Ryanair warns of profits 'storm'
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Ryanair warns that higher fuel costs and a decline in the UK pound could cut into profit by as much as 50% this year.
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US airline Continental warns it could run out of money if it fails to save $500m in wage costs by the end of February.
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Ryanair Holdings PLC signaled that its expansion plans are going strong Monday, announcing that it will spend US$240 million (euro184 million) to buy four new planes and create a new base at Liverpool&#39;s John Lennon Airport.
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The low-cost airline says rising oil costs could wipe as much as 40m euros from its profits - but vows not to bring in fuel surcharges.
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Michael O&#39;Leary, the irrepressible chief executive of Ryanair, may have his detractors in Britain for the ruthless way he drives down costs at the budget airline.
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Business & money: Budget airline warns that profits could fall by up to 50% next year on the back of high oil prices
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Ryanair posted a 33 percent increase in annual net profit, helped by higher ticket prices, but it said profit growth would slow as higher interest rates prompted travelers to seek cheaper deals. Ryanair, the biggest low-cost carrier in Europe, said it expected profit growth of about 5 percent in the year ahead, with average ticket prices falling as higher borrowing costs curb consumer spending in Britain, the Irish airlineâs biggest market. Excluding one-time items, profit after taxes rose to 401.4 million euros ($540.4 million) in the 12 months that ended March 31, up from 301.5 million euros a year earlier, and better than the 393.5 million euros expected by analysts. Ryanair said its load factor fell to 80 percent in May from 82 percent a year earlier.
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Business & money: Ryanair expected to announce it will appeal against ruling.
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Many airline companies are finding it difficult to make a profit. The International Air Transport Association says it expects the industry to lose up to four thousand million dollars this year.
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Irish budget airline Ryanair has threatened to sack pilots for making dangerous approaches to airports after a series of recent incidents, according to an internal memo made public by a pilot trade union.
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Budget airline Ryanair Holdings PLC threatened to take legal action against the British government unless it meets three demands for relaxing airport security and improving staffing at overstretched airports within the next seven days.
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LONDON British Airways reported a 26 percent increase in second-quarter profit on Monday, but warned that it expected a tough winter, as fuel prices remain high, and competition stiff.
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The spat between airports operator BAA and no frills carrier Ryanair escalated yesterday as Ryanair chief executive Michael O&#39;Leary branded BAA an &quot;over-charging monopoly&quot; and BAA added another Â£7m to Ryanair&#39;s bill.
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The current weakness of the dollar against the euro poses a threat to the future of large aircraft manufacturing in Europe, the chief executive of European plane maker Airbus warned in an interview published on Wednesday.
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The advertising watchdog criticises Ryanair for playing down the environmental damage caused by airlines.
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A strike by Air France cabin staff is set to disrupt the airline's flights in Europe from Thursday to Monday, it warned.
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Air transport is a stupid business and usually loss-making, the head of Irish budget airline Ryanair was quoted as saying by a Belgian weekly on Thursday.