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2,700 Jobs At Risk As City Link Collapses

Written By Unknown on Sabtu, 27 Desember 2014 | 11.46

By Mark Kleinman, City Editor

More than 2,700 jobs are at risk over the festive period after one of the UK's biggest parcel delivery services companies collapsed into administration.

Sky News has learnt that City Link, which has been a perennial loss-maker, called in the professional services firm EY on Christmas Eve and immediately ceased accepting parcels from customers.

A public statement confirming the move is expected to be circulated on Friday.

City Link, which is owned by the investment firm headed by Jon Moulton, the veteran venture capitalist, is understood to count John Lewis among its largest clients.

John Lewis said it has transferred all its business with the company to alternative carriers.

"John Lewis has worked with City Link during this challenging period and provided significant support to enable them to trade," a spokesperson said.

"It is always a matter of deep regret when any of our suppliers are unable to continue with their business."

In a statement issued to Sky News, EY confirmed its appointment, saying it had put in place the ban on accepting new parcels at its Coventry head office, three other transport hubs and 53 depots across the UK.

"The company has entered administration as a result of continued substantial losses and is unable to continue accepting new parcels due to the further losses it would incur," it said.

The scale of possible job losses among City Link's 2,727 employees has not yet been identified, although EY said they were likely to be '"substantial" following an unsuccessful process to identify a new owner.

A number of staff would be retained to help return parcels to customers and assist with winding down City Link's operations, the administrator said.

Mr Moulton's firm, Better Capital, bought the courier and parcel delivery group last year, paying just £1 to its previous owner, the pest control firm Rentokil.

City Link has been loss-making for many years, suffering from poor systems and intense competition from rivals buoyed by the explosion in online shopping.

A number of competitors, such as Yodel, were the target of consumers' fury in the run-up to Christmas amid a series of delays.

Last month, Better Capital wrote down the value of its £40m investment in City Link by 50% and said that "various options to maximise the value of the (holding)".

In the wake of a £14m loss for the 2013-14 financial year, City Link's owner added that the business had "progressively deviated from its monthly profit budget during its current year to 31 December driving the conclusion that its current structure is unsustainable in the long term".

Better Capital blamed the worsening outlook on "excess (and increasing) capacity in the sector, made worse by customers developing their own delivery capabilities".

The administrators said customers who had handed over parcels to City Link on Christmas Eve should go to a depot to retrieve them on or after December 29.

The company's online parcel tracking system and helpline telephone numbers remained open to enable fulfilment of existing orders, EY added.

City Link's website said it had annual revenues of approximately £300m, a fleet of 1,700 vehicles and delivered 60m items each year.

A rival ParcelBright.com says:

"This shows the immense pressure couriers are placed under further outlining the need for retailers to have alternative delivery solutions available at all times should one of their providers fail."


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Bank Of England To Monitor Social Networks

By Ed Conway, Economics Editor

What you search for on Google and post on Facebook could soon influence what happens to interest rates.

The Bank of England has set up a special taskforce to monitor the internet and social networks for early signs of Britain's economic ups and downs.

The special team, set up by the Bank's chief economist, Andy Haldane, has been charged with exploring how new unconventional sources of data could improve its picture of Britain's recovery.

In an interview with Sky News, Mr Haldane said that the Bank had started to explore using unconventional data, including data gleaned from analysing internet activity, after it found that it could be more timely than the official data.

For instance, analysis of the frequency of internet job searches, or of prices online, can give one an insight into the prospects for unemployment and inflation.

"Official statistics tend to be lagging and tend to be revised. And what this scraping of the web can do is give us a better today read on what's going on," he said.

He added that these and other "informal sources" of data "have been somewhat more reliable in picking up the uptick in the fortunes of the economy".

Mr Haldane told Sky News that the Bank was already using new data sources, including a massive "big data" database on mortgages, which helped them decide to impose their new constraints on the housing market earlier this year.

"Some of those interventions were calibrated by analysing this big database on mortgage borrowing by pretty much everyone in the UK," he said.

"We have a new advanced analytics team who are constructing little models, algorithms and methods for extracting this data. We have a data lab. This is quite a big strategic change for the bank.

"This is going to be quite a big shift from the past."


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Online Shoppers To Break Xmas Day Records

Written By Unknown on Jumat, 26 Desember 2014 | 11.46

Christmas Day online shoppers are predicted to set a new spending record splashing out an estimated £636m today.

