Ryanair-11
Joined: Oct 2018
Aviation Qualifications: PPL
Posts: 12,213
Likes: 1,646
From: Ferrara
https://www.bbc.co.uk/news/articles/cj50d6q3jlroRyanair says it expects summer fares will be much lower than last year after profits at the no-frills airline fell by almost 50%.
The company said cost-conscious passengers were cutting back while the timing of Easter holidays had also hit earnings, which slumped to €401m (£338m) in the three months to 30 June when compared with a year ago. Average passenger fares fell by 15% in the period, and the carrier said it would have to offer more discounting in the coming months.
"Fares are now moving materially lower than the prior year and pricing... continues to deteriorate," its boss Michael O'Leary said in a presentation announcing its latest results, external.
Shares in Ryanair and other airlines fell sharply as experts questioned whether the wider sector would be affected by customer budgets being squeezed during the peak summer travel period. Ryanair said it now expected fares between July and September to be "materially lower" than last year, rather than "flat to modestly up" as it previously expected.
The typical Ryanair fare in June stood at €41.93 in June, down from €49.07 the year before.
Chief financial officer Neil Sorahan said he thought that consumers were simply being "a little bit more frugal, a bit more cautious" with their money. He added that after two years of growth in travel demand, "there's a bit of pushback". Despite the slide in profits, Ryanair's passenger numbers increased slightly in the period, limiting the fall in its overall revenue to just 1%. However, the weak results may suggest that a post-pandemic boom in pricing enjoyed by airlines could be coming to an end, with other carriers having recently warned over falling ticket prices.
Ryanair said on Monday that its performance over the rest of the summer is "totally dependent" on more last-minute bookings and those in August and September in particular. Customers are typically waiting longer than usual to book summer holidays, which is thought to be partly a result of the ongoing effects of the cost-of-living crisis. Earlier in July, Jet2 said there would only be "modest" price increases this summer amid a wave of later bookings to its European destinations. Lufthansa has also pointed to "negative market trends", while Air France-KLM warned of a financial hit after fewer people than expected booked flights to Paris for the forthcoming Olympic Games.
In early morning trade in London on Monday, Ryanair's share price was down 12.5%, while that of rival carriers such as EasyJet fell 6.51% and Wizz Air 6.56%.
The company said cost-conscious passengers were cutting back while the timing of Easter holidays had also hit earnings, which slumped to €401m (£338m) in the three months to 30 June when compared with a year ago. Average passenger fares fell by 15% in the period, and the carrier said it would have to offer more discounting in the coming months.
"Fares are now moving materially lower than the prior year and pricing... continues to deteriorate," its boss Michael O'Leary said in a presentation announcing its latest results, external.
Shares in Ryanair and other airlines fell sharply as experts questioned whether the wider sector would be affected by customer budgets being squeezed during the peak summer travel period. Ryanair said it now expected fares between July and September to be "materially lower" than last year, rather than "flat to modestly up" as it previously expected.
The typical Ryanair fare in June stood at €41.93 in June, down from €49.07 the year before.
Chief financial officer Neil Sorahan said he thought that consumers were simply being "a little bit more frugal, a bit more cautious" with their money. He added that after two years of growth in travel demand, "there's a bit of pushback". Despite the slide in profits, Ryanair's passenger numbers increased slightly in the period, limiting the fall in its overall revenue to just 1%. However, the weak results may suggest that a post-pandemic boom in pricing enjoyed by airlines could be coming to an end, with other carriers having recently warned over falling ticket prices.
Ryanair said on Monday that its performance over the rest of the summer is "totally dependent" on more last-minute bookings and those in August and September in particular. Customers are typically waiting longer than usual to book summer holidays, which is thought to be partly a result of the ongoing effects of the cost-of-living crisis. Earlier in July, Jet2 said there would only be "modest" price increases this summer amid a wave of later bookings to its European destinations. Lufthansa has also pointed to "negative market trends", while Air France-KLM warned of a financial hit after fewer people than expected booked flights to Paris for the forthcoming Olympic Games.
In early morning trade in London on Monday, Ryanair's share price was down 12.5%, while that of rival carriers such as EasyJet fell 6.51% and Wizz Air 6.56%.
Joined: Nov 2018
Posts: 18
Likes: 7
From: England
Unsure if it’s been mentioned here but Ryanair are to expand their AOG rescue fleet which currently only has the Learjet but now plan on adding 2 to 4 Challenger 300/3500 with recruitment already started for their arrival.
