Easyjet: Golden goodbye for departing CEO Johan Lundgren December 10, 2024 The departing chief executive of Easyjet has been handed a golden goodbye to the tune of almost £3m ahead of stepping down next month. Johan Lundgren has pocketed £2.88m ahead of handing over to Kenton Jarvis in the New Year. The pay packet is up from the £2.19m Lundgren received in the prior year. The [...]
Why Virgin Atlantic boss won’t meet British Airways chief alone November 25, 2024 The boss of Virgin Atlantic has revealed the legacy of the dirty tricks scandal in the early 1990s will mean he will never meet his British Airways counterpart alone. Shai Weiss has said that while he has “professional respect” for Sean Doyle, he remains cautious and does “not want to get caught out”. Three decades [...]
Jet2 hikes dividend on record profit as holiday prices rise again November 21, 2024 Average package holiday prices grew six per cent to £904, with inflation leading to higher costs for consumers, Jet2 said.
Jet2 takes on Easyjet as it launches new routes from UK airport November 13, 2024 Jet2 is parking its tanks firmly on Easyjet’s lawn as it announced its expansion into London Luton Airport – where its rival is headquartered. The Leeds-headquartered carrier is to start operating flights from the transport hub from next April. London Luton Airport will become Jet2’s 13th UK base and will offer 17 destinations. Jet2 said [...]
Ryanair profit tumbles as prices fall and Boeing delivery delays hit capacity November 4, 2024 Ryanair’s half-year profit has fallen 18 per cent amid a dip in the average price of its ticket fares and ongoing Boeing delivery delays. The budget airline reported a post-tax profit of €1.79bn (£1.5bn), even as passenger demand reached a record 115m, up nine per cent year-on-year. Revenue increased one per cent to €8.58bn. However, [...]
Ryanair to cancel one in ten UK flights in 2025 after Budget tax hike November 1, 2024 Ryanair has revealed plans to cut flights to and from UK airports by 10 per cent in 2025. The low-cost airline has said it is making the move after Labour’s decision to increase the tax on airline tickets in the autumn Budget. Criticising the spending statement, Ryanair’s CEO Michael O’Leary said it has “damaged” UK [...]
BA Cityflyer: London City Airport carrier hails ‘laser focus’ as profit takes off October 4, 2024 BA Cityflyer, the main airline operating from London City Airport, has said a “laser focus” on improving its service led to increased punctuality and profit for 2023. The business, which is wholly owned by British Airways, has reported a pre-tax profit of £11.1m for the year, up from £4.3m in 2022. The figure comes after [...]
Socialists won’t stop my bumper bonus, says Wizz Air boss October 3, 2024 Varadi is blunt at times and tough to decipher, but his backstory is undeniably impressive. The 59-year-old speaks to City AM in Rome.
Wizz Air: Huge shareholder revolt over plans to hand boss bumper bonus September 26, 2024 Wizz Air has suffered a huge shareholder revolt against its plans to hand its chief executive a bumper pay deal. The airline is looking to give Jozsef Váradi a restricted share award which would represent 300 per cent of his £710,534 salary. The listed company has argued that Váradi’s compensation doesn’t reflect a unique “parade [...]
Jet2 founder Philip Meeson sells millions more shares September 11, 2024 The founder of budget airline and holidays operator Jet2 has further lowered his stake in the listed business after selling a further five million shares. Philip Meeson has sold the ordinary shares to a limited number of institutional investors. The deal involves approximately 2.3 per cent of the issued ordinary share capital in Jet2. In a statement [...]