Budget airline Wizz aims for London lift off May 22, 2014 HUNGARIAN budget airline Wizz Air is preparing to list on the London Stock Exchange as it looks to raise €200m (£162m) and grow its business in central and eastern Europe. The no-frills airline, which provides travel to destinations across Europe, expects to launch its initial public offering next month and will be in direct competition [...]
Wizz Air grounds London float June 16, 2014 HUNGARIAN low cost airline Wizz Air yesterday ditched plans to float in London due to turbulence in the airline industry, the second company to this year to shelve a market listing. The firm blamed “market volatility” in the airline sector for pulling the initial public offering of shares, which would have raised €200m (£160m) to [...]
Antitrust body in Ryanair ruling August 27, 2013 Ryanair boss Michael O’Leary is set for disappointment this morning when the Competition Commission tells the airline how much of its near-30 per cent stake in Aer Lingus it must sell off. The CC said in May that the holding “could reduce competition on routes between Great Britain and the Republic of Ireland”. Ryanair has [...]
City & Gild: Does low cost have to equal low expectations? March 28, 2014 Easyjet has announced that it is cutting its expected pre-tax losses, with CEO Carolyn McCall attributing its success to “progress against strategic priorities”. One of those key priorities is allocated seating, introduced by the budget airline in November 2012 and very well-received by its customers. I have the frequent displeasure of flying Ryanair and have [...]
Brand Index: BA’s heritage helps it bounce back June 10, 2014 TODAY I’m returning to an issue that comes around like a baggage carousel every summer: the ongoing battle for the hearts and minds of British air travellers. I never tire of looking at this as it has so many angles – crisis recovery and the strength of a loved brand such as British Airways, the [...]
Analyst Views: Are you as disappointed as the market in Ryanair? September 4, 2013 STEPHEN FURLONG DAVY “Putting today’s announcement into perspective, the airline is still in line for a record second quarter and full year…. We continue to see Ryanair as one of the industry-leading players with a renewed growth story, higher and rising returns over the medium term and material free-cash generation. DONAL O’NEILL GOODBODY “This [...]
French court slaps €10m penalty on Ryanair in worker base case October 2, 2013 RYANAIR yesterday vowed to appeal after a French court imposed penalties totalling almost €10m (£8m) on the airline for breaching labour laws. The budget carrier was fined €200,000 and ordered to pay €9m to cover three years of backdated taxes and pension contributions for staff based in Marseille but employed on Irish contracts. Ryanair closed [...]
Italy slaps fines on airlines over travel insurance February 17, 2014 RYANAIR and EasyJet have been fined more than €1m for not being clear enough about the travel insurance they sell to Italian customers alongside flight bookings. Italy’s competition authority has imposed an €850,000 (£697,000) penalty on Ryanair and a €200,000 fine for EasyJet for “unfair commercial practices”. The low-cost airlines failed to tell customers about [...]
Ryanair to expand at Stansted as airport agrees to lower its fees September 16, 2013 RYANAIR has called a truce with the new owner of Stansted after persuading the airport to cut its fees, in a deal the budget airline claims will create 7,000 jobs. The Irish carrier has agreed a 10-year growth deal with Manchester Airports Group, which bought Stansted in January, that will see its traffic through the [...]
Ryanair to appeal against Competition Commission ruling August 28, 2013 The chief executive of budget airliner Ryanair has said it will appeal against today's report from the UK Competition Commission’s (UKCC) saying that its minority shareholding in Aer Lingus has led to a "substantial lessening of competition" between the airlines on routes between the UK and Ireland. The UKCC said this morning that Ryanair will [...]