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Old February 29th, 2008, 06:39 PM   #1481
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Ryanair warns Cyprus: You need us to come here… we don’t need to be here
By Jean Christou

HIGH airport charges are stopping low-cost carrier Ryanair from flying to Cyprus and under current conditions the airline will not take the plunge, it said yesterday.

“We’re potentially interested in Cyprus but we have to be able to make money. We are a business,” Ryanair’s Director of Route Development Bernard Berger told the Cyprus Mail on the sidelines of an hoteliers` conference.

“You need us to come here. We don’t need to come to Cyprus, we are doing very well thank you.”

Berger said the way things stand at the moment, it would not be entering the Cyprus market any time soon, at least until the government changed its stance on airport passenger fees.

With an average ticket price of €44 compared to closest competitor easyJet’s €64, Ryanair is baulking at the current €30 fee per departing passenger from Cyprus.

“This doesn’t work for us. Why on an average price of €44 would you want to pay that? No one will,” said Berger.

He said ten or twenty euros less on airport fees could make a difference, especially for a family.

In his address titled ‘Europe soars, Cyprus slumps’ to the conference, organised by the Cyprus Hotel Association (PASYXE), Berger accused the government of ‘bean counting’.

He said the state should sacrifice its 33 per cent share of the airport revenue pie for the greater good of the island’s ailing tourism industry.

Berger said he had not done the math but was sure the short-term loss in revenue from the airport would be compensated for by the increase in tourism income over the medium to long term.

“The airport is not a cash cow. It’s completely the wrong approach and leads to future loss in market share,” he said.

“The cost of not doing it in the medium to long term is catastrophic.”

Berger said Latvia had taken the decision to lower it rates, and since then Ryanair had brought in between one and four million passengers through Riga airport.

“You guys have been sitting around for 20 years. Take the bull by the horns and run with it instead of sitting in a glass box and wondering what’s going on elsewhere,” he added.

Malta, like Cyprus, had also been struggling in recent years, Berger said. But since the advent of Ryanair, their tourist arrivals had jumped almost 11 per cent in just a year.

If a deal can be struck with Cyprus, Berger said Ryanair could initially bring in 60,000 to 70,000 new tourists a year and after a few years this could increase to as much as 750,000 a year.

The beauty of Ryanair, he said was its operation from airports other than country capitals.

“Ryanair delves into routes no other airlines go near,” Berger said, adding that the airline also had the brand name to ensure success.

A possible plan for Larnaca would include flights to and from Stockholm, Milan, Pisa, Marseille, Barcelona and Dusseldorf.

If that went well, Berger said Cyprus could become a Ryanair base and carry out low-cost flights to Israel and the Middle East.

“Unfortunately you are losing out on the moment. We do not believe airports should charge what they like,” Berger said.

“Do they want to suffer a slow death? The country has to look at itself and needs to do so urgently.”

Commenting on the distance, since low-cost carriers usually aim for routes three hours or less, Berger acknowledged it was a problem because Cyprus was a four-hour flight.

“Four hours is a long way. Short and long haul flights are doing well. You are medium haul and falling into the cracks,” he said.
The current cost of flights didn’t help, he said, citing €268 as the average cost of a British Airways return flight to Cyprus. Berger said he had paid €500 from Amsterdam to Larnaca.

“That’s a lot of money for a four-hour flight and it was nowhere near full,” he said. “A lot of people don’t care where they go. They just want a holiday. It’s four hours but if the price is right, people will come. We can bring in the missing tourists,” he added.

Cyprus Tourism Organisation (CTO) Director General Phoebe Katsouri was however optimistic that Ryanair would be flying to Cyprus under the new plan the organisation has that will offer EU-approved incentives to low-cost carriers.

“Ryanair’s presence here (today) is attesting to the fact they are interested,” Katrousi told the Mail.

“There are a lot of constraints and we are trying to find a workable solution,” she added referring mainly to the airport charges.

“I’m sure we will find a way to make the most of this interest. We are fully aware of the potential and uniqueness of the company,” she said.

Katsouri urged the airports to cooperate. “It has to be a partnership,” she said.

