Ryanair finance head Howard Millar is second deputy chief to depart this year June 30, 2014 Ryanair’s finance chief Howard Millar is leaving the airline after 23 years, becoming the second deputy chief executive to quit the low-cost carrier in a year. Millar, 53, is leaving in December “to pursue other career activities”, a statement from Ryanair said yesterday. However he is not cutting all ties, as he will become a [...]
British Airways owner IAG makes third Aer Lingus takeover offer January 24, 2015 International Consolidated Airlines (IAG) has increased its takeover offer for Aer Lingus. The owner of British Airways and Spain’s Iberia has submitted a revised proposal to the Aer Lingus board that values the Irish carrier at €1.34bn (£971m) according to Sky News. IAG has already had two cash takeover bids of €2.30 and [...]
Cheltenham Festival 2015: When the City has a break to enjoy a flutter March 10, 2015 A record-breaking crowd of more than 63,000 people descended on Cheltenham yesterday for the opening of the famous horse racing festival. Several notable individuals from the City made the two-hour journey, including renowned founder of Collins Stewart Andy Stewart and ex-Barclays banker Rich Ricci, both of whom have horses racing throughout the week. Other [...]
Slashed fares hit Ryanair profits May 19, 2014 Ryanair’s reported net income of €523m (£426m) for the year ending in March. That’s a eight per cent drop from the €569m it made a year earlier. Fares fell four per cent, as the budget airline reacted to a tougher environment of a weaker pound and higher fuel costs. As a result, it saw its [...]
Google’s mobile friendly algorithm change: Why businesses could rue “mobilegeddon” April 20, 2015 Google is about to embark on a major algorithm change which could leave businesses who have yet to adapt to mobile see their customer base shrink overnight. Billed as “mobilegeddon” in some quarters, the search engine will tomorrow start to roll out what is expected to be the biggest change to its search results in [...]
Ryanair makes its bond debut by raising €850m for planes June 10, 2014 BUDGET airline Ryanair issued its first ever bonds yesterday, raising €850m (£687m) to help finance its order for 180 new Boeing planes. Ryanair said the seven-year, euro-denominated bonds were eight times oversubscribed and attracted investors from across Europe. The firm, whose shares are listed in London and Ireland, claims its BBB+ debt rating makes it [...]
McCoy win ensures success at his final Cheltenham Festival March 12, 2015 RETIRING jockey AP McCoy ensured his final visit to the Cheltenham Festival would not be forlorn after plotting a brave front-running victory on Uxizandre in the Ryanair Chase yesterday. The Alan King-trained seven-year-old, an 18/1 shot, led from the start for 19-times champion jockey McCoy, finishing ahead of Ma Filleule in second and 5-2 favourite [...]
Germanwings flight 4U9525 plane crash poses more airline safety questions March 25, 2015 The crash of Germanwings flight 9525 and the loss of 150 passengers and crew on Tuesday has put aviation safety under renewed scrutiny. Despite robust figures showing rising safety standards in the aviation industry – 2014 was the safest year on record so far, according to the International Air Transport Association – such tragedies spark [...]
Ryanair raises hopes after its profits decline May 19, 2014 RELIEVED Ryanair investors yesterday took the budget airline’s shares 10.6 per cent higher after the firm’s first fall in profits for five years was less steep than expected. The Irish airline said net profits fell eight per cent in the year to the end of March to €523m (£426m), slightly above its own prediction of [...]
Brent crude oil falls below $50 January 7, 2015 The price of Brent crude oil has dipped below $50-a-barrel mark for the first time in five and a half years, marking a symbolic moment for oil. The black stuff fell another two per cent this morning to $49.99 a barrel. Yesterday Brent crude dipped to $51.12, following a six per cent fall on Monday, [...]