Public ‘against’ Aer Lingus takeover
"Two-thirds of the Irish public are against the proposed takeover of Aer Lingus by Ryanair, according to a survey commissioned by the former state airline. The survey of more than 1,000 people by research firm TNS-MRBI found that only one in four people were in favour of the proposed takeover. Aer Lingus management last week formally rejected a €748 million bid by Ryanair, which already owns 29 per cent of the airline. The government has a 25 per cent stake in Aer Lingus. When asked if a Ryanair monopoly would be good for consumers,65 per cent of those surveyed said it would not be a positive move. Almost half believed a Ryanair monopoly would result in increased fares and just 15 per cent believed that fares would decrease."
Monday, December 29, 2008
Barrington claims Ryanair chairman is linked to fund with 2% stake in Aer Lingus
"Colm Barrington, chairman of Aer Lingus, said he believes an investment fund linked to Texas Pacific Group, the investment vehicle of David Bonderman, chairman of Ryanair, has bought a 2 per cent stake in the former state airline. Barrington made a reference to the fund while giving evidence at an Oireachtas committee hearing earlier this month. The Aer Lingus chairman did not name the fund but said that its representatives had stated publicly that ‘‘we should consider the offer [from Ryanair]". Last week, Aer Lingus published its defence document to the €1.40 per share offer for the company from Ryanair."
Source: Sunday Business Post
"Colm Barrington, chairman of Aer Lingus, said he believes an investment fund linked to Texas Pacific Group, the investment vehicle of David Bonderman, chairman of Ryanair, has bought a 2 per cent stake in the former state airline. Barrington made a reference to the fund while giving evidence at an Oireachtas committee hearing earlier this month. The Aer Lingus chairman did not name the fund but said that its representatives had stated publicly that ‘‘we should consider the offer [from Ryanair]". Last week, Aer Lingus published its defence document to the €1.40 per share offer for the company from Ryanair."
Source: Sunday Business Post
Virgin, Easyjet Not In Position To Bid For Gatwick
"A consortium led by Virgin Atlantic and easyJet PLC isn't in a position to bid for Gatwick Airport, The Times reports Saturday, citing people familiar with the deal. According to the report, the only two bidders likely to continue on the GBP2 billion race for the airport are German Hochtief AirPort and a Citibank-led consortium called Citigate. Both Virgin Atlantic and easyJet are now trying to make an alliance with other bidders, the newspaper says."
Source: Dow Jones International News
"A consortium led by Virgin Atlantic and easyJet PLC isn't in a position to bid for Gatwick Airport, The Times reports Saturday, citing people familiar with the deal. According to the report, the only two bidders likely to continue on the GBP2 billion race for the airport are German Hochtief AirPort and a Citibank-led consortium called Citigate. Both Virgin Atlantic and easyJet are now trying to make an alliance with other bidders, the newspaper says."
Source: Dow Jones International News
Aircraft traffic falls sharply at Cork and Shannon
"Aircraft traffic at Cork and Shannon airports has suffered a double-digit decline so far in 2008, according to figures from the Irish Aviation Authority. Aircraft movements at Cork for the first 11 months of the year recorded a 13.5% decrease to 57,883, while total movements at Shannon are down to 39,413 — a drop of 12.2%. Both airports recorded a decline in traffic for all but one month of the year. (...) A spokesperson said the aviation authority’s business would be "severely challenged" through 2009. It has proposed a number of measures to keep staff and overhead costs under control including a 12-month pay freeze for all staff. Meanwhile, Ryanair has emerged as the most expensive airline for in-flight drinks and snacks in a survey of low-cost carriers. British consumer magazine, Which? Holiday, showed that some no-frills airlines charge around 50% of the cost of a ticket for a basic meal. Ryanair charged £16.05 (€16.65) for the items, making it the dearest of five budget airlines included in the survey by a long distance. The second most expensive carrier, FlyBe, charged £11.95 (€12.50) for the same items. The cheapest was Bmibaby which charged £10.50 (€11), followed by Monarch, £10.60 (€11.10), and EasyJet, £11.50 (€12)."
