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08/01/2010
Ryanair Denies Third Aer Lingus Bid
The budget airline Ryanair - which flies from City of Derry and George Best Belfast City Airport - has waved off speculation it is preparing a third bid for Aer Lingus - which has a hub at Belfast International.
In a statement yesterday, updating investors on its year-to-date passenger figures, the Irish airline said there was no truth or basis to recent Irish media speculation that Ryanair was preparing a third bid for Aer Lingus.
Ryanair's Chief Executive, Michael O'Leary said: "Our position on Aer Lingus remains unchanged. A third bid is highly unlikely unless or until the Irish Government decides to dispose of its 25% stake in this loss making, increasingly marginalised, regional carrier."
The no-frills carrier said it planned to return cash to its shareholders from 2013 as it cuts capital spending by more than 90% after pulling out of talks to buy 200 aircraft from Boeing.
According to the statement, Ryanair's December traffic grew 12% to 4.9m, while annual traffic grew 13% to 65.3m for 2009.
Michael O'Leary said it expected its cash reserves of €2.5bn to grow 'substantially' by March 2013 due to the cutback in spending.
Meanwhile, Aer Lingus Group has formalised its code-share agreement with United Airlines to jointly operate scheduled service between Washington Dulles and Madrid, Spain.
The service will launch on 28 March and it is anticipated that additional routes may be made available for sale during 2010 to commence operation in Summer 2011.
(DW/GK)
In a statement yesterday, updating investors on its year-to-date passenger figures, the Irish airline said there was no truth or basis to recent Irish media speculation that Ryanair was preparing a third bid for Aer Lingus.
Ryanair's Chief Executive, Michael O'Leary said: "Our position on Aer Lingus remains unchanged. A third bid is highly unlikely unless or until the Irish Government decides to dispose of its 25% stake in this loss making, increasingly marginalised, regional carrier."
The no-frills carrier said it planned to return cash to its shareholders from 2013 as it cuts capital spending by more than 90% after pulling out of talks to buy 200 aircraft from Boeing.
According to the statement, Ryanair's December traffic grew 12% to 4.9m, while annual traffic grew 13% to 65.3m for 2009.
Michael O'Leary said it expected its cash reserves of €2.5bn to grow 'substantially' by March 2013 due to the cutback in spending.
Meanwhile, Aer Lingus Group has formalised its code-share agreement with United Airlines to jointly operate scheduled service between Washington Dulles and Madrid, Spain.
The service will launch on 28 March and it is anticipated that additional routes may be made available for sale during 2010 to commence operation in Summer 2011.
(DW/GK)
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02 June 2009
Ryanair Flies Low
The budget airline Ryanair - which flies from two bases in Northern Ireland - has revealed financial returns showing a major nosedive in operating profits. Ryanair plunged into the red by €169.2 million (£145.9m) in the year to March after being hit with a 59% hike in its fuel bill.
Ryanair Flies Low
The budget airline Ryanair - which flies from two bases in Northern Ireland - has revealed financial returns showing a major nosedive in operating profits. Ryanair plunged into the red by €169.2 million (£145.9m) in the year to March after being hit with a 59% hike in its fuel bill.
19 October 2007
Ryanair Hits Out As Aer Lingus Takes Flight
The latest news on the controversal Aer Lingus move to a Belfast operation - closing the Shannon-Heathrow route - is that its biggest rival (and ironically, its biggest shareholder), Ryanair is to provide three additional daily flights to London from Shannon Airport to ensure capacity and traffic does not fall as a result of the closure.
Ryanair Hits Out As Aer Lingus Takes Flight
The latest news on the controversal Aer Lingus move to a Belfast operation - closing the Shannon-Heathrow route - is that its biggest rival (and ironically, its biggest shareholder), Ryanair is to provide three additional daily flights to London from Shannon Airport to ensure capacity and traffic does not fall as a result of the closure.
14 August 2007
Aer Lingus Pilots Announce 48-Hour Strike
Around 500 Aer Lingus pilots have announced plans to hold a 48-hour strike next week, in protest over plans to pay staff at the company's new Belfast operation less than those in the Irish Republic. The strike is due to be held next Tuesday and Wednesday and is expected to affect all the air routes run by Aer Lingus.
Aer Lingus Pilots Announce 48-Hour Strike
Around 500 Aer Lingus pilots have announced plans to hold a 48-hour strike next week, in protest over plans to pay staff at the company's new Belfast operation less than those in the Irish Republic. The strike is due to be held next Tuesday and Wednesday and is expected to affect all the air routes run by Aer Lingus.
01 December 2008
Ryanair Flies Into Takeover Turbulence
There's a multi-million euro bid for Aer Lingus on the table today as budget airline Ryanair makes a fresh takeover offer. The all-cash offer would value Aer Lingus at €748m euros (£619m) a lot less than the previous offer for Aer Lingus, which valued it at €1.5 billion.
Ryanair Flies Into Takeover Turbulence
There's a multi-million euro bid for Aer Lingus on the table today as budget airline Ryanair makes a fresh takeover offer. The all-cash offer would value Aer Lingus at €748m euros (£619m) a lot less than the previous offer for Aer Lingus, which valued it at €1.5 billion.
16 December 2008
Revamped Ryanair Offer Shot-Down
Aer Lingus - which recently marked its first year of operation at Belfast International Airport - has rejected a fresh Ryanair take-over offer despite a revised bid from the budget airline.
Revamped Ryanair Offer Shot-Down
Aer Lingus - which recently marked its first year of operation at Belfast International Airport - has rejected a fresh Ryanair take-over offer despite a revised bid from the budget airline.
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