Commenting, PASYXE chairman Haris Loizides said Ryanair’s potentiality had the possibility to “contribute decisively to the recovery of our tourism”.

Copyright © Cyprus Mail 2008
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Old March 7th, 2008, 01:02 PM   #1482
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Quote:
Originally Posted by Langur View Post
Rolling 12 month passenger totals to January 2008:
EasyJet = 38,422,844
Ryanair = 49,580,000

Percentage increase in passengers since January 2007:
EasyJet = 13.2%
Ryanair = 17%

Load factor (ie percentage bums on seats) in January 2008:
EasyJet = 83.1%
Ryanair = 82%
Rolling 12 month passenger totals to February 2008:
EasyJet = 39,016,836
Ryanair = 50,210,000

Percentage increase in passengers since February 2007:
EasyJet = 14.1%
Ryanair = 20%

Load factor (ie percentage bums on seats) in February 2008:
EasyJet = 83.3%
Ryanair = 81%


Ryanair sails through the 50 million mark as EasyJet approaches 40 million. Once past 100 million their combined total will close on Southwest.
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Old March 9th, 2008, 04:49 PM   #1483
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is it possible to change the title? they're not the worlds fastest growing airlines
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Old March 10th, 2008, 02:12 PM   #1484
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^ Which airline is growing faster in terms of absolute (ie not percentage) growth? In March 2003 Ryanair had carried just 15.74 million over the previous 12 month period. Less than five years later and it has added an additional 35 million pax pa. EasyJet has grown from 11.4 million paz pa in 2002 to almost 40 million now. That's growth of nearly 30 million too.
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Old March 12th, 2008, 06:54 AM   #1485
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EU to investigate Slovak airport discounts to Ryanair
11 March 2008

BRUSSELS, Belgium (AP) - The European Commission said Tuesday they are investigating if Ryanair Holdings PLC gets a cut-price deal on airport charges from Slovakia's Bratislava airport that is unfair to other airlines.

It said its investigation into a possible illegal state subsidy was triggered by a complaint alleging the airport gives Ryanair huge discounts on airport charges for opening new routes and maintaining existing ones.

The EU warned that the rebates would not be legal if Ryanair was profiting from them in the long-term -- and that it could demand Ryanair pay the full cost of the charges.

Ryanair said it believed the "spurious" complaint had come from either Austrian Airlines or a Vienna airport trying to block rival services from Bratislava -- which is 60 kilometers (37 miles) from the Austrian capital.

Bratislava airport has so far refused to give EU regulators a copy of its agreement with Ryanair.

The EU executive said its information shows the airport struck a deal in December 2005, offering Ryanair a discount of up to 48 percent for new routes and up to 31 percent for others.

Ryanair, Europe's largest low-cost carrier, has helped revolutionize travel across Europe by pioneering cheap flights to regional airports that have sent record numbers of European passengers to the skies on the way to a wider range of destinations.

Eager to pull in new tourist traffic, small airports offer sweeteners to these airlines that have, in some cases, already fallen foul of EU authorities. In 2004, Ryanair was ordered to pay back €4.5 million it got from Belgium's Charleroi airport and change a contract that would allow it recoup up to 90 percent of its costs over 15 years.
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Old March 26th, 2008, 05:55 PM   #1486
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Ryanair to Further Cut-Costs
Ryanair, Europe’s largest low fares airline today confirmed that it was
freezing the pay of its senior management for 2008 as part of a series of cost cutting measures over the coming weeks as the price of oil rises to over $100 a barrel.

From 1st April next Ryanair’s current $68 per barrel fuel hedges, expire.

Ryanair confirmed that it is reviewing all of its major costs including
airports, staffing, fuel and currency exposures and this cost reduction
programme will continue over the coming weeks.

Since Ryanair is the only airline in Europe to guarantee the lowest fares and no fuel surcharges, Ryanair must pay for higher oil by reducing costs elsewhere.

Ryanair’s Michael O’Leary said today:

“Given the enormous increase in our fuel costs, and the likelihood that profits over the coming year may fall, it is appropriate that Ryanair’s senior management lead this cost reduction programme by example, with a pay freeze in 2008.