Source: The Irish Examiner
"Aircraft traffic at Cork and Shannon airports has suffered a double-digit decline so far in 2008, according to figures from the Irish Aviation Authority. Aircraft movements at Cork for the first 11 months of the year recorded a 13.5% decrease to 57,883, while total movements at Shannon are down to 39,413 — a drop of 12.2%. Both airports recorded a decline in traffic for all but one month of the year. (...) A spokesperson said the aviation authority’s business would be "severely challenged" through 2009. It has proposed a number of measures to keep staff and overhead costs under control including a 12-month pay freeze for all staff. Meanwhile, Ryanair has emerged as the most expensive airline for in-flight drinks and snacks in a survey of low-cost carriers. British consumer magazine, Which? Holiday, showed that some no-frills airlines charge around 50% of the cost of a ticket for a basic meal. Ryanair charged £16.05 (€16.65) for the items, making it the dearest of five budget airlines included in the survey by a long distance. The second most expensive carrier, FlyBe, charged £11.95 (€12.50) for the same items. The cheapest was Bmibaby which charged £10.50 (€11), followed by Monarch, £10.60 (€11.10), and EasyJet, £11.50 (€12)."
Source: The Irish Examiner
Friday, December 26, 2008
Price not right on no frills
"A sandwich, small tub of Pringles, bottle of sparkling water, cup of coffee and a small bottle of red wine can add as much as pounds 16.05 to the price of a single ticket. Which? Holiday found Ryanair most expensive, charging passengers pounds 16.05 for the five items. Its sandwiches are priced at pounds 4.20, while a bottle of sparkling water cost pounds 2.50 and passengers can expect to pay pounds 2.50 for a coffee. Flybe was the second most expensive, charging pounds 11.95 for the five items, while BMIbaby was cheapest at pounds 10.50, charging only 80p for a bottle of sparkling water and pounds 1.80 for a coffee."
Source: Birmingham Mail
"A sandwich, small tub of Pringles, bottle of sparkling water, cup of coffee and a small bottle of red wine can add as much as pounds 16.05 to the price of a single ticket. Which? Holiday found Ryanair most expensive, charging passengers pounds 16.05 for the five items. Its sandwiches are priced at pounds 4.20, while a bottle of sparkling water cost pounds 2.50 and passengers can expect to pay pounds 2.50 for a coffee. Flybe was the second most expensive, charging pounds 11.95 for the five items, while BMIbaby was cheapest at pounds 10.50, charging only 80p for a bottle of sparkling water and pounds 1.80 for a coffee."
Source: Birmingham Mail
Tuesday, December 23, 2008
The Budget Airlines That Really Cost if You're Hungry
"Budget airline customers who decide to buy a few frills - such as food and drink - are being stung for huge sums, researchers say. Experts at Which? found some items cost 635 per cent more than an equivalent product from a supermarket. Buying just a few things to make the flight a little more comfortable can cost almost half as much as the ticket itself. Five commonly bought items - a sandwich, a small tub of Pringles, a bottle of sparkling water, a cup of coffee and a small bottle of red wine - can cost more than £16. Which? Holiday magazine found Ryanair to be the most expensive, charging passengers £16.05 for the five items."
Source: Daily Mail
"Budget airline customers who decide to buy a few frills - such as food and drink - are being stung for huge sums, researchers say. Experts at Which? found some items cost 635 per cent more than an equivalent product from a supermarket. Buying just a few things to make the flight a little more comfortable can cost almost half as much as the ticket itself. Five commonly bought items - a sandwich, a small tub of Pringles, a bottle of sparkling water, a cup of coffee and a small bottle of red wine - can cost more than £16. Which? Holiday magazine found Ryanair to be the most expensive, charging passengers £16.05 for the five items."
Source: Daily Mail
Aer Lingus denounces Ryanair 'rip-off'
"Aer Lingus, the Irish airline, has urged shareholders to reject the "rip-off'' takeover offer from rival Ryanair in a fiery letter to shareholders. The Irish flag-carrier said it would achieve a profit overall in 2008, despite forecasting operating losses of euro20m ( pounds 18.8m) in November, and told shareholders to "ignore Ryanair's threats, contradictions and insinuations''."
Source: The Daily Telegraph
"Aer Lingus, the Irish airline, has urged shareholders to reject the "rip-off'' takeover offer from rival Ryanair in a fiery letter to shareholders. The Irish flag-carrier said it would achieve a profit overall in 2008, despite forecasting operating losses of euro20m ( pounds 18.8m) in November, and told shareholders to "ignore Ryanair's threats, contradictions and insinuations''."
