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Old March 27th, 2011, 08:21 AM   #1821
hkskyline
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Ryanair faces drop in earnings as 2013 fuel left unhedged
26 March 2011
Irish Independent

CREDIT Suisse has slashed its target price for Ryanair shares by 18pc and predicted a "significant risk" to the airline's earnings in 2013 due to an unhedged fuel position for the period.

Analysts led by Neil Glynn at the investment bank said in a research note released yesterday that investors are likely to increasingly focus on Ryanair's 2013 financial year in coming months, zeroing in on the fact that the airline hasn't any forward contracts to cover its fuel requirements for the period.

Credit Suisse pointed out that while Ryanair has 90pc of its fuel requirements hedged for the period to the end of December this year, it only has 50pc in place for its 2012 financial year and none hedged for the subsequent period.

"In our view, this hedging position has limited share-price declines in the year to date, but we expect the market to increasingly look forwards to full-year 2013 in coming months and to recognise a subdued earnings growth outlook," noted the Credit Suisse report.

The institution cut its forecast earnings for the current financial year by just €2m to €408m, but has pencilled in a 4pc fall in the following year to €507m.

However, for the 2013 financial year, Credit Suisse has cut its predicted earnings at Ryanair by 17pc to €489m from €588m.

Credit Suisse said that consensus earnings forecasts for Ryanair's 2013 financial year has only slipped 2pc so far despite a 28pc rise in jet fuel pricing.

It reckons Ryanair's fuel costs in its 2013 financial year will jump to just over €1.99bn, up 15pc from the institution's previous estimate of €1.73bn.

It also envisages that Ryanair will probably pressurise "substantially weaker" players in Ireland, the UK, Spain and Italy in 2012 and 2013 due to its lower planned-growth rates.

Credit Suisse said the airline would likely exert its "industry-low unit costs and strong balance sheet to gain market share".

"This strategy is attractive for the long-term investor but may prove unattractive in the short term, particularly as the carrier most exposed to discretionary travel spend in the sector," added the investment bank.

Shares in Ryanair closed up 5 cent at €3.27, a gain of 1.4pc
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Old March 27th, 2011, 10:39 AM   #1822
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Ads on boarding passes? Sooner or later Ryanair is going to start charging people for using the toilet on board, on grounds of "lowering the carbon footprint of the world's most eco-friendly airline, building a better future for our next generation", so on and so forth...
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Old March 27th, 2011, 11:52 AM   #1823
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Originally Posted by Rachmaninov View Post
Ads on boarding passes? Sooner or later Ryanair is going to start charging people for using the toilet on board, on grounds of "lowering the carbon footprint of the world's most eco-friendly airline, building a better future for our next generation", so on and so forth...
For a short-haul flight it's OK. But then will they give the proceeds to green causes?
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Old March 27th, 2011, 01:00 PM   #1824
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For a short-haul flight it's OK. But then will they give the proceeds to green causes?
Undoubtedly they won't. They're just going to say it's a green step lol
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Old March 27th, 2011, 09:20 PM   #1825
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I'll soon be commuting weekly with Ryanair... :o
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Old March 28th, 2011, 06:37 AM   #1826
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I'll soon be commuting weekly with Ryanair... :o
Good luck!

You flying from Scotland to London?
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Old March 29th, 2011, 06:44 PM   #1827
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EasyJet inaugurates Jordan route despite recent deadly violence amid protests
28 March 2011

AMMAN, Jordan (AP) - Britain's EasyJet says it has no qualms about its new low-cost service to the Jordanian capital despite protests that have recently turned deadly in this Mideast country.

EasyJet flights to Amman started on Sunday.

The budget carrier's spokesman James Fearnley said on Monday that EasyJet still considers Jordan "stable" even though there have been three months of anti-government protests inspired by the uprisings across the Arab world. One protester died on Friday.

EasyJet is the first low-cost airline link from Europe to Jordan with a return ticket priced at $166, or 106 British Pounds, including tax -- a quarter of rates by other airlines.

Jordan's Tourism Board has predicted tourist numbers will drop by 25 percent over regional unrest.
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Old March 30th, 2011, 04:00 PM   #1828
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Low-cost airline reveals new Manchester route
29 March 2011
Belfast Telegraph

BUDGET airline easyJet has announced a new Belfast to Manchester route -- and has also shifted a London route away from the City Airport.

The airline yesterday announced it was returning its Luton route from the City Airport to Belfast International after a year's trial.

A new Manchester flight, with fares starting at £23.99 plus taxes, will start from Belfast International on October 31, though flights go on sale this week from easyJet.com.

Rival low-cost airlines bmibaby and Flybe already operate Manchester routes from Belfast City.

EasyJet commercial manager Ali Gayward said: "We believe it is a very good time to introduce the Manchester route.