None of Ryanair’s senior management team (comprising over 30 individuals) will receive any pay increase this year unless the current high oil prices fall, and until we can see some prospect of profits being increased.

We are working intensively on other cost reductions, including focusing on airport costs and handling costs, staff costs and other operating expenses, as we expand Ryanair while lowering fares but absorbing much higher oil costs.


Ryanair will continue to guarantee the lowest fares and no fuel surcharges on every route we operate, This can only be achieved in a period of higher oil prices by reducing costs in every other area.

These cost reductions will mean that Ryanair’s passengers can continue to enjoy Europe’s guaranteed lowest fares, and a guarantee of no fuel surcharges whenever they travel with Ryanair”.
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Old April 24th, 2008, 03:15 PM   #1487
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EasyJet exec predicts cull of budget airlines

TOULOUSE, France, April 23 (Reuters) - Oil prices well above $100 a barrel will drive most of Europe's low-cost airlines out of business, the head of EasyJet's French subsidiary said on Wednesday.

The stark warning of a cull of low-cost airlines came as the British budget airline's shares fell more than 4 percent after another spike higher in oil prices towards $120 a barrel.

"There are currently about 50 low-cost carriers on the European market -- that's absurd," Francois Bacchetta, managing director of EasyJet France, told a news conference.

In a few years' time there will be no more than about three or four of us left in Europe," he said.

He was speaking at a briefing about a new EasyJet service between Toulouse and Lyon.

Traditional network carriers like Air France KLM have slapped extra fuel surcharges on ticket prices in recent months to help compensate for soaring crude oil prices.

"If we ourselves passed on these increases completely we would have to raise ticket prices by 10 percent in one go and our payload factor (the proportion of seats sold) would fall from 85 percent to 60 percent. Our whole low-cost business model would be thrown into question," Bacchetta said.

"The most competitive companies like Ryanair or ourselves will survive, along with one in Germany and perhaps one more in Europe. The others will die or merge as cripples. This phenomenon will even touch so-called normal carriers."

EasyJet issued a profit warning last month, citing higher fuel costs.
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Old April 25th, 2008, 02:08 AM   #1488
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Quote:
Originally Posted by Langur View Post
Rolling 12 month passenger totals to February 2008:
EasyJet = 39,016,836
Ryanair = 50,210,000

Percentage increase in passengers since February 2007:
EasyJet = 14.1%
Ryanair = 20%

Load factor (ie percentage bums on seats) in February 2008:
EasyJet = 83.3%
Ryanair = 81%


Ryanair sails through the 50 million mark as EasyJet approaches 40 million. Once past 100 million their combined total will close on Southwest.
Rolling 12 month passenger totals to March 2008:
EasyJet = 39,652,382
Ryanair = 50,930,000

Percentage increase in passengers since March 2007:
EasyJet = 20.5%
Ryanair = 19%

Load factor (ie percentage bums on seats) in March 2008:
EasyJet = 83.5%
Ryanair = 82%


Their combined total now exceeds 90 million. Next stop 100 million pax pa and surpassing Southwest (US low cost airline Southwest carries more passengers than any other airline in the world).
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Old July 16th, 2008, 06:55 AM   #1489
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Ryanair says to cut flights, guidance unchanged

DUBLIN, July 15 (Reuters) - Irish airline Ryanair said on Tuesday it would cut flights at its Dublin base due to high fuel prices and airport costs, but it was not changing its profit guidance for this year.

Ryanair, Europe's biggest budget airline, said it would cut weekly flights at Dublin by 12 percent this winter and it would also cut some at Stansted in the UK, which it will detail later this week.

All in all, it expects to ground just over 10 percent of its fleet for the winter, Chief Executive Michael O'Leary said, adding that he expects Ryanair to carry about 58 million passengers in the year, 1 million fewer than an earlier forecast.

"No change in full-year guidance at the moment," O'Leary told a news conference when asked about his profit outlook.

"This year we are going to make very little or no money if oil stays around $130-$140 a barrel," O'Leary said.

Ryanair said earlier this year it hoped to break even in the current year through March 2009 based on average fares rising some 5 percent and an average oil price of $130 a barrel.