Source: The Daily Telegraph
Monday, December 22, 2008
Aer Lingus tells shareholders to snub Ryanair
"Aer Lingus appealed Monday to shareholders to snub Ryanair's takeover bid, calling the move by its Irish rival a deceitful rip-off. Chairman Colm Barrington formally asked shareholders to ignore Ryanair letters seeking their stock for ?1.40 ($1.95) a share. "Do not let this rip-off happen," he wrote in a letter to shareholders. Aer Lingus' No. 1 shareholder - Ryanair - declined to comment. Its Dec. 1 bid was 25 percent higher than the Aer Lingus share price at the time. Aer Lingus stock rapidly rose and has remained above Ryanair's bid price on expectations of an improved offer."
Source: Associated Press
"Aer Lingus appealed Monday to shareholders to snub Ryanair's takeover bid, calling the move by its Irish rival a deceitful rip-off. Chairman Colm Barrington formally asked shareholders to ignore Ryanair letters seeking their stock for ?1.40 ($1.95) a share. "Do not let this rip-off happen," he wrote in a letter to shareholders. Aer Lingus' No. 1 shareholder - Ryanair - declined to comment. Its Dec. 1 bid was 25 percent higher than the Aer Lingus share price at the time. Aer Lingus stock rapidly rose and has remained above Ryanair's bid price on expectations of an improved offer."
Source: Associated Press
airBaltic management plans to buy out SAS shares
"Management at the Latvian national airline airBaltic have decided to buy out shares in the airline that are currently owned by SAS AB. The president and CEO of airBaltic, Bertolt Flick: 'Even in this difficult economic climate, the management believes in the company's future and has decided to buy the shares which currently belong to SAS AB.'"
"Management at the Latvian national airline airBaltic have decided to buy out shares in the airline that are currently owned by SAS AB. The president and CEO of airBaltic, Bertolt Flick: 'Even in this difficult economic climate, the management believes in the company's future and has decided to buy the shares which currently belong to SAS AB.'"
O’Leary’s free market falls to earth
"The comments by Ryanair’s Michael O’Leary on the Lisbon Treaty, and in particular his comments in relation to Sinn Féin and his claim that the party are a “bunch of economic illiterates”, made me laugh. Sadly, if we weren’t in the middle of a national, regional and global economic crisis some people might even have been tempted to take him seriously. The unfortunate reality is that the recession and credit crisis have been brought about by ‘free market’ economic policies promoted by the likes of Mr O’Leary and the other so-called captains of industry at home and abroad."
"The comments by Ryanair’s Michael O’Leary on the Lisbon Treaty, and in particular his comments in relation to Sinn Féin and his claim that the party are a “bunch of economic illiterates”, made me laugh. Sadly, if we weren’t in the middle of a national, regional and global economic crisis some people might even have been tempted to take him seriously. The unfortunate reality is that the recession and credit crisis have been brought about by ‘free market’ economic policies promoted by the likes of Mr O’Leary and the other so-called captains of industry at home and abroad."
Ryanair 'surprised' by council flight fears
"Budget airline Ryanair has said it is 'surprised' by comments from Derry City Council that it is expecting a further six flights to be withdrawn from City of Derry Airport. Earlier this week, Derry City Council which owns the arirport, confirmed that six flights on the Stansted route had been axed since the end of October and added that a further six flights are expected to be lost on the Liverpool and Prestwick routes in the near future. A council spokesperson said the losses are as a result of global economic condition."
"Budget airline Ryanair has said it is 'surprised' by comments from Derry City Council that it is expecting a further six flights to be withdrawn from City of Derry Airport. Earlier this week, Derry City Council which owns the arirport, confirmed that six flights on the Stansted route had been axed since the end of October and added that a further six flights are expected to be lost on the Liverpool and Prestwick routes in the near future. A council spokesperson said the losses are as a result of global economic condition."
Ryanair cuts routes over €3 airport charge
"The administration at Frankfurt Hahn airport wants to introduce a €3 terminal charge. But last week Ryanair threatened that if this materialises, demand would collapse as, quoting Ryanair, passengers who choose to use Hahn airport were surely not willing to pay these three euros and consequently they would cut back routes. Later on in the week, Ryanair announced that it will partly shut down the base at Hahn, saying they will remove several aircraft as they claim that with €3 more on the price of the ticket, demand will collapse. A few days ago Ryanair also announced a cutback of many routes to/from Budapest, blaming a marginal airport fee."
