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 [...]
Easyjet partners with US firm developing futuristic ‘blended-wing’ plane September 4, 2024 Easyjet has announced a tie-up with a US-based firm to develop revolutionary “blended-wing” technology it claims will cut fuel burn by 50 per cent. The budget airline is the first European airline to partner with Jetzero, which has already attracted support for its project from Alaska Airlines, NASA and the US Air Force, ahead of [...]
Airspace reform is being ‘shackled by needless bureaucracy,’ Easyjet chief warns September 4, 2024 UK and European airspace reforms that would reduce flight times and emissions are being “shackled by needless bureaucracy,” according to the chief executive of Easyjet. Speaking at a Net Zero conference in Bedford, Johan Lundgren said airspace modernisation was the “quickest way to reduce carbon emissions” but warned it couldn’t be “kicked down the road [...]
Rolls-Royce shares top the FTSE 100 despite Cathay Pacific engine issues September 3, 2024 Cathay Pacific was forced to ground fleets for inspection after it discovered a "first of its type" component fault in one of its Rolls-supplied engines.
Aircraft orders still lagging behind despite UK airlines hitting 2024 high August 23, 2024 The number of aircrafts being ordered by UK airlines hit its highest monthly figure in July as a slew of deals at the Farnborough Airshow helped the industry weather wider supply chain issues. Some 131 orders were placed over the month, outpacing every other month in 2024 and representing the largest July delivery rate on [...]