Ryanair - 6
When times were good they were making huge profits, these profits didn't grow exponentially as the airline expanded so for the last two or three years they were effectively 'running to stand still', now they're still expanding but making a loss, the cracks are starting to appear.
What they showed in making a loss was a write down of aircraft for future sales and a write down of holding in Aer Lingus neither of which have any impact on cash.
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Curious. A friend of mine, flying with RYR, has told me his T's & C's have been reduced/rewritten because RYR posted 2 consecutive qtr's of losses. The staff have taken a personal hit for RYR's financial performance.
However, from the figures above there was an operating profit and the loss seems to have been generated by the Aer Lingus debacle. Was that not a management mistake, as was the fuel hedging. It seems hardly morally fair to penalise staff for events which were totaly outside their influence or control. I doubt if they were asked if they'd like to take a risk with their T's & C's so RYR could play 'takeovers' with no risk to themselves. I wonder if those 'hits' will be restored after the 200-300m euros profit is achieved.
However, from the figures above there was an operating profit and the loss seems to have been generated by the Aer Lingus debacle. Was that not a management mistake, as was the fuel hedging. It seems hardly morally fair to penalise staff for events which were totaly outside their influence or control. I doubt if they were asked if they'd like to take a risk with their T's & C's so RYR could play 'takeovers' with no risk to themselves. I wonder if those 'hits' will be restored after the 200-300m euros profit is achieved.
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New Bases ?
So what is the latest rumours on new bases. Lots of new aircraft and deteriorating economic situation in the UK means I would see at least 6 more this year (12 aircraft) plus at least 1 at each of the other mature bases (32).
I read in the 09 Full Year results last month Greece removed some sort of airport or pax tax.
I hear also around 10% drops in pax for Vueling and Air Nostrum.
So here are my thoughts :-
1) Oporto
2) Santander
3) Malta
4) Malaga
5) Valencia
6) Treviso
I read in the 09 Full Year results last month Greece removed some sort of airport or pax tax.
I hear also around 10% drops in pax for Vueling and Air Nostrum.
So here are my thoughts :-
1) Oporto
2) Santander
3) Malta
4) Malaga
5) Valencia
6) Treviso
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However, from the figures above there was an operating profit and the loss seems to have been generated by the Aer Lingus debacle. Was that not a management mistake, as was the fuel hedging.
Aer Lingus is one of only two airlines in Europe with 'money in the bank'. It's not a bad airline and with it's expansion out of Ireland I can see it doing well if pointed in the right direction. Ryanair may have screwed up in fuel but I think buying part of Aer Lingus has been a wise move.
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I think you're spot on about Malta. It will become a base. Ryanair have top people out there negociating a deal based on pax numbers as an incentive.
That ASFKAP sounds like a nutjob to be honest.
That ASFKAP sounds like a nutjob to be honest.
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Probably a bit late for this year. Maybe Malta 2010 summer season, a bit like the Sardinian/Sicilian bases which opened at the start of this summer.
What normally seems to happen is they pick a destination to make into a base, which is already fed by mature bases still with growth potential. Therefore old routes look good and mature base builds new market.
What normally seems to happen is they pick a destination to make into a base, which is already fed by mature bases still with growth potential. Therefore old routes look good and mature base builds new market.
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Very interesting articles. I don't think O'Toole would have gone to the papers without a reason. Is he testing the water of Maltese Public opinion ?
To be honest I seem to recall the Maltese being a very astute bunch of business people over the centuries. I guess the sort of numbers of Pax, Ryanair could put there way, is way beyond what Air Malta could deliver.
Also, and maybe somebody more informed could comment, when Malta entered the EU, where there certain promises made regarding opening the air transportation market to outside competition ?
To be honest I seem to recall the Maltese being a very astute bunch of business people over the centuries. I guess the sort of numbers of Pax, Ryanair could put there way, is way beyond what Air Malta could deliver.
Also, and maybe somebody more informed could comment, when Malta entered the EU, where there certain promises made regarding opening the air transportation market to outside competition ?
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Well to be fair regarding VALENCIA the local government offered a quite substantial "investment" to Air Nostrum and FR was agreed this.....now things have been sorted it will be good to see normal operations resumed at VLC!! Which in fact was only fair.....
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After reading the AirMalta website, sounds like the company is having severe trouble with their Cabin Crew Union.
So maybe this is the leak to the press of the arrival of Ryanair in Malta???
So maybe this is the leak to the press of the arrival of Ryanair in Malta???
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Watching a travel programme yesterday and it mentioned the loo situation again. They seem to think that it's not dead but Ryanair are going to take out 2 loos and replace them with 6 more seats. The remaining loo will be charged for at £1 or 1 Euro a go. God help us if it goes U/S during the flight then we will be right in the S##T.
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MOL selling again
MOL has just sold 5,000,000 shares at 3.75 euros on 5th June.
It seems he has got the peak in the price just right as it is already falling back.
The summer will see planes parked up for part of each week and more planes are on the way. He was very lucky to get 3.75 euros a share.
It seems he has got the peak in the price just right as it is already falling back.
The summer will see planes parked up for part of each week and more planes are on the way. He was very lucky to get 3.75 euros a share.
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Spain's Queen Sofia not amused by Ryanair - Times Online
£4,400 for world coverage advertisement - true genius.
£4,400 for world coverage advertisement - true genius.
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'Plebs and Patricians'
I heard the 'Priority boarding' Q sign was changed to read 'Plebs and Patricians' for Queen Sofia's flight.
befree, the plural of Euro is Euro and IMHO he got sound advice but I'm more interested to see which line he'd slot into?
befree, the plural of Euro is Euro and IMHO he got sound advice but I'm more interested to see which line he'd slot into?
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I bet the Ryanair shareholders wish he was as astute when dealing with their money as he is when hes dealing with his own money.....
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Let me quote something from an other topic (Avman):
It is something that many of us have wondered at. Why MOL being so sensitive about money issues, seems unable to understand that better customer relations could so easily be reflected at sells level (= money). Better opinion about the airline as a means of improving the confidence, resulting in the growth of popularity (= better sells, better loads and yields), further development. Have we just found the vulnerable heel of Mr. Achilles MOL, by the way? Is it right here?
Ryanair started using the Southwest model and became equally successful. Unfortunately, it has lost sight with reality and, with its everchanging and increasingly penalising T&Cs, is fast becoming unpopular with a growing number of its clients. Unless they smell the coffee and rethink their gameplan, I envisage RYR becoming one of the industry's catastrophic failures somewhere in the not too distant future.
MOL has just sold 5,000,000 shares at 3.75 euros on 5th June.
He would not have been allowed to sell any shares for a considerable period of time as he would be aware of specific company information regarding results. Its pretty standard practice across companies quoted on the stock exchange.