"The administration at Frankfurt Hahn airport wants to introduce a €3 terminal charge. But last week Ryanair threatened that if this materialises, demand would collapse as, quoting Ryanair, passengers who choose to use Hahn airport were surely not willing to pay these three euros and consequently they would cut back routes. Later on in the week, Ryanair announced that it will partly shut down the base at Hahn, saying they will remove several aircraft as they claim that with €3 more on the price of the ticket, demand will collapse. A few days ago Ryanair also announced a cutback of many routes to/from Budapest, blaming a marginal airport fee."
Obituary of Loucas Haji-Ioannou Shipping entrepreneur who prospered during the Iran-Iraq war and helped his son to launch easyJet
"Loucas Haji-Ioannou, who died in Athens on December 17 aged 81, was one of the last of the Greek shipping entrepreneurs whose privately owned fleets dominated the global shipping industry for most of the second half of the 20th century. Niarchos and Onassis may have led more glamorous lives, but Haji-Ioannou owned more tonnage."
Source: The Daily Telegraph
"Loucas Haji-Ioannou, who died in Athens on December 17 aged 81, was one of the last of the Greek shipping entrepreneurs whose privately owned fleets dominated the global shipping industry for most of the second half of the 20th century. Niarchos and Onassis may have led more glamorous lives, but Haji-Ioannou owned more tonnage."
Source: The Daily Telegraph
Etihad interested in Air Berlin stake
"Abu Dhabi's Etihad Airways is actively considering taking a stake in Air Berlin, Germany's Sueddeutsche Zeitung reported on Friday, citing unidentified sources. "Top managers at Etihad have been studying this plan intensively for weeks but have not come to a decision yet, according to industry sources," the paper said, adding that Etihad's supervisory board had also not addressed the issue."
Source: AFX Asia
"Abu Dhabi's Etihad Airways is actively considering taking a stake in Air Berlin, Germany's Sueddeutsche Zeitung reported on Friday, citing unidentified sources. "Top managers at Etihad have been studying this plan intensively for weeks but have not come to a decision yet, according to industry sources," the paper said, adding that Etihad's supervisory board had also not addressed the issue."
Source: AFX Asia
Aer Lingus plans vigorous defence against Ryanair bid
"Aer Lingus will reject the €748 million takeover bid from Ryanair this week with a defence document showing it expects to make a small profit in 2009. That would represent a major turnaround from predicted losses of up to €100 million before Aer Lingus agreed a controversial cost-cutting plan with staff. The airline’s defence document, to be launched in Dublin and London, will formally reject the Ryanair offer and defend its commercial viability following the major cost efficiency drive."
"Aer Lingus will reject the €748 million takeover bid from Ryanair this week with a defence document showing it expects to make a small profit in 2009. That would represent a major turnaround from predicted losses of up to €100 million before Aer Lingus agreed a controversial cost-cutting plan with staff. The airline’s defence document, to be launched in Dublin and London, will formally reject the Ryanair offer and defend its commercial viability following the major cost efficiency drive."
Clickair allows pets on planes
"The Spanish no-frills airline Clickair has become the first European carrier to allow pets in the cabin on domestic and international flights. From July 2009, and subject to local regulations, dogs, cats and rabbits (and possibly chickens) weighing no more than 17lb “may travel in a suitable crate placed at the feet of their owners”. Fees will be £19 for flights within Spain and £33 for international flights, bookable at www.clickair.com . Or should that be Cluckair?"
"The Spanish no-frills airline Clickair has become the first European carrier to allow pets in the cabin on domestic and international flights. From July 2009, and subject to local regulations, dogs, cats and rabbits (and possibly chickens) weighing no more than 17lb “may travel in a suitable crate placed at the feet of their owners”. Fees will be £19 for flights within Spain and £33 for international flights, bookable at www.clickair.com . Or should that be Cluckair?"
Pearson to battle Ryanair in outright bid for Aer Lingus
"Irish businessman Stuart Pearson is to launch an outright bid for Aer Lingus next week in an audacious move backed by a war chest of between €1.5bn and €2bn. The Irish Independent understands that bid will significantly trump Ryanair's current €748m offer for the flag carrier, possibly by a double-digit percentage margin. That could see Aer Lingus valued at anywhere between €830m and €900m, or even higher."
