduce crude processing capacity at its Singapore refinery, Pulau Bukom. The move would bring down the total refining capacity cuts by the company in recent months to 571,000 barrels per day and would also lead to job reduction.