"The city is increasingly becoming an important business centre, and with weekday flights from 7.20pm, people will be able to complete a full day's work on arrival in Manchester.

"We will also be providing business people in the North West of England with cost-effective and flexible access to Belfast.

"More people are now going to Manchester on short breaks and, of course, many football fans will be heading there for big matches, particularly at weekends."

Meanwhile, the Luton route will start afresh from Belfast International Airport on May 6th -- the reverse of a bmibaby decision last year to leave the International Airport to join sister airline British Midland International (bmi) at Belfast City.

Ms Gayward said: "Moving to Belfast City Airport was always a trial, but in over a year we have seen no tangible benefits.

"Our 20 other routes operate from Belfast International and we will now consolidate our overall operation by re-establishing our Luton flights from there as well.

"Luton is a popular route for both business and leisure travellers, and dovetails well with our other London area services from Belfast International to Stansted and Gatwick.

"Our same high standards of service will continue to be a priority and will ensure that easyJet retains its position as Northern Ireland's favourite airline."

Uel Hoey, business development director at Belfast International, welcomed easyJet's announcement:

"Together with the return of the easyJet Luton service and ongoing evaluations in respect of other key domestic and international routes, these are truly exciting times for the airport."
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Old April 4th, 2011, 06:49 AM   #1829
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Ryanair defends £2 levy to pay for impact of last year's travel chaos
1 April 2011
Guardian Unlimited

Ryanair chief executive Michael O'Leary has denied the airline is "punishing" millions of passengers by imposing a £2 levy (€2 in Europe) on fares to pay for customers stranded during last year's snow, volcano and air traffic control chaos.

The chief executive of Europe's largest short-haul carrier said the airline had no choice but to introduce a new add-on charge from next week after the European Union failed to reform its EU261 compensation law. O'Leary said the £110m raised by the fee over the next 12 months will cover the cost of providing hotels and compensation to passengers stranded by last year's severe weather, the Icelandic volcano eruption and air traffic control strikes in Belgium, France and Spain.

"If you are not allowed, as EU261 regulation states, to recover these costs then the passenger must pay," said O'Leary, repeating calls for a "force majeure" clause that would waive compensation for delays and cancellations outside an airline's control. O'Leary denied he was punishing passengers this year in order to pay for customers stranded last year who, for instance, had to spend an extra fortnight in hotels in Tenerife due to the Icelandic volcano that shut down European airspace in April.

"Nobody has argued that Ryanair punishes people given that we offer the lowest fares and are the most punctual airline," O'Leary said. He also predicted that other airlines will soon follow suit if there is no EU261 reform. "If the EU says airlines should become the insurer of last resort then we have to be allowed to recover the costs from passengers."

The Ryanair boss pledged to reduce the levy to zero next year if the airline incurs no "unfair" EU261 costs over the next 12 months. The levy represents a 6% increase on last year's average fare of £30. The consumer group Which? said Ryanair should use the proceeds from the levy to ensure that all EU261 payments are dealt with swiftly in the future.

Rochelle Turner, head of research for Which? Travel, said: "Since this charge is going to be passed on to all Ryanair passengers from now on, we will be watching closely to see how it deals with claims made under EU261. With more money to put towards resources for processing claims, Ryanair will have no excuse for delays in dealing with them."
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Old April 6th, 2011, 01:01 PM   #1830
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Ryanair cuts at Alicante after row
6 April 2011
The Daily Telegraph

RYANAIR is pulling nine of its 11 aircraft from Alicante, cutting the number of passengers it flies there by 2.5m a year, after a row with the Spanish airport over how passengers board the planes.

The airline announced the cutbacks to the winter schedule after Alicante–owner Aena forced it to use airbridges rather than allow passengers simply to walk to and from the aircraft – and pay €2m (£1.75m) extra a year in landing charges.

Michael O'Leary, Ryanair chief executive, said: "We are not going to be bullied by an abusive airport monopoly, or forced to pay €2m extra for inefficient airbridges which neither we nor our passengers want."

The issue arose when Alicante moved Ryanair to its new terminal, which Mr O'Leary maintained "was not needed". Ryanair said it would axe 31 routes to Alicante from October, including Bournemouth, Doncaster and Cork, and cut frequencies to a further 27 destinations. That would reduce its annual passengers at the airport from more more than 4m to below 1.5m.

"This abusive behaviour by Aena Alicante will now mean that the airport loses over €30m in revenues per year, more than 2.5m passengers and over 2,000 jobs," Mr O'Leary claimed, citing the impact on local tourism.

Ryanair has submitted a complaint to the Spanish Government and the European Commission.

Ryanair said it had been talking to Alicante airport for about six months, arguing that using airbridges would wreck the 25–minute turnaround times on which its schedule depends. Planes would have to wait for the airbridge to be put in place, while passengers could board or disembark at only one point rather than the current practice of using steps at the front and back of the aircraft.