Joined: Apr 2003
Aviation Qualifications: SLF
Posts: 739
Likes: 258
From: Midlands
Unsure if it’s been mentioned here but Ryanair are to expand their AOG rescue fleet which currently only has the Learjet but now plan on adding 2 to 4 Challenger 300/3500 with recruitment already started for their arrival.
Joined: Nov 2018
Posts: 18
Likes: 7
From: England
Joined: Nov 2016
Posts: 416
Likes: 49
From: This side of Heaven
Aircraft delivered to Ryanair have usually entered service remarkably quickly - often arriving at DUB one afternoon and engaging in revenue flights the next day. It is therefore surprising to see that the most recent delivery (EI-IJZ) which arrived at DUB on the 1st August has not yet entered service. Also another very recent delivery (EI-IKA) completed a few flights but has not moved from ALC since the early hours of the 2nd August. Can anyone reveal the reason for this? Are there serviceability issues already with these new aircraft?
Joined: Nov 2019
Posts: 387
Likes: 78
From: UK
How is it possible to request a refund of add-on’s to a Ryanair flight that has been cancelled.
Today due to storms at Palma, my flight was cancelled and after confirming my refund, the amount is only what I paid for the ticket and does not include the seat and bags I added on afterwards…
Today due to storms at Palma, my flight was cancelled and after confirming my refund, the amount is only what I paid for the ticket and does not include the seat and bags I added on afterwards…
Joined: Apr 2016
Posts: 1,398
Likes: 87
From: Essex
You have got to love the man. MOL has just had a rant against the Irish Government and their failure to lift the passenger cap at DUB.
That part may be fair enough but he goes on to say that this will mean Irish folk travelling home for Christmas may have to cough up €500 one way from London. He repeats this is down to the Green Minister and the Government.
Clearly the fares Ryanair charge are totally outside of their control.
That part may be fair enough but he goes on to say that this will mean Irish folk travelling home for Christmas may have to cough up €500 one way from London. He repeats this is down to the Green Minister and the Government.
Clearly the fares Ryanair charge are totally outside of their control.
Joined: Jan 2011
Posts: 108
Likes: 64
From: winchester
You have got to love the man. MOL has just had a rant against the Irish Government and their failure to lift the passenger cap at DUB.
That part may be fair enough but he goes on to say that this will mean Irish folk travelling home for Christmas may have to cough up €500 one way from London. He repeats this is down to the Green Minister and the Government.
Clearly the fares Ryanair charge are totally outside of their control.
That part may be fair enough but he goes on to say that this will mean Irish folk travelling home for Christmas may have to cough up €500 one way from London. He repeats this is down to the Green Minister and the Government.
Clearly the fares Ryanair charge are totally outside of their control.
Joined: Apr 2016
Posts: 1,398
Likes: 87
From: Essex
I do not have a problem with anything you say about supply and demand, it is absolutely correct. You would have thought by now I would be used to watching MOL seeing everything from a numbers cap to a cream pie in the face as an opportunity for Ryanair.
Joined: Jun 2023
Posts: 90
Likes: 18
From: Munich
Berlin down to 7 a/c
https://corporate.ryanair.com/nachri...-access-costs/
Modlin down to 4 a/c
https://corporate.ryanair.com/inform...juna-lotnisku/
https://corporate.ryanair.com/nachri...-access-costs/
Modlin down to 4 a/c
https://corporate.ryanair.com/inform...juna-lotnisku/
Joined: Apr 2024
Posts: 121
Likes: 43
From: Norwich
Joined: Feb 2024
Aviation Qualifications: SLF
Posts: 523
Likes: 258
From: Aylesbury
Joined: Apr 2024
Posts: 121
Likes: 43
From: Norwich
Joined: Jan 2005
Posts: 4,992
Likes: 175
From: Not so many places currently
MOL for Irish PM
Slightly off topic but he had some valid points
https://m.independent.ie/news/ryanai...985874526.html
https://m.independent.ie/news/ryanai...985874526.html
Joined: Feb 2024
Aviation Qualifications: SLF
Posts: 523
Likes: 258
From: Aylesbury
Lauda A320 9H-LOP ferried VIE-GBA today as RYR303. Winter maintenance/storage with GCAM? Don't think they are forecast to retire any more A320s until the MAX 10s start coming online.