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. [...]
BA passenger figures show improvement August 5, 2009 BELEAGUERED British Airways (BA) said yesterday it carried one per cent more passengers in July than in the same period a year before, and added that further gains were expected over the rest of the summer. The news comes after the airline reported its first ever first quarter loss last week, and said it saw [...]
Ryanair shirks responsibility August 2, 2009 Ryanair passed the buck back to its customers yesterday, after a shambolic scene at Stansted airport left passengers stranded at the airport when the budget airline failed to open enough check-in desks. Only 11 “bag drops” were opened on one of the busiest holiday days of the year, leaving customers watching their flights depart as [...]
EasyJet board bows to Stelios over growth July 29, 2009 BUDGET airline easyJet predicted a full-year pre-tax profit of £25-50m yesterday, despite the massive industry slump, but bowed to pressure from biggest shareholder Sir Stelios Haji-Ioannou and halved its future growth rate target to 7.5 per cent. Stelios had rowed with the company’s board late last year over his worries about the expansion plans of [...]
Ryanair pledges to continue cutting fares at the expense of yearly profits July 27, 2009 BUDGET airline Ryanair saw its shares slump eight per cent yesterday after it told the market it would continue to slash fares to win passengers during the downturn. The Irish carrier also said its net profits in the first quarter rose sixfold to €136.5m (£100m), thanks to falling oil costs, and that it expected passenger [...]