"This is really not an issue about costs," said Ryanair spokesman Stephen McNamara. "With 60 flights a day, we can't have the knock–on effect of planes being delayed 20 to 30 minutes."

The airport owner hit back, saying: "The use of airbridges is essential to ensure not only quality service, but safety." It said "Ryanair, as well as other companies" had been offered the possibility of not using airbridges but "remote positions and transferring passengers by bus". It said the extra costs per passenger were just 32 cents.
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Old May 14th, 2011, 08:19 AM   #1831
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Source : http://pic.feeyo.com/posts/472/4726044.html



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Old May 17th, 2011, 06:45 PM   #1832
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Ryanair in talks with Chinese, Russians on planes

DUBLIN, May 6 (Reuters) - Europe's largest low-cost airline Ryanair has met with officials from the Commercial Aircraft Corporation of China (Comac) recently about future potential plane orders, its finance director said on Friday.

"We have met with the Chinese aviation company. We are also meeting with other aircraft manufacturers," Howard Millar told reporters.

"We have no plans for any future aircraft orders, but beyond the horizon, 2014 and 2015, we need to look at some fleet replacement and some growth, and we are meeting with all manufacturers to discuss what they have to offer."

Millar, who was attending the annual general meeting of domestic rival Aer Lingus , said Ryanair had also met Russian manufacturer United Aircraft.

"We have met both of them," he said. "These are new entrants into the market.

"Given the size and the scale of the Chinese, you ignore them at your peril."

Ryanair currently flies only Boeing jets.

Ryanair has a near 30 percent stake in Aer Lingus, and Millar attended the AGM to air Ryanair's complaints about the absence of a dividend and the re-election of Ireland's top trade union leader to the Aer Lingus board.

Ryanair has tried twice to take over Aer Lingus but has been thwarted by regulators' concerns that competition would suffer. Millar said the company had not made a fresh bid, despite a recent government-sponsored report saying that the state should sell its 25 percent stake in the airline.
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Old May 17th, 2011, 08:44 PM   #1833
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russians or chinese would have to sell their planes under very big discounts (even under their costs even if that would put them at risk of being fined by the WTO) in order for Ryanair to choose those planes, and not just because mechanics and pilots would have to be retrained, but also because it's a risky bet and because public opinion might not see with good eyes flying such planes. Therefore I think it's more a way of putting preassure on boeing to develop a new more efficient 737 soon and to reduce its prices than anything real.
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Old May 18th, 2011, 04:58 AM   #1834
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Quote:
Originally Posted by Suissetralia View Post
russians or chinese would have to sell their planes under very big discounts (even under their costs even if that would put them at risk of being fined by the WTO) in order for Ryanair to choose those planes, and not just because mechanics and pilots would have to be retrained, but also because it's a risky bet and because public opinion might not see with good eyes flying such planes. Therefore I think it's more a way of putting preassure on boeing to develop a new more efficient 737 soon and to reduce its prices than anything real.
Well, Boeing and Airbus offer substantial discounts off listing prices for its big customers as well. It'll probably take many years for the Chinese-designed plane to be certified and put in the skies over Europe.
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Old May 18th, 2011, 03:26 PM   #1835
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There's no way Ryanair is going to fly Russian or Chinese metal.
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Old May 18th, 2011, 06:32 PM   #1836
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Why not? If it should be cheaper and fulfil safety regulations they will do so. You can bet your arse on that.
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Old May 19th, 2011, 05:47 AM   #1837
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Why not? If it should be cheaper and fulfil safety regulations they will do so. You can bet your arse on that.
Imagine a crash a year into operating Russian/Chinese crafts.
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Old May 19th, 2011, 07:04 AM   #1838
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Quote:
Originally Posted by siamu maharaj View Post
Imagine a crash a year into operating Russian/Chinese crafts.
We get more than that for American / European-built aircrafts among operators worldwide.
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Old May 19th, 2011, 08:37 AM   #1839
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Quote:
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We get more than that for American / European-built aircrafts among operators worldwide.
I know. I'm just talking about the perception. If a non-Western plane crashes people would be afraid of flying them. Would Ryanair like to take that chance? Even Western turboprops have a bad reputation (people think they're unsafe) and I know so many (incl. my wife) who simply refuse to fly them. I even explained to my wife the whole process of certification etc. but to no avail. Russian jets already have a bad reputation and IMO a crash would cost Ryanair dearly considering they buy planes by the hundreds.
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Old May 19th, 2011, 02:44 PM   #1840
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I think it's more a "provocation" to make Airbus and Boeing bring their prices down.
If it's not, I'm not sure people will even notice that ryanair owns russian or chinese aircrafts, as long as there is no problem with them.
But only one problem and the siamu maharaj's scenario would happen.
But anyway, I would be very surprised if they bought them!!
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