"Irish businessman Stuart Pearson is to launch an outright bid for Aer Lingus next week in an audacious move backed by a war chest of between €1.5bn and €2bn. The Irish Independent understands that bid will significantly trump Ryanair's current €748m offer for the flag carrier, possibly by a double-digit percentage margin. That could see Aer Lingus valued at anywhere between €830m and €900m, or even higher."
Friday, December 19, 2008
O'Leary casts doubt on third bid for carrier
"Ryanair boss Michael O'Leary may not table another bid for Aer Lingus, if his current attempt to buy the flag carrier for €748m is unsuccessful. Addressing a joint Oireachtas transport committee hearing yesterday, Mr O'Leary said there was no guarantee a third bid would be forthcoming."
Source: Irish Independent
"Ryanair boss Michael O'Leary may not table another bid for Aer Lingus, if his current attempt to buy the flag carrier for €748m is unsuccessful. Addressing a joint Oireachtas transport committee hearing yesterday, Mr O'Leary said there was no guarantee a third bid would be forthcoming."
Source: Irish Independent
Aer Lingus sets up in Gatwick
"Irish carrier Aer Lingus opened a new base at London's Gatwick airport on Friday and rejected criticism from Ryanair about its business forecasts in an increasingly hostile takeover battle. Aer Lingus Chief Executive Dermot Mannion told reporters he completely rejected Ryanair's accusation that the former Irish state carrier was making 'contradictory claims and forecasts.'"
"Irish carrier Aer Lingus opened a new base at London's Gatwick airport on Friday and rejected criticism from Ryanair about its business forecasts in an increasingly hostile takeover battle. Aer Lingus Chief Executive Dermot Mannion told reporters he completely rejected Ryanair's accusation that the former Irish state carrier was making 'contradictory claims and forecasts.'"
Major European LCCs; only easyJet, Norwegian and Ryanair still growing in November
"Latest available figures for eight of Europe’s biggest LCCs shows that only three of them (easyJet, Norwegian and Ryanair) reported increased passenger numbers in November compared with the previous year. Aer Lingus which had reported growth in its short-haul markets in October saw traffic slip by just over 1% in November."
"Latest available figures for eight of Europe’s biggest LCCs shows that only three of them (easyJet, Norwegian and Ryanair) reported increased passenger numbers in November compared with the previous year. Aer Lingus which had reported growth in its short-haul markets in October saw traffic slip by just over 1% in November."
'I am not qualified to land plane,' Flybe pilot tells passengers
"A British passenger plane was forced to turn back minutes before landing in Paris because the pilot of 30 years' experience was not qualified to land in fog, an airline confirmed on Thursday. Speaking over the address system as the Flybe flight approached Charles de Gaulle airport, the pilot announced to startled passengers 'I am not qualified to land the plane' and turned back to Cardiff. A spokeswoman for the low-cost airline said the pilot was 'an experienced aviator with more than 30 years commercial aviation experience flying a number of different passenger aircraft types.'"
"A British passenger plane was forced to turn back minutes before landing in Paris because the pilot of 30 years' experience was not qualified to land in fog, an airline confirmed on Thursday. Speaking over the address system as the Flybe flight approached Charles de Gaulle airport, the pilot announced to startled passengers 'I am not qualified to land the plane' and turned back to Cardiff. A spokeswoman for the low-cost airline said the pilot was 'an experienced aviator with more than 30 years commercial aviation experience flying a number of different passenger aircraft types.'"
Thursday, December 18, 2008
Chambers won't back Ryanair takeover bid
"Business group Chambers Ireland has said Ryanair's new bid for Aer Lingus should not be approved because of competition concerns. The group's Air Transport Users Council said that while both airlines had solid records of reducing ticket prices, this would be threatened by a merged airline. Spokesperson Seán Murphy said that if a merger were approved, it would give rise to the new airline's becoming a de facto monopoly buyer of services at the Republic's main airports."
"Business group Chambers Ireland has said Ryanair's new bid for Aer Lingus should not be approved because of competition concerns. The group's Air Transport Users Council said that while both airlines had solid records of reducing ticket prices, this would be threatened by a merged airline. Spokesperson Seán Murphy said that if a merger were approved, it would give rise to the new airline's becoming a de facto monopoly buyer of services at the Republic's main airports."
