IAG boss stops eyeing Europe for acquisitions September 17, 2013 EUROPEAN airlines will have to cut costs at existing short-haul businesses to compete with budget airlines or struggle to stay aloft, IAG boss Willie Walsh said yesterday, adding that his firm is not looking for further acquisitions in Europe. So-called legacy carriers such as IAG, Lufthansa and Air France-KLM are cutting jobs, renegotiating staff contracts [...]
Ryanair to expand at Stansted as airport agrees to lower its fees September 16, 2013 RYANAIR has called a truce with the new owner of Stansted after persuading the airport to cut its fees, in a deal the budget airline claims will create 7,000 jobs. The Irish carrier has agreed a 10-year growth deal with Manchester Airports Group, which bought Stansted in January, that will see its traffic through the [...]
EasyJet back on the ascent as its traffic over the summer bounces September 5, 2013 SHARES in budget airline EasyJet bounced yesterday as it posted a 3.9 per cent jump in passengers during August to 6.1m. The budget carrier, whose shares had been slammed by a shock profit warning from rival Ryanair on Wednesday, said its planes were 1.1 percentage points more full compared to a year ago. In the [...]
London Report: Banks lead FTSE to highest close in three weeks September 5, 2013 BRITAIN’S top share index marked a three-week closing high yesterday as Lloyds led banks higher in the sector’s strongest session in two months. Lloyds jumped 2.9 per cent after both Bernstein and Morgan Stanley gave a target share price of 100p for the bank, currently trading at 73p, as the British government prepares for its [...]
Letters to the editor – 06/09 – Defending Wonga, Green Deal, Best of Twitter September 5, 2013 Defending Wonga [Re: Wonga defends reputation as profits rocket, yesterday] Payday lenders mean different things to different people. For many on low incomes, they provide a cash bridge until pay day. For others, they are viewed as taking advantage of people in financial need. Those in the latter group are unlikely to have a need [...]
Europe fare war dents Ryanair’s profit forecasts September 4, 2013 AIRLINE shares took a nosedive yesterday after Ryanair, the biggest carrier in Europe, warned that it might miss profit targets for the year. The budget airline said a brewing price war in the UK and several other countries had dented its yields in recent weeks, as rivals try to tempt hard-up Europeans into taking more [...]
Analyst Views: Are you as disappointed as the market in Ryanair? September 4, 2013 STEPHEN FURLONG DAVY “Putting today’s announcement into perspective, the airline is still in line for a record second quarter and full year…. We continue to see Ryanair as one of the industry-leading players with a renewed growth story, higher and rising returns over the medium term and material free-cash generation. DONAL O’NEILL GOODBODY “This [...]
London Report: Blue chips end higher despite airline plunge September 4, 2013 THE FTSE top 100 steadied yesterday, paring early losses after a stronger open in the United States but dogged by an airline sector weakened by a profit warning from budget carrier Ryanair. The FTSE 100, which had been 0.6 per cent lower at midday, retraced its losses entirely in the first hour of trading on [...]
Before the open – 04/09 September 4, 2013 London's leading index, the FTSE 100, is expected to open flat this morning. #FTSE called flat to slightly up ahead of open, stocks to watch include Ryanair, Ashtead Group & Hargreaves Landsown. — Sales Traders CMC UK (@SalesTradersCMC) September 4, 2013 European services data is expected to show that sector order books have returned to [...]
Ryanair issues profit warning as weakness in Autumn season appears September 4, 2013 Budget airline Ryanair has issued a profit warning, announcing that it expects full year results to show profit at the lower end of the expected range of €570m to €600m (£482m to £508m). Full year traffic is also expected to come in lower at 81 million from 81.5 million previous. CEO Michael O'Leary said that [...]