Growing evidence that the downturn is upon us....
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Deliveries will start in May 2009.
54 aircraft for a new airline = at least 540 new pilot jobs.
Honestly, I had expected twice as many.
The order for Etihad is huge but could have been alot more. Too many are options.
Very disappointing show until now.
On another note, let's get back to oil:
1. On one hand the US government is doing everything to make oil prices (read correctly!) increase. (Pressure on Iran, never ending war in Iraq, credit crunch caused by Fed, ever-diving dollar, etc...)
2. On the other hand, they are doing everything to promote oil drilling off the coast while they know very well that they are responsible for causing the oil prices to increase and that additional volume is not going to do any good.
Someone may be preparing his own retirement present...
54 aircraft for a new airline = at least 540 new pilot jobs.
Honestly, I had expected twice as many.
The order for Etihad is huge but could have been alot more. Too many are options.
Very disappointing show until now.
On another note, let's get back to oil:
1. On one hand the US government is doing everything to make oil prices (read correctly!) increase. (Pressure on Iran, never ending war in Iraq, credit crunch caused by Fed, ever-diving dollar, etc...)
2. On the other hand, they are doing everything to promote oil drilling off the coast while they know very well that they are responsible for causing the oil prices to increase and that additional volume is not going to do any good.
Someone may be preparing his own retirement present...
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"The financial state of the world is just about the worst I've ever known it," Branson told The Times newspaper in an interview. "It's getting perilously close to being worse than the 1990s.
"You have the perfect storm -- you've not only got the banking crisis and the housing crisis, you've got the soaring fuel prices as well. One of the big American carriers will almost definitely go."
Sounds just like WWW.
"You have the perfect storm -- you've not only got the banking crisis and the housing crisis, you've got the soaring fuel prices as well. One of the big American carriers will almost definitely go."
Sounds just like WWW.
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Heli_ports RSS feed:
Families suffer as price of groceries soars
Estate agents have lowest sales in 30 years
Sales remain flat on High Street
Boeing receives Gulf state orders
Families suffer as price of groceries soars
Spiralling food prices have pushed the cost of a family's weekly shop up by nearly Ł1,100 a year, new figures reveal.
Home sales fell to their lowest level in 30 years last month as the seizure in the mortgage market continued to drag house prices down.
The small sales growth seen in the UK High Street in May was just a start-of- summer blip, according to the British Retail Consortium (BRC). The BRC said retailers failed to hold on to the sales lift in June as tighter household budgets and fluctuating weather kept shoppers away from stores
Boeing has received a raft of orders from Gulf states eager to capitalise on money received from soaring oil prices. United Arab Emirates carrier Etihad Airways is to buy 35 mid-sized Boeing Dreamliner jets and 10 mid-sized Boeing 777s in a deal worth $9bn (Ł4.5bn).
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A few stories to note on this cold Wednesday morning:
Ghost flights' and fake passengers for crisis airlines
Spiralling fuel costs force British Airways to raise fares
BA warns the oil price will wipe out profits
'Rent now buy later' housing plan
Ghost flights' and fake passengers for crisis airlines
Britain’s third-largest airline, bmi, will fly near-empty aircraft while Flybe has advertised for actors to take its seats
The chief executive of British Airways said yesterday that fares were likely to increase by at least 4 per cent because the airline would have to spend an extra Ł1 billion on fuel this year.
Martin Broughton, the chairman of British Airways, admitted today that profits are likely to be wiped out this year as soaring fuel costs and the economic downturn pile the pressure on the UK's flagship airline.
A "rent first, buy later" scheme is heading a series of measures which the government hopes will breathe new life into the housing market.
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Ha Ha. Love the Airport Authorities response to Mick throwing the rattler out of the pram.
"
Dublin Airport Authority hit back in uncharacteristic fashion, claiming O'Leary's cutbacks were more to do with Ryanair’s own internal business than with airport costs. It confirmed that Ryanair had recently asked for support for some of its winter services “on a seemingly exclusive and non-commercial basis”.
“The DAA finds it ironic that Ryanair, the so-called champion of competition, complains publicly when its request for anti-competitive support mechanisms are justly declined,” the authority said.
It insisted its maximum airport charge is among the lowest of all big European airports and, as Europe’s eighth busiest international airport, was “not comparable to the remote former airfields to which Ryanair largely flies”.
“The combination of a sharp economic slowdown in many of its key markets, its own failure to provide hedge against historically high oil prices and its heavily loss-making investment in Aer Lingus are the key factors driving this decision to consolidate seasonal schedules and not airport charges, which are paid fully by the airline’s passengers.”
