Stobart shares spiral on widening losses as boardroom battle takes its toll October 24, 2018 Southend Airport owner Stobart Group saw its losses increase by almost half in the six months to August, weighed down by ongoing legal disputes and an investigation into reports of bullying. Shares in Stobart fell over nine per cent as markets opened this morning. The figures Revenues at Stobart across its aviation, energy plants and civil [...]
Ryanair, did you learn nothing from United Airlines? October 22, 2018 I HAVE OFTEN said that silence is golden. There is an exception to this rule, and that’s when you are dealing with a reputational crisis. When it comes to unforeseen blow-ups, you need to prepare in advance so that, if a crisis hits, you – and not the media – are in control. Decisive action [...]
Ryanair profits slide as strikes, cheaper fares and higher fuel costs impact bottom line October 22, 2018 Ryanair saw half-year profits decline this morning to round off a troubled few days at the budget airline. The results Cheaper fares, higher fuel costs and strikes all hit Ryanair’s bottom line, taking post-tax profits down seven per cent year-on-year to €1.2bn (£1.1bn) for its crucial April to September trading period. Read more: Photo of Ryanair crew [...]
Ryanair signs recognition agreements with pilot unions after summer of strikes October 19, 2018 Ryanair has agreed to recognise a group of pilot unions after a summer of industrial action across Europe. The budget airline has signed a collective labour agreement with the Portuguese Civil Aviation Union (Spac) today, which will to allow negotiations to begin over seniority, which gives preference to the longest serving pilots in requests for annual leave and promotions, and [...]
Photo of Ryanair crew sleeping on airport floor was staged, airline says October 18, 2018 A photograph of Ryanair crew sleeping on an airport floor was staged, footage from the airline showed today. Staff at the low-cost carrier had released a photograph showing them lying on the floor of an airport staff lounge. La imagen del aeropuerto de Málaga ha sido una escenificación y protesta del trato que Ryanair da [...]
Ryanair boss warns planes could be grounded for up to three weeks in event of hard Brexit October 17, 2018 Ryanair boss Michael O'Leary has said a hard Brexit could ground planes for up to three weeks as the prime minister heads to Brussels for a crunch meeting with EU leaders to break the impasse in the negotiations. O'Leary said that while the grounding of planes for a "week, two weeks, three weeks" would be "painful", [...]
Flybe shares crash as it issues profit warning on rising losses October 17, 2018 Shares in budget airline Flybe plummeted this morning, after the UK company issued a full-year profit warning in a trading update ahead of its results for the first six months of 2018. Flybe's share price plunged a staggering 37.8 per cent as markets opened this morning, wiping over £20m off its market capitalisation. The airline said higher [...]
Theresa May’s new merger powers would be a hostile takeover by the state October 16, 2018 Back in July 2016, Theresa May launched her campaign for leadership of the Conservative party by promising radical action on foreign takeovers of British businesses. In the wake of Kraft’s takeover of Cadbury and Pfizer’s failed bid for AstraZeneca, May promised to defend workers and local communities from transient shareholders who, she said, were more [...]
Ryanair boss ‘hopeful and optimistic’ about ending strike action by pilots and cabin crew October 9, 2018 Ryanair chief executive Michael O'Leary has said he is "hopeful and optimistic" that the airline will not be damaged further by strikes with its pilots and cabin crew this year. O'Leary, who has previously said the airline will put up with strikes to defend its low-cost business model, said: "I am hopeful and optimistic that we [...]
EU rejects aviation regulator’s push for no-deal Brexit transition talks October 5, 2018 The EU's aviation regulator rejected British calls for a joint no-deal Brexit transition plan in July, new letters reveal. In June, the UK's Civil Aviation Authority (CAA) chief executive Richard Moriarty wrote to his EU counterpart Patrick Ky to say it would be in "both their interests" to agree to a joint transition plan. "These [...]