Ryanair leap in profits 68%

[Wee Weasley Welshman]

http://news.bbc.co.uk/1/hi/business/2175319.stm

The BBC report FRA enjoying really quite amazing profits. Good to see at least someone is making money in aviation at the moment.

WWW

[Stampe]

Enron!!!!:rolleyes:

[Tinker]

This is a very similar story apparently 'pulled' from the Yahoo financial website produced by Reuters I recall, the difference being that Ryan air were purchasing 50 aircraft and not 'three'.
I wonder what percentage of those profits came from pilots submitting CV's?
Many pilots have become disillusioned with this company but I will say, hopefully their sucsess and safety record will continue.

[411A]

Many in Europe (and the UK especially) have their collective beaks way up above ground effect and deride Ryanair...but nothing succeeds like success.
Much the same diatribe was directed at Southwest many years ago...for those old enough to remember.:rolleyes:

[R308R]

Great to see airlines making some profit again.

Ryanair has done very well. We had a chat at work today about profits and it was highlighted by someone that Ryanair uses a different method of accounting to airlines such as BA. Something along the lines that if it hires or trains staff, carriers out maintenance, starts up a route etc then it has increased the value of its assets which therefore means the company is worth more hence higher profits.

Can anyone shed any light on this. I am not into bashing any company, just not an accountant!! and find it interesting that we compare airlines by profit, but that profit may be calculated in different ways.

[FlyingIrishman]

R308R:

There was a thread about the methods of accounting used a couple of months ago. Several accountants responded and said that there are 2 methods of book keeping and both are acceptable.
The 2 methods vary slightly and hence profit and loss is calculated differently but both are ok apparently.

[RVR800]

I hope the load factors remain at 80%

Dubbyas plans for Iraq wont help and neither will stock market fall-out (20% down in 3 months)

When flying in the Manchester control zone one cant help noticing that many of the pilots do not have English as their first language
I suppose with the many unemployed pilots in Europe it makes sense to employ these type rated pilots rather than from a traditional source (pre JAR) - Its a lower cost (for the employer)

[won too goh]

Pity they do not spend some of this vast increase on providing;

a.Baggage loaders and tug drivers at STN.

b.Sufficient drinking glasses to serve pax drinks,crews were told to "borrow" glasses off other aircraft last week

c.Same story with rubbish bags

d.Have you heard what happened to the pilot who was silly enough to ask for bottled watewr when they had run out??

[FlyingIrishman]

won too goh:

Obviously you don't know what you're talking about

a) The ground handling has nothing to do with Ryanair, it is run by a company called Groundstar. If they can't manage to get enough staff, it's certainly not Ryanair's fault.

As far as b), c), and d) go, I don't know where you lot pick up these "True Stories" but they only exist in your minds.

RVR800:

Ryanair does employ many foreign pilots, among them people of Yugoslavian, Dutch and German origin particularly. I'm sure there are many pilots flying in the Manchester control zone every day whose native tongue is not English, so I don't see what the problem is. You're right however, that by recruiting these guys the airline saves a lot of money.