Norwegian axes Irish flights, H&W’s Belfast leases, and softening house prices

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

A photograph of the launch of Norwegian Air’s transatlantic services from Shannon Airport in 2017. These are to be axed in September.

A photograph of the launch of Norwegian Air’s transatlantic services from Shannon Airport in 2017. These are to be axed in September.

 

Just two years after launching transatlantic flights from Ireland to North America, Norwegian Air plans to scrap its routes from Dublin, Cork and Shannon from next month. Peter Hamilton has the details.

Administrators in charge of Harland and Wolff cannot simply sell off the Belfast shipyard site it occupies purely for commercial or residential development because a “restrictive lease covenant” is in place, industry sources have told Francess McDonnell.

John McCartney, director of research at real estate group Savills, believes the softening in house price growth in Ireland over the past 12 months is due to an increased supply of new units rather than the Central Bank of Ireland’s mortgage rules. Eoin Burke-Kennedy reports.

In her weekly personal finance column, Fiona Reddan cuts through the budget day guff from Government about tax cuts.

In London Briefing, Fiona Walsh looks at rising rail fares in Britain, and the fact that three FTSE 350 companies still have all-male boards in place.

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