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 [...]
Ryanair set to post better profits but ash cloud drags May 31, 2010 BUDGET airline Ryanair is expected to report net profits of up to €315m (£266.2m) today when it delivers its full year results. Analysts are forecasting that the Irish-based carrier will deliver profits of more than €310m for the year ending 31 March, which will be roughly in line with the company’s expectations. Ryanair upped its [...]
Medici palace that became Europe’s most splendid hotel May 23, 2010 FOR a couple of London girls, fresh off a Ryanair flight and a battle with striking trains and lengthy bus queues, entering the Four Seasons Florence struck us dumb. We’d walked into a world of Italian royalty, papal splendour and elegance of a type you just can’t find outside of the country of Dante, Leonardo, [...]
Ryanair to appeal fine for mistreating passengers May 18, 2010 RYANAIR is to challenge a hefty fine handed down by the Italian Civil Aviation Authority (ENAC) for the alleged mistreatment of passengers during the flight ban last month. Over the weekend, ENAC fined Ryanair €3m (£2.57m) for allegedly breaching European Union code EU261, which requires airlines to reimburse reasonable receipted expenses of disrupted passengers. ENAC [...]
BEST OF THE BROKERS May 17, 2010 HARDY Execution Noble maintains a “buy” recommendation for Hardy given the current rating and high quality underwriting on its portfolio in the past. Execution said the group expects premium volume in 2010 to increase to £300m with further growth expected in 2011 as expansion continues through access to new geographies. IBERIA Royal Bank of Scotland [...]