Shoppers are expected to make 142 million visits to retail sites today - a 25% increase on last year.

Research by Experian and online retailing trade association IMRG found Britons will spend around £441,000 a minute.

"The ease of shopping online via connected devices raises the prospect of a very large amount of shopping activity on Christmas Day itself," said Experian general manager of consumer insight Giles Longhurst.

Dominic Trigg, managing director for Europe of digital advertising technology company Rocket Fuel, said: "Shopping online on Christmas Day is now a normal part of UK consumers' holiday experiences every year.

"It is clear that UK consumers now see shopping from the comfort of their own home, following Christmas Day dinner, as much of a tradition as a turkey and ham dinner."

Shoppers have already been enjoying heavy discounting as some stores began their traditional Boxing Day sales up to two days early.

Britain's retail sector has already been celebrating a record-breaking year as official figures are projecting an all-time high for sales in 2014.

The forecast from the Office of National Statistics shows that sales for the year are expected to reach £342bn - a £48bn increase since 2010.

Pre-Christmas sales are up by 5.2% compared with last year.


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2,700 Jobs At Risk As City Link Collapses

By Mark Kleinman, City Editor

More than 2,700 jobs are at risk over the festive period after one of the UK's biggest parcel delivery services companies collapsed into administration.

Sky News has learnt that City Link, which has been a perennial loss-maker, called in the professional services firm EY on Christmas Eve and immediately ceased accepting parcels from customers.

A public statement confirming the move is expected to be circulated on Friday.

The news comes at the start of what is expected to be a frenetic period for retailers, with many chains beginning their Boxing Day sales online 24 hours earlier.

City Link, which is owned by the investment firm headed by Jon Moulton, the veteran venture capitalist, is understood to count John Lewis among its largest clients.

John Lewis said it has transferred all its business with the company to alternative carriers.

"John Lewis has worked with City Link during this challenging period and provided significant support to enable them to trade," a spokesperson said.

"It is always a matter of deep regret when any of our suppliers are unable to continue with their business."

In a statement issued to Sky News, EY confirmed its appointment, saying it had put in place the ban on accepting new parcels at its Coventry head office, three other transport hubs and 53 depots across the UK.

"The company has entered administration as a result of continued substantial losses and is unable to continue accepting new parcels due to the further losses it would incur," it said.

The scale of possible job losses among City Link's 2,727 employees has not yet been identified, although EY said they were likely to be '"substantial" following an unsuccessful process to identify a new owner.

A number of staff would be retained to help return parcels to customers and assist with winding down City Link's operations, the administrator said.

Mr Moulton's firm, Better Capital, bought the courier and parcel delivery group last year, paying just £1 to its previous owner, the pest control firm Rentokil.

City Link has been loss-making for many years, suffering from poor systems and intense competition from rivals buoyed by the explosion in online shopping.

A number of competitors, such as Yodel, were the target of consumers' fury in the run-up to Christmas amid a series of delays.

Last month, Better Capital wrote down the value of its £40m investment in City Link by 50% and said that "various options to maximise the value of the (holding)".

In the wake of a £14m loss for the 2013-14 financial year, City Link's owner added that the business had "progressively deviated from its monthly profit budget during its current year to 31 December driving the conclusion that its current structure is unsustainable in the long term".

Better Capital blamed the worsening outlook on "excess (and increasing) capacity in the sector, made worse by customers developing their own delivery capabilities".

The administrators said customers who had handed over parcels to City Link on Christmas Eve should go to a depot to retrieve them on or after December 29.

The company's online parcel tracking system and helpline telephone numbers remained open to enable fulfilment of existing orders, EY added.

City Link's website said it had annual revenues of approximately £300m, a fleet of 1,700 vehicles and delivered 60m items each year.

A Better Capital spokesman could not be reached for comment.


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City High-Flyer In Sudden Exit From Signia

Written By Unknown on Kamis, 25 Desember 2014 | 11.46

By Mark Kleinman, City Editor

A top City wealth management firm backed by the billionaire founder of Phones 4U has seen its chief executive quit suddenly in the wake of a string of executive departures.

Sky News understands that Nathalie Dauriac-Stoebe, a former Coutts partner who founded Signia Wealth in 2010, resigned earlier this week and left immediately.

