INSURERS STRAP IN FOR BLUNT’S MILE-HIGH RECORD-BREAKING GIG June 30, 2010 EVER wanted to watch James Blunt sing his heart out – live – at 42,000 feet? No, neither have we, but let’s not diminish Royal Sun Alliance’s (RSA) achievement in breaking the Guinness World Record for the world’s highest altitude live music show. The insurance group has kicked off its 300th anniversary celebrations with gusto [...]
Ryanair to cut back winter capacity by 16pc in the UK June 29, 2010 RYANAIR is expecting to cut its UK winter capacity by 16 per cent, marking the largest cut it has made to its winter traffic. The Irish low budget airline blamed the government’s air passenger duty (APD) for damaging UK tourism and forcing it to make the cut. Chief executive Michael O’Leary said yesterday the airline [...]
TRAVEL NOTES June 20, 2010 Valencia restaurant week: 5-11 July Like tapas but want to explore the best of Spanish food further? Combine a week of serious food discovery with a sunny Spanish holiday in Valencia, one of southern Spain’s most beautiful cities, which will be hosting its third restaurant week from 5 July. On offer will be delicious local [...]
Global airline equities are cleared for take-off June 7, 2010 THE global airline industry is set to take off this year, provided the economic recovery holds up, according to the International Air Transport Association (IATA), an association of 230 airlines. IATA has revised its 2010 profit forecast for the industry up to $2.5bn, having formerly predicted a $2.8bn loss. It says that low oil prices, [...]
Cabin crew strike costs BA £7m a day June 3, 2010 BRITISH AIRWAYS (BA) has lost roughly £98m during the last fortnight as a result of the cabin crew strike, which has seen the airline’s passenger capacity fall six per cent. BA flew 392,000 less customers last month – a 14.2 per cent drop from last year as a result of the strike. The airline faced [...]
Ryanair pays out €500m as earnings leap June 1, 2010 RYANAIR is to pay out a €500m (£417m) dividend to shareholders after the budget airline saw profits for the year soar by 204 per cent. Subject to approval, the Ireland- based airline said yesterday that it would be in a position to make the €500m return to shareholders through either share buy-backs or a one-off [...]
ANALYST VIEWS: WHAT DO YOU THINK OF RYANAIR’S RESULTS? June 1, 2010 DOUGLAS MCNEILL | CHARLES STANLEY “The business model for the airline seems to be in good shape and Ryanair has strengthened its top line with the sale of lower fares. The fact that the airline will pay out a dividend is good news because dividend payments for airlines are as rare as leprechauns.” MATT BROWN [...]
Alan Ruddock, writer, editor, dies suddenly June 1, 2010 ALAN Ruddock, one of City A.M’s columnists at the time of the paper’s launch, died suddenly at the weekend. His death came shortly after he played cricket in his native Ireland. Ruddock, 49, held a number of executive roles in the UK press, including editor of the Scotsman at the time of devolution. He was [...]
MICHAEL O’LEARY STEPS UP ATTACK ON ‘PERMA-TANNED’ UNION LEADER June 1, 2010 RYANAIR’S Michael O’Leary isn’t known as a man his rivals could turn to in a jam, but it appears leopards really can change their spots. Just a few weeks ago, O’Leary lashed out at the Unite union, which is representing British Airways cabin crew in a series of damaging strikes, labelling them a “bunch of [...]
Ryanair to pay dividend after £289m profit June 1, 2010 RYANAIR has reported pre-tax profits of €341m (£289m) for the year to March – and announced a one-off dividend to shareholders. Passenger numbers were up 14 per cent on last year while revenue jumped two per cent. investors will share a dividend pot of €500m on the strength of the results. The profit represents an [...]