BLANK’S CHELSEA APPEARANCE SETS CITY TONGUES WAGGING ON HIS HEIR May 18, 2009 ANY idea that the downturn would affect corporate hospitality at the Chelsea Flower Show, traditionally one of the biggest, most important corporate schmooze-fests of the year, was smashed to smithereens at last night’s gala preview opening. Chelsea veterans including Marks & Spencer boss Sir Stuart Rose, WPP chief executive Sir Martin Sorrell, ICAP billionaire Michael [...]
The firms the credit crunch has favoured August 11, 2008 The news about the worsening economy seems relentless and yet it is not all bad. As the credit crunch celebrates its first birthday, it’s clear that some companies are benefiting from a trend towards trading down. Consumers might be feeling the the pinch but budget options are becoming more appealing and companies such as Dominos, [...]
Passengers desert BA for cheap rivals August 7, 2008 British Airways carried 94,000 fewer passengers in July than in the same month last year. The airline blamed high oil prices, subsequent ticket price increases, and the worsening economic environment. The drop, during what is traditionally peak-season, came from non-premium ticket sales. Passenger load factor – the measurement of how full flights are – dropped [...]
Budget airlines have become a part of modern life, for better or worse August 1, 2008 Rising oil prices mean that cheap flights are under threat. But is that a good or a bad thing? Such arcane things as the price of oil were until recently beyond the ken of most ordinary folk. But the workings of massive Kazakh exploration companies and the politics of laying pipelines across Uzbekistan are now [...]
Ryanair cuts ticket prices while earnings plummet July 29, 2008 Shares in low cost airline Ryanair sank 22 per cent yesterday after the company warned it may make a €60m (£47.4m) loss this year, as high oil prices eat into margins. It said it had made profit after tax in the first quarter of €21m- a drop of 85 per cent- but the carrier yesterday [...]
High oil price leads Ryanair to cut flights July 18, 2008 Europe’s largest airline Ryanair said yesterday it will cut flights at Stansted by 14 per cent, or 250 flights, this winter because of soaring fuel costs and high airport charges. The Irish carrier’s chief executive Michael O’Leary said the move will see it carry 900,000 fewer passengers and trim its Stansted fleet to 28 planes [...]
Farnborough struck by industry gloom July 15, 2008 Abu Dhabi’s Etihad Airways was the talk of the Farnborough Airshow yesterday after it unveiled a $20bn (£10bn) order for 100 planes – but it was a quiet debut for Europe’s biggest industry show. Etihad CEO James Hogan said the airline had placed orders for 35 787 Dreamliners and 10 777s from America’s Boeing for [...]
Ryanair gambling on giving away its seats November 3, 2005 Fancy a flutter when you fly? Ryanair chief Michael O’Leary says the no-frills carrier is hoping to sign a partnership with a gaming company to introduce inflight gambling in a move which could mean passengers travel for free on Europe’s largest carrier. O’Leary said his bold plan to introduce an airborne Las Vegas could see [...]
BA: Ryanair passengers ‘like freight’ October 20, 2005 British Airways boss Willie Walsh has shocked the airline industry with an attack on Ryanair boss Michael O’Leary. Walsh slammed the low-cost airline claiming that it treats its passengers worse than BA treats freight. In an interview with CityA.M. Walsh said: “I think we actually treat our freight better than he treats his passengers.” The [...]