Sources said there had been tensions between Ms Dauriac-Stoebe and senior colleagues despite the success of Signia, which manages £2.3bn on behalf of high net worth clients.

Signia was established with the backing of John Caudwell, the founder of Phones 4U, which collapsed into administration amid acrimonious circumstances earlier this year.

Mr Caudwell had had no involvement with the mobile phone retailer since selling it to private equity firms nearly a decade ago, instead committing his time and money to philanthropic ventures and private business interests such as Signia.

Ms Dauriac-Stoebe is widely regarded as one of the rising stars of the City, and is frequently named in lists of the financial sector's leading women executives.

Last year, the Daily Mail reported that she had hosted a private dinner attended by Nick Clegg, the Deputy Prime Minister, and some of Signia's clients.

It is unclear whether she will be prevented under the terms of her departure from launching or joining another wealth management business in the near future, although she remains a significant shareholder in Signia alongside Mr Caudwell.

Signia's other backers include Jon Moulton, the veteran investor, Mike Balfour, founder of the Fitness First chain, and Sir Keith Mills, the founder of the Air Miles and Nectar customer loyalty schemes and architect of London's bid to host the 2012 Olympic Games.

The departure of Ms Dauriac-Stoebe comes amid a shake-up in the regulation of the wealth management sector following the implementation of a framework called the Retail Distribution Review, which is designed to improve advice and transparency around client fees.

Meanwhile, the private banking arms of lenders such as Barclays and Royal Bank of Scotland, which owns Coutts, have been experiencing a significant period of upheaval amid broader restructuring of their parent companies.

A number of other senior executives have left Signia since its launch, including Rupert Robinson, a former Schroders executive who quit just over a year ago after less than 12 months in the job.

Signia is chaired by Paul Lester, an industrialist whose other roles include chairing the John Laing Infrastructure Fund, which recently made an audacious approach to buy parts of the struggling construction company Balfour Beatty.

A Signia spokeswoman declined to comment.


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Online Shoppers To Break Xmas Day Records

Christmas Day online shoppers are predicted to set a new spending record splashing out an estimated £636m today.

Shoppers are expected to make 142 million visits to retail sites today - a 25% increase on last year.

Research by Experian and online retailing trade association IMRG found Britons will spend around £441,000 a minute.

"The ease of shopping online via connected devices raises the prospect of a very large amount of shopping activity on Christmas Day itself," said Experian general manager of consumer insight Giles Longhurst.

Dominic Trigg, managing director for Europe of digital advertising technology company Rocket Fuel, said: "Shopping online on Christmas Day is now a normal part of UK consumers' holiday experiences every year.

"It is clear that UK consumers now see shopping from the comfort of their own home, following Christmas Day dinner, as much of a tradition as a turkey and ham dinner."

Shoppers have already been enjoying heavy discounting as some stores began their traditional Boxing Day sales up to two days early.

Britain's retail sector has already been celebrating a record-breaking year as official figures are projecting an all-time high for sales in 2014.

The forecast from the Office of National Statistics shows that sales for the year are expected to reach £342bn - a £48bn increase since 2010.

Pre-Christmas sales are up by 5.2% compared with last year.


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Russian PM Admits 'Risk Of Deep Recession'

Written By Unknown on Rabu, 24 Desember 2014 | 11.46

Russia's prime minister has admitted the country is at risk of entering a period of "deep recession," according to a news agency.

Dmitry Medvedev's comments - quoted by RIA Novosti - were made as the country stepped up its efforts to shore up the rouble - battered in value through a toxic combination of weak oil prices alongside Western sanctions over Russia's actions in Ukraine.

The latest move to boost the currency was announced on earlier on Tuesday by the central bank, which pressured state-owned firms to sell foreign currency reserves.

The companies were reported by a newspaper, Kommersant, to include the oil majors Gazprom and Rosneft.

Just 24-hours earlier, the bank set a limit for its overnight foreign exchange swap operations at $10bn to help alleviate the shortage of roubles.

The currency - which tumbled to almost 80 to the dollar at the height of its collapse - was trading at two-week highs of 52 against the dollar on Tuesday but remained susceptible to shocks.

Economists say the crisis risks a repeat of soaring inflation and mass protests - last seen in the country's financial woes of 1998 which wiped out people's savings.

