IAG boss stops eyeing Europe for acquisitions September 17, 2013 EUROPEAN airlines will have to cut costs at existing short-haul businesses to compete with budget airlines or struggle to stay aloft, IAG boss Willie Walsh said yesterday, adding that his firm is not looking for further acquisitions in Europe. So-called legacy carriers such as IAG, Lufthansa and Air France-KLM are cutting jobs, renegotiating staff contracts [...]
EasyJet back on the ascent as its traffic over the summer bounces September 5, 2013 SHARES in budget airline EasyJet bounced yesterday as it posted a 3.9 per cent jump in passengers during August to 6.1m. The budget carrier, whose shares had been slammed by a shock profit warning from rival Ryanair on Wednesday, said its planes were 1.1 percentage points more full compared to a year ago. In the [...]
London Report: Intertek caution drags FTSE to a sub-6,700 close November 19, 2013 B RITAIN’S top share index slipped yesterday, hurt by testing firm Intertek on worries over a slowdown in its business, though analysts were confident that technical support would cap any weakness in the broader market. Intertek, a company specialising in safety and quality tests, fell 2.5 per cent after saying headwinds experienced in the first [...]
Ryanair lines up concession February 5, 2013 RYANAIR has agreed the possibility of transferring some of its routes and aircraft to smaller operator Flybe in order to win the European Commission’s approval for its Aer Lingus bid. Flybe confirmed yesterday that Ryanair had agreed in principle to create a new company, into which business assets and cash of €100m (£86.2m) would be [...]
Europe blocks Ryanair’s bid February 12, 2013 RYANAIR’S latest attempt to take over Irish rival Aer Lingus has been scuppered by the European Commission. The budget airline said it will appeal after the Commission indicated during a “state of play” meeting that it will prohibit the €694m (£597m) takeover. Ryanair had argued that its offer to give 43 short-haul routes and €100m [...]
London Report: Blue chips end higher despite airline plunge September 4, 2013 THE FTSE top 100 steadied yesterday, paring early losses after a stronger open in the United States but dogged by an airline sector weakened by a profit warning from budget carrier Ryanair. The FTSE 100, which had been 0.6 per cent lower at midday, retraced its losses entirely in the first hour of trading on [...]
Ryanair loses compensation case January 31, 2013 Irish budget carrier Ryanair has been ordered by Europe’s top court to compensate passengers delayed by a volcanic ash cloud in Iceland in 2010, in a ruling that could expose other airlines to similar claims from disgruntled travellers. The court said EU rules require airlines to compensate travellers for delays caused by unforeseen events. Ryanair [...]
Ryanair lifts profit forecast January 28, 2013 Low cost carrier Ryanair this morning hiked its full-year profit guidance on the back of strong growth in the third quarter. The airline now expects full-year profits to come in at around €540m (£461m), a seven per cent increase on last year. Previous guidance was set at between €490m and €520m. Over the third quarter, [...]
Norwegian to offer low-price flights to the US October 17, 2013 NORWEGIAN has become the latest airline to attempt a low-cost service to America, in a coup for Gatwick Airport. The airline will sell flights to New York next summer for just £149 one-way – an offer made possible by the advent of more efficient planes like the new Dreamliner, chief executive Bjorn Kjos said yesterday. [...]
Ryanair expects drag on growth January 22, 2013 Low-cost airline Ryanair expects passenger growth to slow in 2013 as it cuts back on short-distance flights in some markets due to higher airport fees, chief executive Michael O’Leary said yesterday. “I think the growth will be slower this year,” he told Reuters, predicting passenger numbers would increase three to four per cent to up [...]