"
"
Dublin Airport Authority hit back in uncharacteristic fashion, claiming O'Leary's cutbacks were more to do with Ryanair’s own internal business than with airport costs. It confirmed that Ryanair had recently asked for support for some of its winter services “on a seemingly exclusive and non-commercial basis”.
“The DAA finds it ironic that Ryanair, the so-called champion of competition, complains publicly when its request for anti-competitive support mechanisms are justly declined,” the authority said.
It insisted its maximum airport charge is among the lowest of all big European airports and, as Europe’s eighth busiest international airport, was “not comparable to the remote former airfields to which Ryanair largely flies”.
“The combination of a sharp economic slowdown in many of its key markets, its own failure to provide hedge against historically high oil prices and its heavily loss-making investment in Aer Lingus are the key factors driving this decision to consolidate seasonal schedules and not airport charges, which are paid fully by the airline’s passengers.”
"
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FT.com:
Spanair, Spain’s second largest airline, is to cut about a quarter of its workforce and its fleet in an attempt to combat high fuel prices, fierce competition and a sharp downturn in its domestic market.
The loss-making carrier, which is owned by the Scandinavian group SAS, said on Wednesday it would shed 900 staff jobs as part of a “viability plan”. The announcement comes a month after SAS abandoned a year-long search for a buyer for its Spanish subsidiary, which last year incurred an operating loss, before one-off items, of about €30m.
Spanair, Spain’s second largest airline, is to cut about a quarter of its workforce and its fleet in an attempt to combat high fuel prices, fierce competition and a sharp downturn in its domestic market.
The loss-making carrier, which is owned by the Scandinavian group SAS, said on Wednesday it would shed 900 staff jobs as part of a “viability plan”. The announcement comes a month after SAS abandoned a year-long search for a buyer for its Spanish subsidiary, which last year incurred an operating loss, before one-off items, of about €30m.
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RYANAIR UNVEILS 14% CAPACITY REDUCTIONS AT
LONDON STANSTED THIS WINTER ('08/'09)
Ryanair, London Stansted Airport's largest airline today (Thursday 17th July,
2008) announced substantial capacity cutbacks at Stansted for its Winter
Schedule ('08/09). Ryanair, which last Winter had 36 aircraft based at Stansted,
will this Winter reduce that number to 28 aircraft (a 25% reduction), and an
approximate 14% reduction in the number of weekly flights from over 1,850 per
week last year to just under 1,600 this year. Ryanair estimates that its traffic
at London Stansted will decline this Winter by some 900,000 passengers compared
to last Winter's schedule.
Ryanair's decision to cut back capacity at Stansted is for the following
reasons:
* London Stansted is the most expensive of Ryanair's 28 bases.
* The BAAAirport monopoly has again increased airport charges by 15% this year,
on top of a 100% increase last year.
* The total failure of the inadequate CAA regulatory regime to control these
unjustified cost increases or to persuade BAA Stansted to meet the needs of its
low fare airline users.
* The fact that oil prices have risen to $140 a barrel.
Ryanair confirmed that it will lose less money this Winter by sitting these 8
aircraft on the ground, rather than flying them at an expensive airport like BAA
Stansted, during the Winter when fares are extremely low, but oil prices remain
stubbornly high. Ryanair confirmed that it had written to BAA Stansted in recent
weeks offering to operate these aircraft/flights this Winter in return for a
substantial discount on airport charges applicable to these flights for the
Winter season only. Like most monopolies, the BAA dismissed Ryanair's reasonable
requests out of hand. The BAA would rather impose high airport charges and have
fewer passengers, rather than working with airline customers to lower costs and
keep people flying during a Winter of crisis in the airline industry.
Announcing these cutbacks in London this morning, Ryanair's CEO, Michael O'Leary
said:
"These Winter Schedule cutbacks, which are significantly greater than those of
last Winter, show just how damaging the BAA Airport monopoly has become to
consumers and the best interests of London and UK tourism and the economy
generally. Like most monopolies, the BAA continues to increase costs at three
times the rate of inflation, while delivering miserable service and inadequate
facilities. Passengers continue to suffer long queues at security and passport
control and frequent baggage belt failures at Stansted because the BAA refuses
to staff or operate these facilities adequately.
"These cutbacks reaffirm the abject failure of Harry Bush and his inadequate
regulatory team in the CAA who have repeatedly failed to restrain the BAA's high
charges, price increases or to encourage them to meet the reasonable
requirements of Stansted users by developing the efficient facilities we need
and are willing to pay for.
"When a regulated monopoly makes it more profitable for airlines to sit aircraft
on the ground rather than fly them through the winter, then obviously the CAA's
laughable regulatory regime has failed. The BAA Stansted's rejection of Ryanair
discount plan for this Winter proves yet again why the BAA monopoly should be
broken up and replaced with three competing London airports whose primary focus
will be on stimulating traffic and developing low cost efficient facilities,
which their customer airlines want and are willing to pay for.