The Russian economy's dependence on oil - and its failure to diversify - means it is particularly vulnerable to slides in world oil prices.

The collapse in oil costs - by up to 50% - sees Brent crude currently at $60.8-per-barrel.

There is no sign of an imminent increase as the Saudi oil minister, who has the most clout among the members of the powerful OPEC cartel, has said there will be no production cuts to boost prices even if Brent falls as low as $20.

The sanctions make it almost impossible for Russian firms to borrow from the West.

Consumers have been snapping up 'big ticket' items ahead of steep price increases while foreign companies, including Jaguar Land Rover and Apple, have suspended sales in Russia.

Mr Medvedev told a political gathering the Russian economy was in a worse place now than in the 2008 financial crisis because "a number of countries are effectively hampering the development of our economy."

He insisted the Government could not retreat from its strategic aims and social spending for risk of plunging Russia into a "deep recession."

Russia is tipped to officially enter recession - defined as two consecutive quarters of negative growth - in the spring.

Mr Medvedev's comments follow those of another key ally of President Vladimir Putin, former finance minister Alexei Kudrin, who urged the Kremlin on Monday to begin negotiations with the West on sanctions to avoid a "full-blown economic crisis."


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RBS Investigates Over 50 Staff In Forex Probe

Royal Bank of Scotland (RBS) says it is investigating the conduct of more than 50 past and present staff and suspended bonuses for 18 people as part of its forex scandal inquiry.

In an update today on the accountability review, initiated after it was among five banks fined a total of £2.6bn by regulators last month, RBS said six senior employees had been placed in a disciplinary process.

Three of those members of staff were currently away from their desks, pending continuing investigations, RBS said.

The bank was handed fines totalling £400m in November after it settled separate cases with US regulators and the City watchdog, the Financial Conduct Authority.

Settlement notices showed market rules were breached over years through collusion between foreign exchange traders.

The RBS statement on its continuing review said: "These investigations are complex, and the bank is striving to complete the review as soon as possible.

"The bank will provide a further update when the review is complete, which we expect to be in the first quarter."

It added: "Currently the unvested awards of 18 individuals remain suspended pending the outcome of the review.

"The awards will not vest until the process is complete.

RBS Head of Conduct and Regulatory Affairs, Jon Pain, who is leading the review said: "We are undertaking a robust and thorough review into the actions of the traders that caused this wrongdoing and the management that oversaw it.

"This is a complicated process but also an essential one in order to identify culpability and accountability for this unacceptable misconduct.

"To be clear, no further bonus payments will be made or unvested bonus awards released to those in scope of the review until it has concluded and its recommendations have been considered by the Remuneration Committee and the Board Risk Committee.

"There is no place for any misconduct at the RBS we are building. We want to get these things settled so we can put these issues behind us and get on with rebuilding trust in this bank."

The Chancellor confirmed plans this week to amend legislation so traders who rig rates in future could face jail terms of up to seven years.


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Tesco Crisis: Accounting Probe Launched

Written By Unknown on Selasa, 23 Desember 2014 | 11.46

By Mark Kleinman, City Editor

The accounting watchdog is to scrutinise the former finance director of Tesco during a probe into the financial statements of Britain's biggest retailer.

Sky News understands that Laurie McIlwee, who left Tesco in April and had no role in the half-year results which triggered its accounting crisis in September, will face questions as part of the Financial Reporting Council's (FRC) investigation.

The FRC confirmed on Monday that it had commenced an inquiry into the "preparation, approval and audit" of Tesco's financial results following the disclosure that its profits had been overstated by £263m.

Members of Tesco's audit team at PricewaterhouseCoopers (PwC) will also be central to the FRC inquiry, which will examine statements dating back to the year ended 25 February 2012, and their impact on "the matters reported in the company's interim results for the 26 weeks ended 23 August 2014".

It is unclear whether Mark Armour, a Tesco director and member of its audit committee who also sits on the FRC board, will form part of the investigation.

The accounting body's inquiry will run alongside that of the Serious Fraud Office (SFO), which said in November that it had launched a criminal probe into the affair.

Mr McIlwee resigned in April and left Tesco's head office almost immediately after being asked not to return by the then chief executive, Philip Clarke.

Sources said that Mr McIlwee had not personally signed off Tesco's 2013-14 accounts.

