Bottom Line: Results to show benefit of planning ahead November 18, 2013 LAST week, EasyJet revealed that it had finished testing its volcano-busting aircraft sensors, allowing planes to dodge ash clouds and keep flying after eruptions like the one that crippled European airspace in 2010. The experiment, which required EasyJet and its partners to throw a metric tonne of ash into the sky before flying four planes [...]
Letters to the Editor – 08/11 – Rail competition, Ryanair grounded, Best of Twitter November 7, 2013 Rail competition [Re: It’s time to fight the claim that consumer choice doesn’t improve public services, Wednesday] Paul Ormerod’s support of train operating companies is laughable. There is almost no true competition: I can wait all day on Greenwich platform, and only Southeastern trains will go by. There is no choice: train operating companies are state-subsidised monopolies, [...]
EasyJet adds passengers November 6, 2013 EASYJET posted a 5.4 per cent rise in traffic for the last month, prompting relieved investors to send its shares up 0.9 per cent yesterday. The firm, whose rival Ryanair issued a profit warning on Monday, said it carried 5.5m passengers in October, adding customers in spite of air traffic control strikes in France and [...]
Aer Lingus profits grow November 5, 2013 Irish airline Aer Lingus yesterday reported a 4.4 per cent rise in operating profit to €94.9m (£79.9m) for the three months to the end of September, as a 0.9 per cent drop in passengers was offset by tight cost control. The firm said tough competition on fares in Europe had kept a lid on growth, [...]
Best of the Brokers for 06 November 2013 November 5, 2013 AFRICAN BARRICK GOLD Westhouse Securities has downgraded the FTSE 250-listed gold miner from a “neutral” to “sell” recommendation after strong third quarter results caused a share price rally. It has increased its target price on the stock from 115p to 170p, after raising its gold price forecast for the year. HENRY BOOT Numis has initiated [...]
Bottom Line: Cuddly airline doing more to entice flyers November 4, 2013 MICHAEL O’Leary’s new, customer-friendly persona was out in force yesterday when he was asked about his response to his rivals’ ticket prices. “I don’t give a toss… in a warm and cuddly sort of way,” he told reporters. And when asked about whether Ryanair’s profit warning spelled the end of the no-frills experience, he pondered: [...]
Ryanair slumps as it warns of a fall in earnings November 4, 2013 SHARES in Ryanair took a 12.6 per cent dive yesterday after the low-cost airline cut its full-year profit forecast for the second time in as many months. Ryanair boss Michael O’Leary said its move to lower air fares across its routes had contributed to the gloomy profit outlook, but said he was unsure of the [...]
London Report: HSBC lifts FTSE as Ryanair and Weir Group sink November 4, 2013 BRITAIN’S FTSE 100 share index pushed ahead yesterday, as its biggest stock HSBC rose after solid results, outweighing weakness in the airline and engineering sectors following profit warnings. HSBC advanced 2.3 per cent in its biggest one-day rise in four months after quarterly profits rose by a tenth, year-on-year, meeting analyst expectations and reassuring investors [...]
Seven things you wouldn’t hear from any chief executive who isn’t Ryanair boss Michael O’Leary November 4, 2013 “Welcome, ladies and gentlemen, to the new and cuddly Ryanair press conference.” So began Michael O’Leary’s attempt to paint his airline as a consumer-friendly service as he revealed the firm’s disappointing first-half results. Here are some extracts from the notoriously outspoken boss’s press conference this morning: “Our website is inferior, it’s way behind the likes [...]
Ryanair shares tumble after second profit warning November 4, 2013 Ryanair has suffered an 11 per cent fall in its share price after posting its second profit warning in two months, meaning the company's profits will likely fall for the first time in five years. Weak economic conditions in the Eurozone and intense competition from rival low cost airlines have played a large part in [...]