"We hope that the Competition Commission report will in due course support
Ryanair's call for the break up of the high cost BAA monopoly, and replace the
inadequate and failed CAA regulatory regime with competing airports and better
still competing terminals at the main London airports. Monopoly airports and
the CAA's regulatory regime have delivered high prices and awful facilities. It
is time we allowed competition to deliver where monopolies have failed".
An example of these cutbacks is set out below:
LONDON STANSTED WINTER '08/'09 CUTBACKS
Winter '07/'08 Winter '08/'09
Base Aircraft 36 28 (-22%)
Weekly Flights 1,860 1,590 (-14%)
Samples: Dublin 58 50 (-14%)
Glasgow 29 20 (-31%)
Rome CIA 35 28 (-20%)
In addition Ryanair is also announcing 6 new routes this Winter from Stansted to
Winter sun destinations including: Fuerteventura (Canaries), Ibiza, Tenerife,
Malaga, as well as Katowice (Poland) and Basel in Switzerland. These new routes
are included in the above schedule, as part of the overall capacity reduction.
Destination Weekly Frequency Start Date
Malaga 3 28th Oct'08
Fuerteventura 3 28th Oct'08
Tenerife South 3 28th Oct'08
Ibiza 3 28th Oct'08
Katowice 7 27th Oct'08
Basel 3 21st Dec'08
Ends. Thursday, 17th July 2008
For further information
please contact: Stephen McNamara Pauline McAlester
Ryanair Ltd Murray Consultants
Tel: +353-1-8121212 Tel. +353-1-4980300
This information is provided by RNS
The company news service from the London Stock Exchange
LONDON STANSTED THIS WINTER ('08/'09)
Ryanair, London Stansted Airport's largest airline today (Thursday 17th July,
2008) announced substantial capacity cutbacks at Stansted for its Winter
Schedule ('08/09). Ryanair, which last Winter had 36 aircraft based at Stansted,
will this Winter reduce that number to 28 aircraft (a 25% reduction), and an
approximate 14% reduction in the number of weekly flights from over 1,850 per
week last year to just under 1,600 this year. Ryanair estimates that its traffic
at London Stansted will decline this Winter by some 900,000 passengers compared
to last Winter's schedule.
Ryanair's decision to cut back capacity at Stansted is for the following
reasons:
* London Stansted is the most expensive of Ryanair's 28 bases.
* The BAAAirport monopoly has again increased airport charges by 15% this year,
on top of a 100% increase last year.
* The total failure of the inadequate CAA regulatory regime to control these
unjustified cost increases or to persuade BAA Stansted to meet the needs of its
low fare airline users.
* The fact that oil prices have risen to $140 a barrel.
Ryanair confirmed that it will lose less money this Winter by sitting these 8
aircraft on the ground, rather than flying them at an expensive airport like BAA
Stansted, during the Winter when fares are extremely low, but oil prices remain
stubbornly high. Ryanair confirmed that it had written to BAA Stansted in recent
weeks offering to operate these aircraft/flights this Winter in return for a
substantial discount on airport charges applicable to these flights for the
Winter season only. Like most monopolies, the BAA dismissed Ryanair's reasonable
requests out of hand. The BAA would rather impose high airport charges and have
fewer passengers, rather than working with airline customers to lower costs and
keep people flying during a Winter of crisis in the airline industry.
Announcing these cutbacks in London this morning, Ryanair's CEO, Michael O'Leary
said:
"These Winter Schedule cutbacks, which are significantly greater than those of
last Winter, show just how damaging the BAA Airport monopoly has become to
consumers and the best interests of London and UK tourism and the economy
generally. Like most monopolies, the BAA continues to increase costs at three
times the rate of inflation, while delivering miserable service and inadequate
facilities. Passengers continue to suffer long queues at security and passport
control and frequent baggage belt failures at Stansted because the BAA refuses
to staff or operate these facilities adequately.
"These cutbacks reaffirm the abject failure of Harry Bush and his inadequate
regulatory team in the CAA who have repeatedly failed to restrain the BAA's high
charges, price increases or to encourage them to meet the reasonable
requirements of Stansted users by developing the efficient facilities we need
and are willing to pay for.
"When a regulated monopoly makes it more profitable for airlines to sit aircraft
on the ground rather than fly them through the winter, then obviously the CAA's
laughable regulatory regime has failed. The BAA Stansted's rejection of Ryanair
discount plan for this Winter proves yet again why the BAA monopoly should be
broken up and replaced with three competing London airports whose primary focus
will be on stimulating traffic and developing low cost efficient facilities,
which their customer airlines want and are willing to pay for.