"Compared to winter 2007, when Ryanair operated 22 aircraft, and over 1,350 weekly flights, Ryanair's schedule at Dublin this winter will be reduced to 18 based aircraft and less than 1,200 weekly flights," Ryanair said in a statement.
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Old July 16th, 2008, 05:58 PM   #1490
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Ryanair, however, is adding four new lines to Stockholm Skavsta as well as adding more departures on current lines. Was announced this week.

And EasyJet recently announced it will be coming to Stockholm. They will fly from the main airport, Arlanda, to Milan. Milan-Stockholm has a lot of airlines and a lot of daily flights now, I wonder if this will be sustainable...
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Old July 17th, 2008, 04:25 PM   #1491
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Quote:
Ryanair to cut Stansted flights

Ryanair is not alone in having to deal with higher operational costs
Ryanair, the budget Irish airline, has said it will cut about 250 flights from Stansted this winter as it tries to offset higher fuel and airport costs.

It also will suspend flights to seven other European airports in nations including Hungary, Poland, and Austria. Ryanair said flights from Stansted will drop to less than 1,600 in the winter of 2008-2009, a reduction of about 14%.

The cuts would see it carry about 900,000 fewer passengers and trim its Stansted fleet to 28 planes from 36.

On Wednesday, Ryanair said that it was also cutting flights from Dublin.

The airline said it was cutting the number of aircraft it had in the Irish capital by almost a fifth and the number of flights by 12%.

Ryanair's shares climbed by 3.6% to 3.03 euros in Dublin.

The company's winter season runs from October to March.

Between 4 November and 19 December it will suspend flights to airports at Basel in Switzerland, Budapest in Hungary, Krakow and Rzeszow in Poland, Palma and Valencia in Spain, and Salzburg in Austria

...
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Old July 17th, 2008, 10:44 PM   #1492
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900,000 pax less in stansted? we knew it would happen but I was expecting much less than that.
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Old July 26th, 2008, 06:31 AM   #1493
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EasyJet profit fears over rise in fuel costs sparks sector slide
25 July 2008
Financial Times

EasyJet profits could fall by more than 40 per cent this year because of the surge in fuel costs, the airline said yesterday, triggering a steep fall in share prices across the aviation sector.

EasyJet shares fell 37½p or 10 per cent to 332½p. British Airways fell 8 per cent, Ryanair by about 3 per cent and Air France-KLM by 5.3 per cent, largely wiping out the previous day's gains, which had come in response to this week's fall in the crude oil price.

In recent days, however, jet kerosene prices have fallen far less than the price of crude oil.

EasyJet forecast pre-tax profits, before one-off items, would fall to £110m-£120m in the current financial year to the end of September, from £191m a year ago, based on an average jet fuel price of $1,280 (£643) per tonne in the six months from April to September.

Jet fuel is trading at just under $1,300 a tonne. Easy Jet has hedged 28 per cent of its fuel requirements for the next financial year to September 2009 at $1,265 a tonne. It expected fuel costs for the year to September 2008 to rise by £185m but said it had managed to offset about half of the increase by cutting other costs and raising revenues per passenger.

EasyJet, the UK's leading budget airline, also plans to sharply cut its rate of capacity growth during the winter and to cut capacity at its London Stansted base. The company will also close its Dortmund base in Germany.

It said the winter season would be "challenging" for the entire airline sector.

The EasyJet statement followed recent announcements by Ryanair, its Irish rival, of capacity reductions during the winter at its main Stansted and Dublin bases. British Airways is expected to announce plans next week to cut capacity in the winter by 3-5 per cent, mainly in short-haul European flights.

EasyJet said that its underlying business continued to "perform well and in line with expectations". Non-fuel costs in the second half were also hit, however, by higher airport charges, in particular at London Gatwick, owned by BAA.

The airline is seeking a judicial review of the sharp rise in Gatwick charges, approved earlier this year by the Civil Aviation Authority, the economic regulator for the three main London airports. EasyJet is reducing its capacity growth this winter to between 4 and 6 per cent from a previous level of about 15 per cent. At Stansted, winter capacity will be cut by about 12 per cent as the airline reduces unprofitable flying.

