Businesses offered free trading guidance
COMING at a time when financial outgoings are at a premium and businesses find themselves struggling to meet with payments and financial commitments, ACCA has made available online guidance for firms that are experiencing trading difficulties.
The 30 minute online presentation deals with how directors can protect themselves during periods of difficult trading, the options for saving or resurrecting a business facing difficulty, and options for terminating a business in decline if that is necessary. The presentation is available at www.accaglobal.com/tradingdifficulties
Aer Lingus reduces fleet to cut costs
IN an agreement that comes at no extra cost, AER Lingus has postponed the delivery of three long haul Airbus airliners in its latest move to save money.
It is also terminating leases early on two other long haul Airbus planes. A statement released this week has shown a complex reshuffling of arrangements for purchase, leasing and sale but ultimately the airline has reduced the amount of long haul planes from nine to eight.
Seven planes will be used on existing routes with the eight plane being operated in a joint venture with United Airlines.
Ryanair defies financing climate
In a move that has defied the current economic climate, Ryanair has secured over 1.5 billion US dollars in finance for 55 aircraft that it will accept delivery of between November 2009 and October 2010.
“It is testimony to the financial strength of Ryanair and the standing of our partners that we have been able to complete a facility of this size in the current challenging financial markets,” according to CFO Howard Millar as he spoke of the syndicate of lending banks that comprises BNP Paribas, Calyon, and Sumitomo Mitsui Banking Corporation.
BCI awards three more radio licences
AS A remaining fourth application from West Limerick Community Radio Limited awaits consideration, the Broadcasting Commission of Ireland has awarded a 10 year community sound broadcasting contract to Dundalk FM, RosFM and West Dublin Access Radio.
Each of these groups currently operates a community radio service and they were the only applicants for new contracts in their respective areas. According to BCI chiefs, “This will ensure that community broadcasting continues to be a feature of the radio landscape in these areas.”
70% of firms targeted in scams
Over 70 per cent of Irish businesses have been the target of a scam in the last twelve months – a 33 per cent increase on 2007 figures, according to the ISME 2009 Crime Survey. Overseas offers, business directories and Lotto winnings are the three most common scams.
Companies are being inundated with pseudo-requests, spurious invoices, sham deliveries, unsolicited correspondence for non-existent business guides and Internet directories in the mail or over the internet, which are the actions of fraudsters.
