Ryanair chiefs get cold-shoulder September 27, 2009 Three Ryanair directors – Kyran McLaughlin, Michael Horgan and Paolo Pietrogrande – received almost double the level of dissenting votes usually seen in director elections for the Irish Stock Exchange’s top companies. Proxy voting company Manifest, which advises institutional shareholders on corporate governance issues, has already dubbed the airline ‘‘one of Europe’s most shareholder unfriendly [...]
Ryanair says rival needs a big shake up September 24, 2009 BUDGET carrier Ryanair is willing to “invest more money” into Aer Lingus, but is unlikely to make a third bid for its rival, chief executive Michael O’Leary said yesterday. The flamboyant boss, whose company is a 29 per cent shareholder in Aer Lingus, said the Irish airline will need major reorganisation. “They will come to [...]
C&W launches deal with Ryanair September 22, 2009 Cable & Wireless announced yesterday that it has signed a five-year, €15m (£13.5m) contract to manage budget airline Ryanair’s European telecoms network, which covers 180 airports, as well as bases, data centres and corporate offices in 26 countries. Ryanair’s self-service check-in kiosks will also run on the C&W network.
Budget carrier SkyEurope falls into bankruptcy September 1, 2009 SLOVAKIAN budget airline SkyEurope has filed for bankruptcy and suspended all flights, the firm said yesterday, after collapsing under the pressure of dwindling revenues in the economic slump. SkyEurope, which was launched in 2001 and served mainly continental Europe, had obtained a three-month creditor protection in Slovakia in June and was trying to restructure and [...]
THE TIPSTER GERMAN DAX TIPPED FOR A FALLBACK August 31, 2009 GERMANY’S manufacturing sector might have been hit by the global recession but that didn’t stop Western Europe’s largest economy posting a modest expansion in the second quarter. However, analysts remain wary of calling an end to the recession and warn that there could be a pullback in the autumn. There are now signs that the [...]
CITY VIEWS: HAVE YOU OPTED FOR A “STAYCATION” TO WEATHER THE DOWNTURN? August 20, 2009 CLIFF CUNNINGHAM POLAR LAKE“No, I went to Portugal. I’m not particularly fazed by the credit crunch – I got a good deal and it was just a little break. Going on a holiday abroad is an expense, but travel is cheaper than it has ever been thanks to good old Ryanair and the like.” NEVILLE [...]
Aer Lingus set to streamline August 19, 2009 Irish flag carrier Aer Lingus is bracing itself for a cost-cutting drive under incoming chief executive Christoph Mueller, the company warned yesterday, as it seeks to streamline in anticipation of a third hostile takeover bid from budget rival Ryanair. Details of the cost cutting will be outlined in the carrier’s half-year results on 27 August. [...]
Ryanair slashes Manchester routes August 17, 2009 BUDGET airline Ryanair yesterday said it would cut nine of the 10 routes it flies from Manchester and blamed the airport for refusing to cuts its charges. The low-cost carrier said nine routes would be switched or changed as of 1 October, meaning 44 weekly flights will be cut along with 600 local jobs.Most flights [...]
Airlines still soaring despite bad news and cost-cutting August 10, 2009 ON THE face of it, 2009 was never going to be a good year for airlines. The cost of oil – the main source of fuel for aeroplanes – has been steadily rising since February and is now nearing $75 per barrel. The recession meant that people were more inclined to stay at home rather [...]
Easyjet rides financial storm August 6, 2009 BUDGET airline easyJet, the orange-branded carrier founded by Sir Stelios Haji-Ioannou, yesterday said its aircraft were fuller and that it saw an increase in its airline traffic last month, as demand for bargain flights holds up despite the slump. The company flew 4.66m passengers in July, up from 4.47m in the same period last year. [...]