It plans to re-allocate some capacity from poorer-performing bases, such as Dortmund, to stronger airports such as Milan Malpensa, Gatwick and Paris Charles de Gaulle. Ryanair said last week it was cutting the number of weekly flights to and from Stansted by 14 per cent this winter.

EasyJet said flexibility was vital in a volatile environment.
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Old July 31st, 2008, 06:42 PM   #1494
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Ryanair has no need of mergers-CEO

BOLOGNA, Italy, July 31 (Reuters) - Low-cost airline Ryanair has no need to merge with another airline, its chief executive Michael O'Leary said on Thursday, adding his company will be one of five main flyers left after the industry consolidates.

"Ryanair does not need mergers with other companies," O'Leary said at a press conference in the central Italian city of Bologna.

"After consolidation among flag carriers because of expensive fuel, five main companies will remain and Ryanair will certainly be among them," O'Leary said.

High fuel costs and crimped consumer spending are hurting airlines and earlier this week two major European players, British Airways and Spain's Iberia announced they were in discussions about a possible merger.

O'Leary's company, which is Europe's biggest low-cost carrier, said earlier this week it might make its first loss since 1989 because it will respond to high fuel costs and the threat of recession by cutting fares.

O'Leary said rival low-cost carrier EasyJet could be another company to survive the consoldation intact.

Ryanair reported an 85 percent slide in its first-quarter net profit on Monday.
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Old August 6th, 2008, 05:14 AM   #1495
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BAA sues Ryanair over refusal to pay higher charge

DUBLIN, Aug 5 (Reuters) - British airport operator BAA is taking Irish airline Ryanair to court over its refusal to pay a 15 percent increase in charges at Stansted airport, Ryanair said on Tuesday.

Ryanair said in April it would not pay the higher charges imposed by BAA, owned by Spanish firm Ferrovial.

"It's most likely (the matter will result in) a High Court action," a Ryanair spokesman said, adding that the court had not formally notified the carrier yet.

"We are going to fight the action," he said. "We don't think the fees are warranted."

A BAA spokesman said Stansted charges remained within the limits allowed by the regulator, the Civil Aviation Authority.

"This matter is in the hands of the lawyers so it is inappropriate to make any comment at this stage," the BAA spokesman said.

Rival low-cost airline easyJet also said in April it wanted to withhold part-payment of price rises by BAA at Gatwick airport.

Ryanair, Europe's biggest low-cost carrier, said last month it would cut winter capacity at Stansted, its busiest hub, due to high fuel prices and because the cost of using Stansted was too high.

The Dublin-based airline warned last week that it may make its first loss since 1989 because it will respond to the rise in fuel costs and the threat of recession by cutting fares.

On Tuesday Ryanair reported a 19 percent year-on-year rise in the number of passengers it carried in July to 5.66 million, but it added that the average flight was slightly less full.

Ryanair said its load factor -- a measure of how well a carrier is filling available seats -- was 89 percent in the month, down from 90 percent in July 2007.

Shares in Ryanair rose more than 15 percent after benchmark oil prices fell to a three-month low below $119 a barrel at one point, down $28 from July's record highs. The company's shares closed 0.9 percent lower in Dublin at 2.58 euros.
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Old August 6th, 2008, 02:47 PM   #1496
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Wow I thought this thread had disappeared without trace! I couldn't retrieve it even using the search function! An update on the figures is now long overdue. It's good to see EasyJet sailing past the 40 million mark and the combined total of both airlines closing on the 100 million mark:


Rolling 12 month passenger totals to April 2008:
EasyJet = 40,071,680
Ryanair = 51,550,000

Percentage increase in passengers since April 2007:
EasyJet = 15%
Ryanair = 15%

Load factor (ie percentage bums on seats) in April 2008:
EasyJet = 83.2%
Ryanair = 81%



Rolling 12 month passenger totals to May 2008:
EasyJet = 40,604,175
Ryanair = 52,460,000

Percentage increase in passengers since May 2007:
EasyJet = 15.9%
Ryanair = 22%

Load factor (ie percentage bums on seats) in May 2008:
EasyJet = 83.2%
Ryanair = 81%



Rolling 12 month passenger totals to June 2008:
EasyJet = 41,276,487
Ryanair = 53,290,000

Percentage increase in passengers since June 2007:
EasyJet = 19.5%
Ryanair = 19%

Load factor (ie percentage bums on seats) in June 2008:
EasyJet = 83.3%
Ryanair = 84%
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Old August 6th, 2008, 04:01 PM   #1497
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There is a rumour going around today that Ryanair might be about to order 400 planes!!