Tesco's outgoing chairman, Sir Richard Broadbent, was forced to clarify remarks made in September that Mr McIlwee had not been at Tesco for "days and weeks", eventually admitting that he had not been called upon since April.

After his departure, Mr Clarke formed a separate finance committee to oversee the preparation of future financial statements.

According to insiders, members of that committee included Carl Rogberg, the former UK finance director, Mr Clarke himself, and Mike Iddon, who is now chief financial officer at New Look.

The £263m profits overstatement, announced by Mr Clarke's successor, Dave Lewis, triggered the suspension of at least eight executives, including Mr Rogberg, at least four of whom have since left the company.

One, Matt Simister, has been reinstated, while the fate of three others remains unclear.

The overstatement was a result of the way Tesco managers booked income from commercial suppliers, prompting Mr Lewis to announce an overhaul of those relationships.

The FRC has the power to impose unlimited fines and bans on individual members and member firms following formal disciplinary procedures.

Although widely expected, the formal confirmation of its investigation is a further distraction for Mr Lewis, who is attempting to improve Tesco's domestic performance in the wake of another devastating profit warning.

It issued its fourth profits warning in a year earlier this month, saying that full-year earnings would not exceed £1.4bn - well short of City forecasts of around £1.94bn.

Mr Lewis will update the City on Christmas trading and his broader plans to reinvigorate Tesco on January 8.

Tesco and the FRC declined to comment further, while Mr McIlwee could not be reached for comment.


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Ex-B&Q Chief In Frame For Top Whitehall Role

By Mark Kleinman, City Editor

The former boss of B&Q's parent company is being lined up to take a key role in Whitehall as ministers prepare for a swingeing new round of public spending cuts.

Sky News has learnt that Sir Ian Cheshire, who stepped down as chief executive of Kingfisher earlier this month, is among a small number of candidates to succeed the former BP boss Lord Browne as the Government's lead non-executive director.

The appointment of Sir Ian has yet to be finalised, although he is understood to be the preferred choice of a number of key Whitehall decision-makers and could be announced as soon as next month.

The role has assumed growing significance since being established in 2010 as part of an attempt by the Conservative-led Coalition to improve governance across Government departments.

Upon his appointment as the lead non-executive director at the Department for Work and Pensions in January 2011, Sir Ian said:

"The opportunity to support the Department in delivering its ambitious programme of reform is one I welcome.

"I believe that Government and business should be working together and sharing experience and expertise and I am pleased to be playing my part in this approach."

The appointment of Sir Ian as Lord Browne's successor is understood to be subject to cross-party approval given the proximity of next May's General Election.

Labour sources said they were not opposed to the continuing involvement of business leaders as non-executive directors of Government departments.

A Whitehall insider said that other candidates for the lead non-executive role may also be in contention.

Among those recruited by ministers in 2010 were Rona Fairhead, now chair of the BBC Trust; Sam Laidlaw, the outgoing chief executive of Centrica; and Sir Andrew Witty, chief executive of GlaxoSmithKline.

The appointment of business leaders to the boards of Government departments has received a mixed reaction, with Lord Browne himself acknowledging in an interview with the Financial Times that the initiative had had a "mixed report card".

Sir Ian, who has had a successful career in the retail sector, will remain as a director of Kingfisher until next month, and he has been linked with the chairmanship of Tesco.

He was also approached earlier this year about becoming chief executive of the Civil Service, but turned down the role, which was eventually filled by John Manzoni, a former BP executive.

Lord Browne said last month: "Francis Maude has demonstrated determined commitment to Civil Service Reform and, under his leadership Whitehall has been transformed for the better.

"There is much more to do, but it is now time for a new perspective on that process."

Sir Jeremy Heywood, the Cabinet Secretary, said the Civil Service had "made real progress in addressing long-standing weaknesses in commercial, digital and project-management skills and strengthening departmental governance, management information and talent management".

The Cabinet Office declined to comment on the appointment of Lord Brown's replacement, saying that an announcement would be made in due course.


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Push To Get More Women Into The Cockpit

Written By Unknown on Senin, 22 Desember 2014 | 11.46

By Charlotte Lomas, Sky News Reporter

More than four decades after the first British female pilot took to the skies in a commercial airliner, there are still few women choosing flying as a career. But why are there so few female pilots?

Of the 3,500 pilots employed by British Airways, just 200 are women and this is more than any other UK airline.