Tuesday, December 16, 2008
SkyAirline (Moscow) saved by cash injection
"SkyAirline is the first Low Cost Airline in Russia. The carrier was under threat of having it’s operating licence revoked by the Russian Aviation Authorities because of mounting debt. Thankfully the threat seems to have disappeared after reports of 39% of SkyAirline being sold to Mr Vitaly Vantsev. Mr Vantsev is also CEO of Russian airline, Rossiya but the transaction is said to be a 'private' one and SkyEurope will not be incorporated into the Rossiya fold. It is always good to hear that there are still investors who take a positive view and can see past the current economic downturn. SkyEurope are based at Moscow’s Vnokovo airport from where they operate budget flight to eleven airports in Russia."
"SkyAirline is the first Low Cost Airline in Russia. The carrier was under threat of having it’s operating licence revoked by the Russian Aviation Authorities because of mounting debt. Thankfully the threat seems to have disappeared after reports of 39% of SkyAirline being sold to Mr Vitaly Vantsev. Mr Vantsev is also CEO of Russian airline, Rossiya but the transaction is said to be a 'private' one and SkyEurope will not be incorporated into the Rossiya fold. It is always good to hear that there are still investors who take a positive view and can see past the current economic downturn. SkyEurope are based at Moscow’s Vnokovo airport from where they operate budget flight to eleven airports in Russia."
Aer Lingus Again Firmly Rejects Ryanair Approach
"Irish airline Aer Lingus PLC Tuesday again firmly rejected the takeover approach from rival Ryanair Holdings PLC, saying it undervalues the flag carrier and would create an air travel monopoly in Ireland. Ryanair Monday released its offer document for the bid. Europe's largest low-cost carrier has bid EUR750 million for Aer Lingus, saying it would turn around the loss-making airline, reduce its fares and create about 1,000 new jobs by doubling the size of the Aer Lingus short-haul fleet. "This document contains nothing new ... It also fails to address the recent E.U. prohibition decision which found emphatically that Ryanair wants to destroy consumer choice," Aer Lingus Chairman Colm Barrington said."
Source: Dow Jones International News
"Irish airline Aer Lingus PLC Tuesday again firmly rejected the takeover approach from rival Ryanair Holdings PLC, saying it undervalues the flag carrier and would create an air travel monopoly in Ireland. Ryanair Monday released its offer document for the bid. Europe's largest low-cost carrier has bid EUR750 million for Aer Lingus, saying it would turn around the loss-making airline, reduce its fares and create about 1,000 new jobs by doubling the size of the Aer Lingus short-haul fleet. "This document contains nothing new ... It also fails to address the recent E.U. prohibition decision which found emphatically that Ryanair wants to destroy consumer choice," Aer Lingus Chairman Colm Barrington said."
Source: Dow Jones International News
New owner for SkyEurope
"Low-cost airline SkyEurope is set to get a cash injection after securing new ownership. Athens-based SAPO International S.A and Lisbon-based Longstock Financial Group are taking a controlling stake in the airline, subject to regulatory approval, under a new partnership called Longstock SAPO Ltd, based in Gibraltar. “Due to the current financial situation of of SkyEurope, Longstock Sapo plans to inject fresh capital in the company,” it said a statement today."
"Low-cost airline SkyEurope is set to get a cash injection after securing new ownership. Athens-based SAPO International S.A and Lisbon-based Longstock Financial Group are taking a controlling stake in the airline, subject to regulatory approval, under a new partnership called Longstock SAPO Ltd, based in Gibraltar. “Due to the current financial situation of of SkyEurope, Longstock Sapo plans to inject fresh capital in the company,” it said a statement today."
Ryanair feels heat from rival backlash
"Aer Lingus lashed out last night, saying Ryanair needs it but it does not need Ryanair. It also said the publication of Ryanair’s offer document yesterday was a "desperate last effort" to create an airline monopoly in Ireland. These were the words of Aer Lingus chief executive Colm Barrington who was commenting after Ryanair wrote to Aer Lingus investors asking them to accept its takeover offer."
Source: The Irish Examiner
"Aer Lingus lashed out last night, saying Ryanair needs it but it does not need Ryanair. It also said the publication of Ryanair’s offer document yesterday was a "desperate last effort" to create an airline monopoly in Ireland. These were the words of Aer Lingus chief executive Colm Barrington who was commenting after Ryanair wrote to Aer Lingus investors asking them to accept its takeover offer."
