"Ryanair, Europe’s largest low fares airline, today (5th June) announced its biggest ever single expansion, launching 12 new UK routes as part of a package of 40 new European routes for winter 2008."
and:
"Ryanair, Europe's biggest low fares airline, today (3 June) announced a 20% increase in full year net profits after tax to a record €481m. Traffic grew by 20% to 51m, average fares (including bag charges) fell by 1% to €44, while revenues grew 21% to €2.714bn. Despite a unit cost increase of 2%, due to higher staff and airport costs, Ryanair delivered an industry leading after tax profit margin of 18%."
Taken from the Ryanair webpage. And they´re gonna lay off 600 pilots??? To me that´s strange mathematics...
So for the people with inside knowledge, does Ryanair have thought of flying Hadjj flights, they certainly got the resources to do it and pilgrims tend to cost sensitive many flying for the first time in their lives?
Ryanairs business model is based on selling its older 737's to accommodate new ones arriving from Seattle, even though the older ones are only 5 yrs old.
All well and good in a thriving airline market with plenty of takers and not a great deal of spare capacity.
But the exact opposite is happening, Ryanair is struggling to pass on these airframes with no customers to pay top dollar for them and also with many other carriers retiring the same type of aircraft, the market value drops through the floor.
And with money scarce and banks not willing to lend to airlines, if an operator needs to buy an aircraft, he will go to the desert and buy a lot cheaper aircraft and not a 5yr old 737-800
I haven't seen any airlines parking 737-800's in the desert en masse.
What are being sent to the desert are older classic models (737-300/400/500) so *if* someone was going to choose them, it may turn out to be a false economy on their part.
Any bank worth it's salt would look at a business plan and point that out
There is a leasing company taking 15 of the older 800's at the moment and this will go on for the next year. They are also looking at taking another 5 from them.
I think that the Ryanair Business plan also depends on selling new 737-800 and leasing them back.
The last full tax year showed an increase in the number of aircraft leased off balance sheet from 25 to 35. I presume that those aircraft are part of a sale and leaseback rather than a lease outside those on order.
One of the interesting aspects of the Ryanair accounts is the continual changing of accounting policy with regard to depreciation.
Cash isn't king unless you have no outstanding liabilities.
Accounting 101: "What you are worth is the difference between what you own and what you owe."
As for accounting policy changes, I haven't looked, however my BS meter ticks up a few notches every time I hear someone say that Ryanair is sitting on a mountain of cash. I would also like to know about it's liabilities, and how any off balance sheet transactions are reflected in them.
Ryanair starts 25th Base at Birmingham & announces A further 9 new routes$700M INVESTMENT TO DELIVER 5M PAX P.A. AND 5,000 JOBS
Ryanair, Europe's largest low fares airline today (Tuesday, 17th June 2008) started its 25th base in Birmingham. Ryanair also announced today that it will launch 9 new routes to: Alicante, Derry, Fuerteventura, Katowice, Kaunas, Krakow, Palma, Malaga and Murcia in October 2008.
Celebrating Ryanair's 25th base in Birmingham today, Ryanair's Bridget Dowling said:
"There's a double celebration at Birmingham International Airport this week. We're celebrating the arrival of our first based aircraft here and we're also announcing a further 9 new routes which go on sale today. With 32 low fare routes announced from Birmingham to date, people of the West Midlands no longer have to suffer BA high fares or their high fuel surcharges.
"By 2012 , Ryanair's will have aircraft based in Birmingham, which will deliver 5M passengers p. a. sustaining 5,000 jobs. This will equate to £400 million visitor spend for theWest Midlands. While other airlines, like BA, are busy increasing fares and fuel surcharges, Ryanair is guaranteeing the lowest fares and no fuel surcharges.
"To celebrate the start of our new base and the announcement of 9 new routes, Ryanair is offering 35,000 one-way seats from £5* on routes from Birmingham. This special offer must end Thursday midnight so we advise passengers to book their bargain seats today on www.ryanair.com"...................
So that clears up that little misunderstanding. Cash strapped, laying off crews, tightening belts, hopeless business model, no future, can't sell aircraft, about to fold.
Any other airline opening new bases and recruiting like crazy? No, I thought not.
You do all write such utter twaddle. Pathetic bunch of scribblers. But still you persist in ignoring the news that you don't want to hear and move on to the next doom-mongering rant about Ryanair. I have no doubt you will not comment on this piece of news as it is just that little bit positive and you just hate anything positive about Ryanair, don't you?
Words and phrases such as could,possibly,are they?,i heard etc are rife when it comes to ryanair threads.Give over the lot of you.Ryanair are one of the most transparent and honest 'tell it how it is airlines in europe'.They trumpet there achievements but are also realistic when facing troubled waters.O leary has said constantly to the british media in particular that Ryanair have not hedged accordingly and that there WILL be a big recession which WILL affect the business in the short term.How many other airlines have been so transparent?euromanx=No,Silverjet=No.etc etc.At least with the Ryans you know where you stand
other lesser airlines will almost certainly fold which is what ryr want obviously.Examine history,many millonaires today and big business were successful because when everyone else ran scared they pounced.Ryr still expanding now is an example of masterful business thinking.They WILL downsize to weather the storm and have the capability when the storm turns to clouds to eat market share.
600 jobs to go? pure dogs bolix.Leave will be eaten up by certain pilots over the winter(nice xmas),they will then work there bolix off and get those 900 hours in the next 9 months.
Those of you who wish to take the time to investigate the numbers can look at this secret website, known only to a select few, hidden from Joe Citezen's eyes, not to mention Wellington Bomber, Sky9 and Sunfish, amongst others.
It's other diversified activities appear airline and holiday related.
These diversified activities all eventually draw management attention away from Ryaniars core business - which is carrying their customers to where they want to go.
All I can say is that if or when you do go under, it's going to be quite spectacular.
Sunfish, Ryanair will be the last airline to close down, switching off the lights at UK plc when it is declared bankrupt in several years from now. But it will be the last!
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),they will then work there bolix off and get those 900 hours in the next 9 months.
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