Quote:
FRANKFURT (Thomson Financial) - Ryanair is in talks with EADS unit Airbus and Boeing Co. to buy up to 400 aircraft to secure mid-term growth following its recent earnings slump, chief executive Michael O'Leary told Sueddeutsche Zeitung in an interview.
Planes are "about half as expensive as they were a few years ago", he said, because of the currently weak U.S. dollar.
Europe's largest low-cost carrier last month said first-quarter net profit slumped 85 percent as its fuel costs soared, and warned it may post a full-year loss of up to 60 million euros if oil prices remain high.
"But the price will fall below $100 again because demand is declining," O'Leary told Sueddeutsche. "There is no oil shortage." However, if prices remain high, only between three and five European airlines will stay afloat in the longer term, among them "Ryanair and maybe Easyjet", he said.
Airlines around the world have been merging with peers and buying shares in smaller rivals to boost their income in the face of surging fuel prices. Oil prices have risen 63 percent in the past 12 months and last month reached record levels above $145 per barrel.

I expect Ryanair shares will rocket on the Dublin stock market if this is true.........of course Ryanair did something similar after 9/11 and pulled off a bit of a coup. With the weakness of the dollar this could be advantagous.


If this is true Ryanair is basically looking to triple its fleet in the medium term!
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Old August 14th, 2008, 06:13 AM   #1498
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ANALYSIS-Will Ryanair's O'Leary win his low cost gamble?

DUBLIN/LONDON, Aug 13 (Reuters) - The prospect of losses at Irish budget airline Ryanair has sent many an investor fleeing, but those with faith in its strategy of lower fares in the face of high costs may be richly rewarded.

Chief Executive Michael O'Leary said last month that a failure to hedge against high fuel prices and a consumer downturn could plunge the Dublin-based airline into the red for the first time in almost two decades.

The market reacted in horror, sending the shares down 25 percent on the day. O'Leary's forecast that average fares will drop by 5 percent was a U-turn from two months previously, when he saw robust demand boosting prices 5 percent during the year.

But while full service airlines such as British Airways and AirFrance-KLM are currently adding fuel surcharges to prices in order to claw back margins this winter, possibly at the expense of passenger numbers, O'Leary said he was confident the company's business model could cope.

He has launched one of his winter promotions -- 1 million flights for five pounds each -- on top of an ordering policy that will see 49 new aircraft delivered in the current financial year, an increase in capacity that more then offsets the grounding of some planes at London's Stansted and elsewhere.

"This increase in capacity is a grave concern for the industry and is likely to exacerbate the collapse in Ryanair's returns," said Collins Stewart analyst Andrew Fitchie.

Winter promotions could trigger a "price war" with rival airlines such as easyJet , which has yet to forecast an impact on winter fares, Fitchie added.

But faced with criticism and investor jitters about the group's aircraft ordering policy and lack of hedging, O'Leary is unrepentant.

"I think we'll be right and all the other airlines who are desperately hoping that ticket prices will go up this winter will be wrong," he told reporters in Frankfurt this month.

He also insists that ambitious plans to double Ryanair's fleet to 300 planes by 2012 and preliminary talks to buy up to 400 new ones over the longer term were a sensible strategy.

"Why is it unsustainable?," O'Leary told the BBC on Wednesday. "Demand for Ryanair's fares has never been higher, I think partly because ... people are getting a bit more price sensitive."

CHARGE NOTHING

Ryanair and arch rival easyJet operate a model where prices rise the busier a plane gets, meaning fewer travellers dictate a lower average price.

