EU slaps Ryanair with fine over French aid money July 23, 2014 Ryanair faces having to repay €9.6m (£7.6m) in French state aid, after the European Commission found the airline had gained “an undue advantage” thanks to the money. The repayments relate to operating at three regional French airports, Angouleme, Nimes and Pau Pyrénées. Ryanair said it had instructed its lawyers to appeal against these rulings.
Ryanair passenger numbers reach new highs July 4, 2014 Passenger numbers for Europe's biggest low-cost carriers continued to soar in June as Ryanair announced record figures today. Ryanair reported that June traffic grew five per cent to 8.3m travellers, compared to 7.9m last year. With that rise, the budget airline has flown a record 82.7m customers in the year to June 2014, up three [...]
Ryanair finance head Howard Millar is second deputy chief to depart this year June 30, 2014 Ryanair’s finance chief Howard Millar is leaving the airline after 23 years, becoming the second deputy chief executive to quit the low-cost carrier in a year. Millar, 53, is leaving in December “to pursue other career activities”, a statement from Ryanair said yesterday. However he is not cutting all ties, as he will become a [...]
Ryanair makes its bond debut by raising €850m for planes June 10, 2014 BUDGET airline Ryanair issued its first ever bonds yesterday, raising €850m (£687m) to help finance its order for 180 new Boeing planes. Ryanair said the seven-year, euro-denominated bonds were eight times oversubscribed and attracted investors from across Europe. The firm, whose shares are listed in London and Ireland, claims its BBB+ debt rating makes it [...]
Ryanair raises hopes after its profits decline May 19, 2014 RELIEVED Ryanair investors yesterday took the budget airline’s shares 10.6 per cent higher after the firm’s first fall in profits for five years was less steep than expected. The Irish airline said net profits fell eight per cent in the year to the end of March to €523m (£426m), slightly above its own prediction of [...]
Slashed fares hit Ryanair profits May 19, 2014 Ryanair’s reported net income of €523m (£426m) for the year ending in March. That’s a eight per cent drop from the €569m it made a year earlier. Fares fell four per cent, as the budget airline reacted to a tougher environment of a weaker pound and higher fuel costs. As a result, it saw its [...]
Ryanair gets a credit rating as it prepares to tap the bond market March 20, 2014 RYANAIR was given a credit rating of BBB+ yesterday, taking the budget airline a step closer to issuing bonds. Standard & Poor’s said the rating reflected Ryanair’s “industry-leading profitability” along with the risks associated with its “reputation for providing less customer-friendly services than some of its peers”. S&P has deemed Ryanair to be three notches [...]
Benefficient can give Ireland a long overdue success in the Ryanair March 12, 2014 BILL ESDAILE PREVIEWS THE RYANAIR CHASE AND THE KIM MUIR THE outspoken Michael O’Leary has made no secret of his desire to see one of his horses, running in the famous maroon Gigginstown Stud colours, win the race sponsored by the airline that made his fortune. Apart from the inaugural running of this Grade One [...]
Italy slaps fines on Ryanair and EasyJet for unfair insurance practices February 17, 2014 Budget airline Ryanair has been fined €850,000 (£694,000) by Italy’s antitrust authority for lack of transparency when it comes to their optional insurance offerings. EasyJet was also fined €200,000 for the same thing. The authority said today that Ryanair has been given 30 days to respond on how it intends to make its optional flight [...]
The nice side of Ryanair begins to boost traffic February 3, 2014 RYANAIR said its customer services revamp was already impressing passengers, pushing its shares higher yesterday despite a pre-tax loss of €35m (£29m) in the final three months of 2013. The low-cost carrier cut its average fare by nine per cent in the quarter to try and shore up its sales. Demand has now “stopped falling, [...]