Stobart Air to seek protection, the Great Lockdown and Brexit’s back

Business Today: the best news, analysis and comment from The Irish Times business desk

Naomi O’Leary reports that British and EU negotiators are to reconvene today to try to salvage talks

Naomi O’Leary reports that British and EU negotiators are to reconvene today to try to salvage talks

 

Aer Lingus Regional operator Stobart Air is poised to seek court protection from creditors in coming days as Covid-19 travel bans continue to bite. Barry O’Halloran reports that the Dublin-based carrier is likely to ask the High Court to appoint an examiner in a bid to extricate the business from difficulties it faces as a result of the travel bans that have grounded passenger flights.

Barry also reports on how the Government will pay builders working on State projects cash to cover the cost of maintaining sites closed as a result of the Covid-19 lock down.

The coronavirus pandemic has brought the global economy to its knees and is likely to result in the worst economic downturn since the Great Depression, the International Monetary Fund has said. Eoin Burke-Kennedy and Joe Brennan outline the latest IMF predictions.

In his column, Eoin also warns that we can forget concerts and major sporting events in the coming months. Coronavirus restrictions are going to be with us for months and that has major implications for the economy.

One of the best-known conservative think-tanks globally has warned the State not to intervene too much when warding off the economic effects of Covid-19.

Colin Gleeson reports on what the latest consumer spending trends say about Ireland’s new lockdown retail ’norm’. Apparently we have been spending more on home fitness products, gaming and streaming services.

Away from the virus, Brexit hasn’t gone away, and Naomi O’Leary reports that British and EU negotiators are to reconvene today to try to salvage talks.

Property group Hines has lodged a €135 million plan for a major extension to the Liffey Valley Centre in Dublin.

The developers of the Frascati Centre in Blackrock, Co Dublin, are looking to more than double the number of apartments planned for the site.

Finally, in commercial property, Ronald Quinlan reports on a French investment group which has bought the Aldi supermarket in Carrigtwohill, Co Cork, for about €5.6 million.