"We hope that the Competition Commission report will in due course support
Ryanair's call for the break up of the high cost BAA monopoly, and replace the
inadequate and failed CAA regulatory regime with competing airports and better
still competing terminals at the main London airports. Monopoly airports and
the CAA's regulatory regime have delivered high prices and awful facilities. It
is time we allowed competition to deliver where monopolies have failed".
An example of these cutbacks is set out below:
LONDON STANSTED WINTER '08/'09 CUTBACKS
Winter '07/'08 Winter '08/'09
Base Aircraft 36 28 (-22%)
Weekly Flights 1,860 1,590 (-14%)
Samples: Dublin 58 50 (-14%)
Glasgow 29 20 (-31%)
Rome CIA 35 28 (-20%)
In addition Ryanair is also announcing 6 new routes this Winter from Stansted to
Winter sun destinations including: Fuerteventura (Canaries), Ibiza, Tenerife,
Malaga, as well as Katowice (Poland) and Basel in Switzerland. These new routes
are included in the above schedule, as part of the overall capacity reduction.
Destination Weekly Frequency Start Date
Malaga 3 28th Oct'08
Fuerteventura 3 28th Oct'08
Tenerife South 3 28th Oct'08
Ibiza 3 28th Oct'08
Katowice 7 27th Oct'08
Basel 3 21st Dec'08
Ends. Thursday, 17th July 2008
For further information
please contact: Stephen McNamara Pauline McAlester
Ryanair Ltd Murray Consultants
Tel: +353-1-8121212 Tel. +353-1-4980300
This information is provided by RNS
The company news service from the London Stock Exchange
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I just love all of MOL's posturing. He is bleating on about high costs forced upon him etc etc. Perhaps the underlying reason is that people have cottoned onto the fact that he isn't that cheap afterall when you add in all the extras and it isn't exactly one of lifes most pleasant experiences travelling on his flights.
Its been a vicious circle for him. In the early days he was able to extract some amazingly cheap deals from airports which in essence inflated his profits compared to the existing carriers. Now those very airports that he said publicly that he ripped off have grown from strength to strength on the basis of the pax that MOL brought them and they are now at the point of being able to give MOL two fingers back. Brilliant.
Its been a vicious circle for him. In the early days he was able to extract some amazingly cheap deals from airports which in essence inflated his profits compared to the existing carriers. Now those very airports that he said publicly that he ripped off have grown from strength to strength on the basis of the pax that MOL brought them and they are now at the point of being able to give MOL two fingers back. Brilliant.
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very very sad news just read this
High-speed trains seize short-haul market as fuel cost cripples the airlines - Times Online
High-speed trains seize short-haul market as fuel cost cripples the airlines - Times Online
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Guardian news
"The soaring oil price will drive "weaker" rivals out of business, easyJet claimed this morning, despite seeing its own losses treble over the last six months.
With oil hitting a new record of $122 a barrel yesterday, and Goldman Sachs forecasting it could hit $200 a barrel this year, easyJet predicted carnage in the airline industry.
"If the oil price stays high we will see a number of weaker airlines disappear over the next 12 to 24 months," chief executive Andrew Harrison predicted."
Any guesses which airlines will disappear then?
With oil hitting a new record of $122 a barrel yesterday, and Goldman Sachs forecasting it could hit $200 a barrel this year, easyJet predicted carnage in the airline industry.
"If the oil price stays high we will see a number of weaker airlines disappear over the next 12 to 24 months," chief executive Andrew Harrison predicted."
Any guesses which airlines will disappear then?
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The start of aircraft order deferrals?
http://www.pprune.org/forums/rumours...ml#post4281389
ref the high-speed trains - solves many of the runway capacity issues, emits far fewer greenhouse gases, and faster these days to many city centres. Inevitable.
http://www.pprune.org/forums/rumours...ml#post4281389
ref the high-speed trains - solves many of the runway capacity issues, emits far fewer greenhouse gases, and faster these days to many city centres. Inevitable.
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Oil price
$120 a barrel and falling with some forcasting that it will be at $ 90 by 2009.
It looks like it was all speculation and media hype but no doubt WWW can put a gloomy slant on this.
It looks like it was all speculation and media hype but no doubt WWW can put a gloomy slant on this.
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yes, it was all speculation
great news, so there is no recession at all, airline tickets have never been cheaper, aircrafts engines are emission free, airlines are enlarging their fleets as we speak, taxes are going down, BAA is reducing airport fees and everything is perfect.
Its never been a better time to become airline pilot.
All these airline CEOs and finance specialists prediciting gloom are bloody useless and should be completely ignored.
Its never been a better time to become airline pilot.
All these airline CEOs and finance specialists prediciting gloom are bloody useless and should be completely ignored.