Antitrust body in Ryanair ruling August 27, 2013 Ryanair boss Michael O’Leary is set for disappointment this morning when the Competition Commission tells the airline how much of its near-30 per cent stake in Aer Lingus it must sell off. The CC said in May that the holding “could reduce competition on routes between Great Britain and the Republic of Ireland”. Ryanair has [...]
What the other papers say this morning – 12 August 2013 August 11, 2013 FINANCIAL TIMES Air alliances rule out Heathrow move The world’s biggest airlines have ruled out moving from Heathrow to another UK airport, bolstering the chances of a highly contentious third runway being built at Europe’s busiest hub. All three global airline alliances have said they want to stay, even though some options being considered by [...]
What the other papers say this morning – 1 August 2013 July 31, 2013 FINANCIAL TIMES Spotify burns through cash Spotify, the Swedish digital music service that has been valued at $3bn, doubled its revenues in 2012 but burnt through cash as it attempted to grab a bigger share of the fast-growing market. The company’s results show that its sales surged from €190.4m in 2011 to €434.7m in 2012, [...]
Losses widen at Aer Lingus July 31, 2013 AER LINGUS yesterday said its half-year losses before tax widened 14.2 per cent to €28.2m (£24.7m), on revenues up five per cent at €657.9m. Costs rose 6.9 per cent, which the firm said was partly due to one-off expenses linked to an increase in transatlantic services and the launch of Little Red, Virgin Atlantic’s short-haul [...]
Ryanair boss says hand luggage charges “inevitable” and pushes for new runways at existing airports July 31, 2013 Ryanair chief executive Michael O’Leary has said the introduction of charges for hand luggage on planes is “unlikely in the short term but it’s probably inevitable”. Speaking at a news conference in London, the budget airline boss said it’s likely that companies would see the charges as a new revenue stream to be exploited, but [...]
Brand Index: Welby’s challenge highlights how vulnerable Wonga is July 30, 2013 LAST week, in an interview with Total Politics magazine, the Archbishop of Canterbury Justin Welby said that he has told Wonga CEO Errol Damelin he wants to compete the payday loans company out of existence by strengthening credit unions. Mentions of Wonga were seen by 45 per cent of UK Twitter users on Thursday and [...]
US drugmaker Perrigo buys Elan for $8.6bn July 29, 2013 IRISH biotech firm Elan yesterday accepted an $8.6bn takeover offer from US drug maker Perrigo, just weeks after batting off a hostile approach from Royalty Pharma. Perrigo will pay $6.25 per share in cash plus $10.25 per share in stock for Elan, in a deal that will see the Michigan firm almost halve its [...]
High fuel costs and early Easter send Ryanair profit plummeting July 29, 2013 STRIKES in France, soaring fuel costs and an earlier Easter have knocked quarterly profits at budget airline Ryanair. The Irish firm yesterday posted a 21 per cent fall in profits after tax to €78m (£67.4m) for the three months to the end of June. Revenues rose five per cent to €1.34bn, while fuel costs rose [...]
Ryanair first-quarter profits fall 21pc July 29, 2013 RYANAIR today posted a 21 per cent fall in first-quarter profits to €78m (£67.3m), due to higher fuel costs and the timing of Easter. The budget airline said that average fares fell four per cent during the period, but revenue per passenger grew one per cent. Ryanair expects yields to rise in the second quarter [...]
Ryanair profits fall by over 20 per cent in first quarter but still expects to hit targets July 29, 2013 The low-cost airline Ryanair has announced that its post-tax profits fell by 21 per cent in the first quarter to €78m (£67m) (release). Passenger numbers grew by three per cent to 23.2m in the same period with revenue up five per cent to €1,342m (£1158m). Ryanair's CEO, Michael O'Leary, said: As ever, our outlook remains [...]