sheikmyarse
2nd Feb 2010, 07:43
For those of you thinking of coming back to civilization an interesting article. No future for aviation in Europe. Better convert your airline transport pilot licence with a train one.
On the other end the very fact that you are in the ME proves that you sold your soul. We all know hell is ethernal so hold on while the camel fokkers devils, well knowing what is going on,push it deeper.
Hopefully sweat should provide some sort of lubrication.....at least.
Enjoy!!!
"Market conditions remain difficult, although the increasing pace of consolidation and closures among our competitors--allied to Ryanair's continuing fleet expansion--will lead to further market share gains this year in particular in Italy, Scandinavia, Spain, and the U.K.," said Chief Executive Michael O'Leary.
The company expects fourth-quarter yields to be down 7% to 10%. Deputy CEO and Chief Financial Officer Howard Millar told Dow Jones Newswires it was too difficult to predict the all-important yield figure after the next 60 days. " Beyond that it's in the lap of the gods," he said.
The new full-year guidance implies a net loss approaching EUR100 million in the fourth quarter due to higher fuel costs and a fall in yield, he added.
"The performance over the winter is a bit better than expected," Millar said. "In terms of the recession being over, not in Ireland or indeed across Europe ... We have to get rid of more competition in the market."
Non-fuel unit costs fell in the quarter by 4%. He said unit costs will fall in the fourth quarter, but the airline has recently launched more routes with longer distances to destinations like the Canary Islands.
"Capacity is still being cut back across the industry," Millar said, but Ryanair expects to grow passengers by 10% to 73 million passengers for fiscal 2011.
Summer bookings are running in line with expectations, Millar added. "We might be fractionally ahead of last year. We're happy with the level of summer bookings."
Ryanair recently extended its hedging for fiscal 2011 with 90% of the first three quarters and 25% of the fourth now hedged at $720 per ton.
Ryanair had over EUR1.01 billion in cash and cash equivalents at end-December against EUR1.41 billion in the year-earlier period. It expects to generate up to EUR1 billion of surplus cash by the end of 2013, "which would be available to return to shareholders," it said.
O'Leary said ancillary revenue grew 5.8% to EUR139.4 million in the third quarter. Ryanair also posted a 1% rise in third-quarter revenue to EUR612 million and an adjusted basic loss per share of 0.74 cents versus 6.88 cents a year ago.
Ryanair competitors like EasyJet PLC (http://quote.morningstar.com/switch.html?ticker=XLON:EZJ) (EZJ.LN) and Aer Lingus Group PLC ( EIL1.DB) are also trying to slash costs, increasing their focus on more- profitable routes and raising as much ancillary revenue as possible through baggage check-in charges, charges for changing flying times on tickets and on- board snacks and beverages.
For its part, Ryanair has mentioned everything from on-flight mobile phones to charging customers to use the toilets--but most observers believe the latter to be one of Ryanair's more successful publicity stunts.
In recent months, several airlines have gone under, including Germany's Blue Wings, the U.K.'s Flyglobespan, Slovakia's Sky Europe & Seagle Air, and Italy's My Air.
"We expect further casualties this winter," O'Leary said. "We are increasing market share particularly where we compete with the big three high-fare flag carrier groups" led by Air France-KLM (AF.FR), British Airways PLC (http://quote.morningstar.com/switch.html?ticker=XLON:BAY) (BAY.LN) and Deutsche Lufthansa AG (LHA.XE).
Ryanair confirmed last December that it was terminating discussions with Boeing Co. (http://quote.morningstar.com/switch.html?ticker=XNYS:BA) (BA) for an order of up to 200 aircraft. O'Leary said, "Although we had agreed pricing and delivery dates between 2013 and 2016, Boeing regrettably insisted on changing our delivery terms and conditions which were not acceptable to Ryanair."
"We have no plan to reopen these discussions," O'Leary added, unless they were on "materially improved terms."
It will instead proceed with its confirmed 112 aircraft deliveries up to the end of 2012, which the company said will allow it to grow traffic to around 85 million passengers.
Gross capital expenditure will fall annually from EUR1.2 billion in fiscal 2010 to around EUR100 million by fiscal 2014.
At 1130 GMT Monday, Ryanair stock traded up 5.7% at EUR3.54, up from EUR3.03 this time last year. The ISEQ Overall Index was up 0.2% at 2,983.5.
Davy Research said it continues to expect 2010 summer yields to make up for a lot of the lost ground from the 17% decline in summer 2009. It has an outperform rating on the stock.
"The gradual reduction in yield decline, which is better than expected, is a positive sign--particularly for the summer," said Davy analyst Stephen Furlong. "Assuming modest yield inversion next summer would suggest full-year 2011 net profit of EUR300 million with margins temporarily held back by 15%-plus increase in unit fuel costs."
