BENGALURU: British builder Carillion, which has issued two profit warnings this year, named Andrew Davies as its chief executive on Friday, bringing in a former executive of defense company BAE Systems to help turn around its business.
Davies, currently head of family-owned builder Wates Group, will take over from interim CEO Keith Cochrane on April 2, Carillion said.
The appointment comes three months after the small-cap construction and support services company fired its CEO and announced an £845 million write-down on construction contracts and a profit warning. It issued a second profit warning in September.
Now, 54-year-old Davies’ biggest task at Carillion will be to reduce its large debt pile, which is expected to reach about £1 billion by the end of the year, analysts say.
“Sorting out the balance sheet and sorting out the enormous debt Carillion has, that will have to be (Davies’) focus and if he can do that, then it will be a very good thing for the company,” Liberum analyst Tom Musson said.
In positive news, Carillion this week agreed to new credit facilities and deferrals on some debt repayments and pension obligations, which together are expected to improve its undrawn credit in 2018. However, the group has said it may need to undertake a share placement.
Davies has been CEO at Wates Group since 2014. The company reported a more than 20 percent jump in 2016 turnover to £1.5 billion.
Sky News had reported in March that housebuilder Bovis had considered Davies for its top job. The group was then battling a profit warning and facing fire from buyers over the quality of some of its homes.
“The swift appointment of an experienced CEO with a relevant background might be seen a positive for the stock,” Applied Value analyst Stephen Rawlinson wrote in a note.
British builder Carillion names former BAE executive as CEO
British builder Carillion names former BAE executive as CEO
Major airlines suspend, reroute flights amid US-Israel strikes on Iran
- Saudia says decision taken in line with aviation safety and security standards
- Emirates said it temporarily suspended it's operations out of Dubai
RIYADH: Major international airlines across the Middle East and South Asia have suspended, canceled or rerouted flights following ongoing US-Israel attacks on Iran and the resulting airspace closures, according to official statements issued via X.
Saudia said in an official statement that it had canceled a number of flights due to developments in the region and the closure of airspace.
The airline said the decision was taken in line with aviation safety and security standards, noting that its Emergency Coordination Center is closely monitoring developments with relevant authorities.
Saudia urged passengers to verify the status of their flights before heading to the airport and said guests would be notified of updates through the contact details associated with their bookings.
The carrier added that further information would be announced in a subsequent statement if available.
بيان رسمي من #الخطوط_السعودية pic.twitter.com/CHfjKj9yLX
— Saudia Group | مجموعة السعودية (@SaudiaGroup) February 28, 2026
Air Arabia said its flights were experiencing cancellations, delays or rerouting as a result of the evolving situation and airspace closures.
The airline advised passengers to check the status of their flights before traveling to the airport by visiting its website or contacting its call center.
Customers booked on affected flights will be notified directly, the airline said, adding that further updates would be provided as the situation develops.
Air India announced a broader suspension, stating that “in view of the developing situation in parts of the Middle East, all Air India flights to all destinations in the Middle East have been suspended.”
The airline said it remains committed to maintaining the highest standards of safety for passengers and crew and will continue to assess the safety and security environment for flight operations, adjusting services proactively as required.
Air India said its teams would extend necessary support to passengers and advised customers to check flight status online or contact its 24/7 call center for assistance.
#TravelAdvisory
— Air India (@airindia) February 28, 2026
In view of the developing situation in parts of the Middle East, all Air India flights to all destinations in the Middle East have been suspended. We remain committed to maintaining the highest standards of safety for our passengers and crew. We will continue to…
All flight operations at Dubai International and Dubai World Central – Al Maktoum International are suspended until further notice, according to a post by Dubai Media Office on X.
Dubai-based Emirates reported that regional airspace closures had caused disruption to several of its flights and that the airline had temporarily suspended its operations from its hub Dubai.
The airline said it is actively monitoring the situation, engaging with relevant authorities and adjusting operations in line with the latest developments.
The carrier apologized to affected customers and said it is assisting them with rebooking, refunds or alternative travel arrangements, reiterating that the safety and security of passengers and crew remain its highest priority.
Due to multiple regional airspace closures, Emirates has temporarily suspended operations to and from Dubai.
— Emirates Support (@EmiratesSupport) February 28, 2026
Emirates urges customers to check https://t.co/Ucm3UswfVh and https://t.co/yehFUeWZQq for the latest updates before proceeding to the airport.
We are actively monitoring… pic.twitter.com/SLDC7iNaUN
In a statement, Etihad Airways also confirmed that all flights scheduled to depart Abu Dhabi are suspended until 14:00 UAE time on Sunday, March 1.
It also announced that all flights scheduled to arrive in Abu Dhabi before 14:00 UAE time on Sunday will be cancelled. Services scheduled to arrive after that time are expected to operate, subject to operational conditions.
Qatar Airways confirmed a temporary suspension of flights to and from Doha due to the closure of Qatari airspace.
The airline said it is working closely with government stakeholders and relevant authorities to support impacted passengers and will resume operations once the airspace reopens.
It warned that delays are anticipated when usual operations resume and said additional ground staff have been deployed at Hamad International Airport and other key airports to assist passengers.
Temporary Suspension of Qatar Airways Flights due to Qatari Airspace Closure
— Qatar Airways (@qatarairways) February 28, 2026
Qatar Airways Group confirms the temporary suspension of its flights to, and from, Doha due to the closure of Qatari airspace.
The airline is working closely with government stakeholders and the…
Meanwhile, Al Jazeera reported that British Airways had canceled flights to Tel Aviv and Bahrain, adding to the list of carriers adjusting operations.
Across their statements, airlines consistently cited airspace closures and safety considerations as the primary reasons for suspensions and disruptions, while urging passengers to monitor official channels for updates as the situation continues to evolve.