Globally, 4,000 of the 130,000 airline pilots are female and fewer still are captains - worldwide there are around 450.

Helen Macnamara has been a British Airways pilot for 14 years after enrolling on a sponsorship scheme once she left university.

"I like to see the world and different places and I enjoy the magic of flying itself," she said.

"Once you have the passion for it, then that's it really".

Helen, 38, believes the reason so few women go into flying may stem from a lack of opportunities in the past.

She said: "I think historically there were less women involved in aviation and that has been changing throughout my career.

"I think it's important females see this as an option and that there are role models in our industry."

One such role model is TV presenter and now fully trained pilot, Carol Vorderman.

She is planning to embark on a solo round-the-world flying trip and is supporting a recruitment drive by British Airways to get more women in the cockpit.

Carol said: "I always wanted to be a pilot since I was very young.

"It was the reason I read Engineering at Cambridge, and ideally would have joined the RAF or a commercial airline after graduating, but sadly this was not an option then.

"I think the reason so few women enter the profession can be traced back to schools, home and the media. Girls need to be encouraged more to pursue sciences, maths and technology at school and realise different paths are open to them."

Although many women work in the aviation industry as a whole - piloting is still very much a male-dominated profession.

Jim McAuslan, the general secretary of BALPA, the British Airline Pilots Association, is hoping this will change.

He said: "Women make great pilots, unfortunately only five percent of our members and British pilots are women, and that's disappointing.

"So we're reaching out to women to find why they're not coming forward. Perhaps it's because of their choice of careers at an earlier age. Engineering is a great way to get into flying, so perhaps people should look at their careers early on.

"But our big message would be: have the dream."

Some critics argue that women face prejudice when considering a career in flying.

In 2009 a Virgin Airlines advert featuring glamorous female flight attendants flanking a male pilot received complaints it was sexist.

So too did an Air New Zealand in-flight safety video where women were dressed bikinis.

But Helen says that she has never experienced any negativity. Most passengers are simply surprised to have a female pilot, she said.

"Actually when members of the public come to our flight simulator where we train, it is usually the women who fare better than the men.

"They are softer with the manoeuvres and males can be more heavy handed."

In an industry where fewer than 5% of pilots are women it's hoped more will be landing safely on the tarmac in future.


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ITE Exhibits Move From Sanctions-Hit Russia

By Mark Kleinman, City Editor

A London-listed exhibitions firm will this week announce a £20m takeover that will reduce its reliance on Russia amid the country's currency crisis and the ongoing impact of international sanctions.

Sky News has learnt that ITE Group, which has a market value of more than £350m, is to acquire Breakbulk, a leading provider of shipping and logistics intelligence.

The deal, which is understood to include an additional performance-related payment based on future revenues, is expected to be announced on Monday.

Investors in ITE are expected to view the takeover as a welcome diversification from the company's dependence upon Russia and emerging markets for the majority of its revenues.

Roughly 60% of ITE's sales are generated in Russia, which has seen a plunge in the value of the rouble in recent weeks as evidence of the weakness of the country's economy has mounted.

ITE's chief executive recently acknowledged "currency headwinds and difficult trading conditions in Russia and Ukraine", but managed to beat analysts' profit forecasts despite a decline in sales.

The Russian economy's travails are the main factor behind a near-52% fall in ITE's share price during the last 12 months, prior to which it was in the FTSE-250 index.

Breakbulk runs annual exhibitions - held in Shanghai, the Belgian port of Antwerp and, in alternating years, New Orleans and Houston - for senior executives in logistics roles in sectors such as energy and infrastructure.

Reflecting rapid growth in demand, Breakbulk has also added exhibitions in Brazil, South Africa and Turkey.

The business is part of Axio-Data, which has been owned by Electra Partners, a private equity firm, since last year.

It had previously been under the umbrella of UBM, the much larger media and events group listed on the London Stock Exchange.

Announcing annual results earlier this month, Russell Taylor, ITE chief executive, said it remained "sensitive to the economic climate in Russia but has increasingly good growth prospects in its other markets".

An ITE spokesman declined to comment.


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Push To Get More Women Into The Cockpit

Written By Unknown on Minggu, 21 Desember 2014 | 11.46

By Charlotte Lomas, Sky News Reporter

More than four decades after the first British female pilot took to the skies in a commercial airliner, there are still few women choosing flying as a career. But why are there so few female pilots?

