Ryanair shares fall as airline slashes profit guidance amid strike action October 1, 2018 Shares in budget airline Ryanair are down eight per cent this morning after it downgraded its full-year profit guidance by 12 per cent following a series of summer strikes by pilots and cabin crew. Chief executive Michael O'Leary blamed the downgrade on lower passenger traffic and forward bookings made because of the strikes. It now expects [...]
Easyjet soars towards full-year profit targets September 28, 2018 Easyjet today told investors it expected to deliver strong headline profit in its full year results, despite warnings of a no-deal Brexit hitting the airline. The company said before tax, profit for the year was likely to come in between £570m and £580m, in the upper half of previous guidance. It said passenger numbers for [...]
Ryanair strike: 250 flights cancelled and 35,000 passengers to be hit by today’s walkouts September 28, 2018 As many as 35,000 Ryanair passengers will be facing travel chaos this afternoon after the airline was forced into cancelling 250 flights as a result of strike action. The fresh wave of industrial disputes, which will affect almost double the number of flights that were previously expected to be cancelled, comes as pilots and [...]
British Airways and Easyjet among airlines ‘most exposed to a no-deal Brexit’ September 27, 2018 British Airways and Easyjet are among the airlines that are particularly vulnerable to a "no-deal" Brexit, financial services firm Moody's has warned. The possibility of a no-deal Brexit, in which the UK would crash out of the EU on terms set by the World Trade Organisation (WTO), has been ramping up in recent months, as [...]
Ryanair cancels flights for 30,000 customers ahead of cabin crew strike on Friday September 25, 2018 Ryanair has cancelled 190 flights ahead of a strike by cabin crew workers from six different countries on Friday. Friday's strike will be held by cabin crew in Spain, Belgium, Holland, Portugal, Italy and Germany. Ryanair said it has contacted the affected 30,000 customers by email or text this morning. It said 90 per cent of its flights [...]
Italy launches competition probe into Ryanair hand luggage charges September 21, 2018 Ryanair's new bag charge policy is being investigated by Italy's competition watchdog over claims it could amount to unfair commercial practice. Antitrust says hand luggage is an "essential element of transport" that should be included in the ticket price. Not doing so distorts the final price of the ticket and does not allow a true [...]
Ryanair boss to lead airline past 2019 but steers clear of five-year deal September 20, 2018 Ryanair's colourful chief executive Michael O'Leary has said he will stay on past 2019 but that he would prefer to sign a 12-month rolling contract instead of a five-year deal. O'Leary, who has led the airline since 1994, was speaking at the airline's AGM, which the media was originally banned from attending. He said he would prefer [...]
Investors wield knife but Ryanair survives shareholder revolt September 20, 2018 Ryanair’s under-fire chair David Bonderman survived a shareholder revolt this morning, as nearly 30 per cent of investors voted against his re-election. Senior Ryanair directors Howard Millar and Kieran McLaughlin were also subject to an investor backlash, with voting approval of 78.5 per cent and 66.8 per cent respectively. Non-executive directors Charlie McCreevy and Declan McKeon also [...]
Passenger numbers soar nearly 40 per cent at Stobart-owned London Southend Airport September 20, 2018 Passengers numbers at Stobart-owned London Southend Airport soared nearly 40 per cent in the first half of this year. Stobart, which purchased the airport in 2008, said the growth would continue next year, when budget airline Ryanair begins flying at the airport in the spring, adding on another 1m passengers. Easyjet will also bolster the number [...]
Ryanair investor Royal London to oppose re-election of airline’s chair at AGM September 19, 2018 Royal London Asset Management (RLAM) is the latest Ryanair investor to pledge to vote against the re-election of the airline's long-serving chairman David Bonderman at its AGM tomorrow. Royal London said it was concerned with Ryanair’s corporate governance and "poor stakeholder management". "We have had long-standing issues with the independence of Ryanair’s board and with the extent [...]