Ryanair - 6

[ICEHOUSES]

Or does MOL think the depression is so good for lo cost outfits like FR he's confirming the order for 300 + new planes, another great decision after his great fuel hedging plan earlier..

[Provance]

transatlantic services perhaps ??

[Wee Weasley Welshman]

SR Technics to close Dublin hangar apparently. Something like 1,200 engineering jobs up in smoke.

Shocked reaction to SR Technics closure - The Irish Times - Thu, Feb 12, 2009


Is this related to the MOL announcement scheduled for now?

WWW

[positive]

Ryanair has announced cuts in its summer schedule at Dublin Airport, saying this will result in the loss of 200 jobs among pilots, cabin crew and engineers.

It has blamed the Government's decision to bring in a €10 travel tax from April.

Ryanair will cut the number of planes based at Dublin from 22 to 18. The airline earlier this month announced cuts in its Shannon services.

[Lord Lardy]

It has blamed the Government's decision to bring in a €10 travel tax from April.

And yet again the blame lies with external influences, and not their own.

[Tooloose]

"Ryanair....are not stupid"

Neither are Airbus. They told them where to stick their 400 aircraft order.

[ericlday]

SRTechics -another report

RTÉ News: Over 1,100 jobs to go at SR Technics

[leeds 65]

'200 jobs gone'

I presume these are not full redundancies but '200 jobs moved' to other bases around Europe.

The media LOVES bad news and they HYPE it up Big time

[potkettleblack]

Or does MOL think the depression is so good for lo cost outfits like FR he's confirming the order for 300 + new planes, another great decision after his great fuel hedging plan earlier.

And telling the world that you r*ped boeing over the 737 purchases has proved a silly move. He is now screwed with Airbus publicly stating that they have no intention to offer a discount but would be more than happy to sell him aircraft at normal list prices. I think a lot of the world are waking up and smelling the roses and realising that it isn't good for your health to do business with MOL.

[Bootcamp]

From Bloomberg

DUBLIN (Dow Jones)--Irish low-budget airline Ryanair Holdings PLC (RYAAY)
Chief Executive Michael O'Leary said Thursday he wants his staff to take a pay
cut of between 5% and 10% this year, and said he'd already taken a pay cut "far
above" that amount.
Speaking at a press conference, O'Leary also said he will also take a
"significant write-down" on his company's investment in Aer Lingus Group PLC
(EIL1.DB) in Ryanair's end-of-year results.
Ryanair has spent around EUR400 million on its stake in Aer Lingus at an
average price of around EUR2.40 per share. It has written down the investment
to EUR1.00 per share and sees Aer Lingus shares hitting EU0.50 and EUR0.75.
"If I had my choice, I'd write it off completely," O'Leary told Dow Jones
Newswires on the sidelines of the pres conference, "but accounting rules don't
allow you to write it off completely."
He said it was "highly unlikely" that Ryanair will make a third bid for Aer
Lingus. Ryanair's EUR748 million, EUR1.40 per share bid for Aer Lingus was
rejected last month. The airline still has a 29.8% stake in Aer Lingus.

Bootcamp

[vkid]

Interestingly MOL was just on Newstalk and said if the government remove the 10Eu tax or change it to a % of the fare, he will reverse the cuts at DUB and SNN in March..otherwise they stand.

[elle may clampit]

This is priceless - or just plain irish - true colours are hoisted high in SNN and DUB by the bloke that the Irish Govt briefly flirted with recently for the position of National Minister for Aviation!!

[boyzinblue]

Another 4 aircraft from Dublin to be moved to European bases...
Off to Italy again?

[Seljuk22]

Ryanair confirms the DUB reduction on their homepage. First SNN then DUB and tomorrow maybe Cork, Kerry and Knock

What about STN? FR reduced a lot at STN like DUB this winter. How many a/c will there be this summer?

Are there more a/c at GRO because of the new routes to VST and SVQ? How many are there this summer? Something about 10 I guess.

Thanks!

[Sikpupi]

...I don't see anything in his release about Cork, Kerry or Knock???

[840]

I can't really see them doing much at Cork or Kerry

Most of the routes from those two airports are among the company's cash cows. Perhaps Kerry-Hahn and Cork-Carcassonne could be in trouble. Otherwise, they could close the Cork base and operate Cork-Dublin with Dublin-based aircraft and Cork-Gatwick on a W.

Knock would potentially have more to lose. All routes from there other than Stansted must be quite marginal.

[Seljuk22]

I think if FR reduce capacity at DUB and SNN it is because of the new tax. So if this is true there could be reduction at Cork, Kerry... too. If not then the tax is not the reason why FR cuts at DUB and SNN...in my opinion. Maybe the routes out of SNN and DUB aren't profitable any more and FR needs something to justify the cut backs?

EDIT: I don't hope that they will cut anything but if FR won't pay the tax they have to.

[Charlie Roy]

At Shannon last week they said cuts and Dublin, Kerry and Cork would be announced this week.

[840]

Seriously, what are they going to cut from Kerry?

Dublin? This would put them in breach of their CSO obligations
Stansted? That's their most profitable route from the airport
Luton? Possible, but I still reckon they make a decent amount of money on the route.
Hahn? Probably the most likely to go, but it would mean the Kerry-based aircraft being unused for part of the day

[racedo]

Its a very clear drop the 10 Euro tax or lose the jobs......can't be any clearer than that.

Given the other job losses at SRT plus the reporting of very high unemployment I think the Irish Govt may have to look at this quickly and seriously.

Dangerous brinkmanship.