Of the 3,500 pilots employed by British Airways, just 200 are women and this is more than any other UK airline.

Globally, 4,000 of the 130,000 airline pilots are female and fewer still are captains - worldwide there are around 450.

Helen Macnamara has been a British Airways pilot for 14 years after enrolling on a sponsorship scheme once she left university.

"I like to see the world and different places and I enjoy the magic of flying itself," she said.

"Once you have the passion for it, then that's it really".

Helen, 38, believes the reason so few women go into flying may stem from a lack of opportunities in the past.

She said: "I think historically there were less women involved in aviation and that has been changing throughout my career.

"I think it's important females see this as an option and that there are role models in our industry."

One such role model is TV presenter and now fully trained pilot, Carol Vorderman.

She is planning to embark on a solo round-the-world flying trip and is supporting a recruitment drive by British Airways to get more women in the cockpit.

Carol said: "I always wanted to be a pilot since I was very young.

"It was the reason I read Engineering at Cambridge, and ideally would have joined the RAF or a commercial airline after graduating, but sadly this was not an option then.

"I think the reason so few women enter the profession can be traced back to schools, home and the media. Girls need to be encouraged more to pursue sciences, maths and technology at school and realise different paths are open to them."

Although many women work in the aviation industry as a whole - piloting is still very much a male-dominated profession.

Jim McAuslan, the general secretary of BALPA, the British Airline Pilots Association, is hoping this will change.

He said: "Women make great pilots, unfortunately only five percent of our members and British pilots are women, and that's disappointing.

"So we're reaching out to women to find why they're not coming forward. Perhaps it's because of their choice of careers at an earlier age. Engineering is a great way to get into flying, so perhaps people should look at their careers early on.

"But our big message would be: have the dream."

Some critics argue that women face prejudice when considering a career in flying.

In 2009 a Virgin Airlines advert featuring glamorous female flight attendants flanking a male pilot received complaints it was sexist.

So too did an Air New Zealand in-flight safety video where women were dressed bikinis.

But Helen says that she has never experienced any negativity. Most passengers are simply surprised to have a female pilot, she said.

"Actually when members of the public come to our flight simulator where we train, it is usually the women who fare better than the men.

"They are softer with the manoeuvres and males can be more heavy handed."

In an industry where fewer than 5% of pilots are women it's hoped more will be landing safely on the tarmac in future.


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North Korea: We Can Prove Hacking Wasn't Us

North Korea: We Can Prove Hacking Wasn't Us

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North Korea says it can prove it had nothing to do with the cyber-attack on Sony and proposes a joint investigation with the US.

The North Korean news agency KCNA warned there would be "grave consequences" if the White House declined the offer.

State media called the FBI's claim that North Korea was behind the attack on the entertainment giant a "slander".

The North's foreign ministry, quoted by KCNA, said: "As the United States is spreading groundless allegations and slandering us, we propose a joint investigation with it into this incident.

"Without resorting to such tortures as were used by the US CIA, we have means to prove that this incident has nothing to do with us."

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  1. Gallery: Kim Jong Un Seen Amid US Tensions

    North Korean leader Kim Jong Un smiles as a huge crowd surrounds him while he gives field guidance at the Kim Jong Suk Pyongyang Textile Mill

North Korea stated it can prove it had nothing to do with the recent cyber-attack on Sony and proposed a joint investigation with the US

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The North Korean news agency KCNA warned there would be "grave consequences" if the White House declined the offer. Continue through for more images

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North Korea: We Can Prove Hacking Wasn't Us

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North Korea says it can prove it had nothing to do with the cyber-attack on Sony and proposes a joint investigation with the US.

The North Korean news agency KCNA warned there would be "grave consequences" if the White House declined the offer.

State media called the FBI's claim that North Korea was behind the attack on the entertainment giant a "slander".

The North's foreign ministry, quoted by KCNA, said: "As the United States is spreading groundless allegations and slandering us, we propose a joint investigation with it into this incident.

"Without resorting to such tortures as were used by the US CIA, we have means to prove that this incident has nothing to do with us."

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North Korea stated it can prove it had nothing to do with the recent cyber-attack on Sony and proposed a joint investigation with the US

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The North Korean news agency KCNA warned there would be "grave consequences" if the White House declined the offer. Continue through for more images

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