But Merrion Capital said the main focus will turn to whether yields can rise enough in fiscal 2011 to offset the likely increase in fuel costs next year. It has a hold recommendation on the stock. "
-By Quentin Fottrell, Dow Jones Newswires; +353-1-676-2189; quentin.fottrell@ dowjones.com
On the other end the very fact that you are in the ME proves that you sold your soul. We all know hell is ethernal so hold on while the camel fokkers devils, well knowing what is going on,push it deeper.
Hopefully sweat should provide some sort of lubrication.....at least.
Enjoy!!!
"Market conditions remain difficult, although the increasing pace of consolidation and closures among our competitors--allied to Ryanair's continuing fleet expansion--will lead to further market share gains this year in particular in Italy, Scandinavia, Spain, and the U.K.," said Chief Executive Michael O'Leary.
The company expects fourth-quarter yields to be down 7% to 10%. Deputy CEO and Chief Financial Officer Howard Millar told Dow Jones Newswires it was too difficult to predict the all-important yield figure after the next 60 days. " Beyond that it's in the lap of the gods," he said.
The new full-year guidance implies a net loss approaching EUR100 million in the fourth quarter due to higher fuel costs and a fall in yield, he added.
"The performance over the winter is a bit better than expected," Millar said. "In terms of the recession being over, not in Ireland or indeed across Europe ... We have to get rid of more competition in the market."
Non-fuel unit costs fell in the quarter by 4%. He said unit costs will fall in the fourth quarter, but the airline has recently launched more routes with longer distances to destinations like the Canary Islands.
"Capacity is still being cut back across the industry," Millar said, but Ryanair expects to grow passengers by 10% to 73 million passengers for fiscal 2011.
Summer bookings are running in line with expectations, Millar added. "We might be fractionally ahead of last year. We're happy with the level of summer bookings."
Ryanair recently extended its hedging for fiscal 2011 with 90% of the first three quarters and 25% of the fourth now hedged at $720 per ton.
Ryanair had over EUR1.01 billion in cash and cash equivalents at end-December against EUR1.41 billion in the year-earlier period. It expects to generate up to EUR1 billion of surplus cash by the end of 2013, "which would be available to return to shareholders," it said.
O'Leary said ancillary revenue grew 5.8% to EUR139.4 million in the third quarter. Ryanair also posted a 1% rise in third-quarter revenue to EUR612 million and an adjusted basic loss per share of 0.74 cents versus 6.88 cents a year ago.
Ryanair competitors like EasyJet PLC (http://quote.morningstar.com/switch.html?ticker=XLON:EZJ) (EZJ.LN) and Aer Lingus Group PLC ( EIL1.DB) are also trying to slash costs, increasing their focus on more- profitable routes and raising as much ancillary revenue as possible through baggage check-in charges, charges for changing flying times on tickets and on- board snacks and beverages.
For its part, Ryanair has mentioned everything from on-flight mobile phones to charging customers to use the toilets--but most observers believe the latter to be one of Ryanair's more successful publicity stunts.
In recent months, several airlines have gone under, including Germany's Blue Wings, the U.K.'s Flyglobespan, Slovakia's Sky Europe & Seagle Air, and Italy's My Air.
"We expect further casualties this winter," O'Leary said. "We are increasing market share particularly where we compete with the big three high-fare flag carrier groups" led by Air France-KLM (AF.FR), British Airways PLC (http://quote.morningstar.com/switch.html?ticker=XLON:BAY) (BAY.LN) and Deutsche Lufthansa AG (LHA.XE).
Ryanair confirmed last December that it was terminating discussions with Boeing Co. (http://quote.morningstar.com/switch.html?ticker=XNYS:BA) (BA) for an order of up to 200 aircraft. O'Leary said, "Although we had agreed pricing and delivery dates between 2013 and 2016, Boeing regrettably insisted on changing our delivery terms and conditions which were not acceptable to Ryanair."
"We have no plan to reopen these discussions," O'Leary added, unless they were on "materially improved terms."
It will instead proceed with its confirmed 112 aircraft deliveries up to the end of 2012, which the company said will allow it to grow traffic to around 85 million passengers.
Gross capital expenditure will fall annually from EUR1.2 billion in fiscal 2010 to around EUR100 million by fiscal 2014.
At 1130 GMT Monday, Ryanair stock traded up 5.7% at EUR3.54, up from EUR3.03 this time last year. The ISEQ Overall Index was up 0.2% at 2,983.5.
Davy Research said it continues to expect 2010 summer yields to make up for a lot of the lost ground from the 17% decline in summer 2009. It has an outperform rating on the stock.
"The gradual reduction in yield decline, which is better than expected, is a positive sign--particularly for the summer," said Davy analyst Stephen Furlong. "Assuming modest yield inversion next summer would suggest full-year 2011 net profit of EUR300 million with margins temporarily held back by 15%-plus increase in unit fuel costs."
But Merrion Capital said the main focus will turn to whether yields can rise enough in fiscal 2011 to offset the likely increase in fuel costs next year. It has a hold recommendation on the stock. "
-By Quentin Fottrell, Dow Jones Newswires; +353-1-676-2189; quentin.fottrell@ dowjones.com