Ryanair’s profits ‘will rise’ as recession forces passengers to opt for cheaper fares January 5, 2023 Low-cost airline Ryanair has raised its profit guidance for its full year 2023 to between €1.32bn (£1.16bn) and €1.42bn (£1.25bn). This is a 25 per cent boost on its initial range of between €1bn and €1.20bn. Analysts at Liberum raised Ryanair’s forecast after a better than expected third quarter; Ryanair carried 11.5 million passengers in [...]
Ryanair passenger levels jump as low-cost carriers weather recession January 4, 2023 Ryanair reported a jump in passenger levels today in a sign that low-cost carriers are managing to weather the cost-of-living crisis. Figures published today show that the low-cost airline carried 11.5 million passengers in December, 21 per cent up on last year’s levels. Numbers were also up on November’s 11.2 million travellers. Load factor – the [...]
Airlines ‘extremely disappointed’ by wave of China-targeted Covid restrictions January 4, 2023 The global industry body for airlines has said it is “extremely disappointed” by countries’ decisions to introduce restrictions on travellers from China after Covid cases have skyrocketed in the country following Beijing’s decision to ditch its zero-Covid policy. The International Air Transport Association (IATA), which represents around 300 airlines across the globe, described the wave [...]
Awards 2023 January 4, 2023 The City is back, and so are the City A.M. Awards, recognising the best of the Square Mile, Canary Wharf and London’s business community – which has shown shown resilience, innovation and adaptability like never before over the past year. We’re delighted to host what will be a wonderful celebration of the capital’s rebound, but [...]
UK airlines and airports lag behind global rivals when it comes to being on time January 3, 2023 UK airlines and airports continue to lag behind international rivals when it comes to being on time, according to new research released today. No British airlines or airports ranked in the top 10 for on-time performance, according to data from Cirium’s On-Time Performance report. Cirium, an aviation analytics firm, considers an airline to be on [...]
FTSE 100 shakes off January blues to pop on first trading day of 2023 January 3, 2023 The FTSE-100 shrugged off fears of industrial unrest and a slowdown across Asian markets this morning as it jumped beyond 1.5 per cent at market open.
BA aircraft returned to Heathrow after emergency technical issue December 29, 2022 A British Airways flight was forced to do a U-turn and come back to Heathrow due to technical problems this evening. Britain’s biggest airport told City A.M. that BA348 from London to Nice landed back at Heathrow just 40-minutes after take-off, and was put on stand-by. It added that emergency services were attending on scene [...]
Heathrow strikes: Airport says departures and arrivals still operating ‘smoothly’ December 24, 2022 BORDER FORCE strikes at Heathrow appear so far to be having little impact on the airport’s arrivals and departures. A spokesperson for the airport told City A.M. this morning that despite a walkout by staff, “operations continue to run smoothly and the airport is operating as normal. The Immigration halls are free flowing with Border [...]
Airlines to spend £58m extra in fuel as Border Force strike hits UK December 23, 2022 Airlines are likely to spend an additional £57.9m in fuel due to the ongoing Border Force strikes, according to City A.M. calculations. Members of the union PCS working at several UK airports, including Heathrow and Gatwick, are walking out from today to Boxing Day as well as between 28 and 31 December over salaries. Industry [...]
Border Force calls on airlines to adjust schedules and keep passengers flowing amid strikes December 21, 2022 Border Force has called on airlines to make changes to their schedules to guarantee a smoother flow of passengers amid the upcoming strikes. “We will expect operators to make any adaptations which could lead to some changes in schedules just to ensure a smooth flow of operations,” said chief operating officer Steve Dann. The government [...]