This compares sharply with the BA model, which sacrifices load factor -- a measure of filling planes -- by raising fares in order to bolster revenues. "We could charge nothing, and fill up our aeroplanes (but) it's a balance between price and volume," BA head of investor relations George Stinnes has said.

Ryanair's confidence it can keep fares low regardless of the hit is based on a number of factors. Firstly, it is gambling that passengers trade down to the low cost airlines rather than stop flying completely -- a trend that appears accurate so far based on passenger numbers.

Ryanair and easyJet passenger volumes rose 19 and 20 percent respectively in July, while AIR France-KLM was up 1.8 percent and BA traffic down 3.5 percent in the same month.

"Just look at Ryanair and easyJet, both of them show that passengers are in fact trading down," said John Goode, analyst at Goodbody stockbrokers in Dublin.

"Their strategy is a long-term one. I think it will work in the long run in the sense that they will win passenger volumes from competitors, but in the meantime earnings are likely to suffer," he added.

Similar gambles have paid off for O'Leary in the past: his order for 100 new Boeing aircraft and options on 50 more after the Sept. 11 attacks on the United States at rock bottom prices underpinned years of subsequent expansion for Ryanair.

Further advantages for Ryanair are a strong balance sheet, laden with a cash-pile of some 2.2 billion euros to swallow any losses, and the fact that Michael O'Leary is a significant shareholder with over 4 percent of the company.

"Ryanair with its very, very strong balance sheet and with its cost base continues to be exceptionally well placed in the industry and they will remain a very strong player," said Gert Zonneveld at Panmure Gordon in London.

"What would be the alternative? To charge a higher price and fill 50 percent of the aircraft and not make money, is that the alternative?" he added.

Much still depends on the price of oil.

Ryanair has held up its hands that its tactic of not hedging against the oil price in the belief that it would fall was a bad one. It then changed tack, taking advantage of a recent oil correction to hedge fuel for the last four months of the calendar year at between $124 and $129 a barrel -- just to see oil fall as far as $112.

"Oil really still is the key factor. If oil comes off they'll return to profitability and substantial profitability very quickly," Goodbody's Goode said.
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Old August 14th, 2008, 08:17 AM   #1499
Skyprince
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Quote:
Originally Posted by Langur View Post
Wow I thought this thread had disappeared without trace! I couldn't retrieve it even using the search function! An update on the figures is now long overdue. It's good to see EasyJet sailing past the 40 million mark and the combined total of both airlines closing on the 100 million mark:


Rolling 12 month passenger totals to April 2008:
EasyJet = 40,071,680
Ryanair = 51,550,000

Percentage increase in passengers since April 2007:
EasyJet = 15%
Ryanair = 15%

Load factor (ie percentage bums on seats) in April 2008:
EasyJet = 83.2%
Ryanair = 81%



Rolling 12 month passenger totals to May 2008:
EasyJet = 40,604,175
Ryanair = 52,460,000

Percentage increase in passengers since May 2007:
EasyJet = 15.9%
Ryanair = 22%

Load factor (ie percentage bums on seats) in May 2008:
EasyJet = 83.2%
Ryanair = 81%



Rolling 12 month passenger totals to June 2008:
EasyJet = 41,276,487
Ryanair = 53,290,000

Percentage increase in passengers since June 2007:
EasyJet = 19.5%
Ryanair = 19%

Load factor (ie percentage bums on seats) in June 2008:
EasyJet = 83.3%
Ryanair = 84%
Hmm, how do they campare with Asian LCCs like Air Asia & Tiger Airways ?
Do you have any stats ? I think in terms of pax European LCCs win hands down but when it comes to annual growth ...
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Old August 14th, 2008, 08:47 AM   #1500
hkskyline
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Quote:
Originally Posted by Skyprince View Post
Hmm, how do they campare with Asian LCCs like Air Asia & Tiger Airways ?
Do you have any stats ? I think in terms of pax European LCCs win hands down but when it comes to annual growth ...
I don't think most Asian LCCs even come close to reaching those traffic numbers.

Except AirAsia : http://www.airasia.com/site/ch/en/pr...ce700-11685678
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