Source: The Irish Examiner
SkyEurope Acquired by Longstock Financial Group and SAPO International
"Mr. Georges Samaha, the Chairman of Athens-based SAPO International, and Mr. Vitor Costa, the President of Lisbon-based Longstock Financial Group, announced a new partnership, creating Gibraltar-based Longstock SAPO. The new firm intends to purchase a controlling share in Vienna-based SkyEurope, which is a budget airline in Europe, upon approval from regulators. Due to SkyEurope’s current financial situation, Longstock SAPO plans on injecting fresh capital into the airline, but doesn’t have the intention of launching a mandatory takeover proposal for the carrier. However, they will propose the gain of restructuring privileges under the Austrian Takeover Act. The airline has been given a lifeline from Longstock SAPO with a granted €10 million bridging loan facility from the company in hopes of a potential equity injection in the future."
"Mr. Georges Samaha, the Chairman of Athens-based SAPO International, and Mr. Vitor Costa, the President of Lisbon-based Longstock Financial Group, announced a new partnership, creating Gibraltar-based Longstock SAPO. The new firm intends to purchase a controlling share in Vienna-based SkyEurope, which is a budget airline in Europe, upon approval from regulators. Due to SkyEurope’s current financial situation, Longstock SAPO plans on injecting fresh capital into the airline, but doesn’t have the intention of launching a mandatory takeover proposal for the carrier. However, they will propose the gain of restructuring privileges under the Austrian Takeover Act. The airline has been given a lifeline from Longstock SAPO with a granted €10 million bridging loan facility from the company in hopes of a potential equity injection in the future."
Monday, December 15, 2008
Mannion: Aer Lingus not for sale
"Aer Lingus chief executive Dermot Mannion has insisted there will be no takeovers of the airline and it is strong enough to pursue an independent agenda, in spite of apparent claims to the contrary by the airline’s chairman. Last week chairman Colm Barrington said that while Aer Lingus had not found a "perfect partner" that he would be willing to support, there were possibilities for a new shareholder to ensure that Ryanair could never secure 51% of Aer Lingus.
Source: The Irish Examiner
"Aer Lingus chief executive Dermot Mannion has insisted there will be no takeovers of the airline and it is strong enough to pursue an independent agenda, in spite of apparent claims to the contrary by the airline’s chairman. Last week chairman Colm Barrington said that while Aer Lingus had not found a "perfect partner" that he would be willing to support, there were possibilities for a new shareholder to ensure that Ryanair could never secure 51% of Aer Lingus.
Source: The Irish Examiner
Denis O'Brien move to block Ryanair bid for Aer Lingus
"Entrepreneur Denis O'Brien is set to cast his 2.5 per cent holding in Aer Lingus against the Ryanair bid. The Digicel owner told an NCB Wealth Management meeting last Thursday that he would resist any effort by Ryanair boss Michael O'Leary to take over the airline. Mr O'Brien is reported to have been adamant that he did not want to see the two airlines under one owner, not only because of the dangers of a monopoly but also because he was not a fan of the Ryanair style of operation."
Source: Sunday Independent
"Entrepreneur Denis O'Brien is set to cast his 2.5 per cent holding in Aer Lingus against the Ryanair bid. The Digicel owner told an NCB Wealth Management meeting last Thursday that he would resist any effort by Ryanair boss Michael O'Leary to take over the airline. Mr O'Brien is reported to have been adamant that he did not want to see the two airlines under one owner, not only because of the dangers of a monopoly but also because he was not a fan of the Ryanair style of operation."
Source: Sunday Independent
Low-cost airlines thrive in hard times
"High aviation-fuel costs have certainly created a difficult trading environment for African airlines over the past four years. The recent fall in oil prices is certain to feed through into lower fuel costs, but the international banking crisis could result in a dramatic fall in passenger numbers, posing yet more problems for the continent's airline. As always, the best-managed companies with the strongest business models will stand best chance of survival and it will be Interesting to see how the new low-cost airlines (LCAs) with the crisis."
Source: African Business
"High aviation-fuel costs have certainly created a difficult trading environment for African airlines over the past four years. The recent fall in oil prices is certain to feed through into lower fuel costs, but the international banking crisis could result in a dramatic fall in passenger numbers, posing yet more problems for the continent's airline. As always, the best-managed companies with the strongest business models will stand best chance of survival and it will be Interesting to see how the new low-cost airlines (LCAs) with the crisis."
Source: African Business
Court says Ryanair's bid for Aer Lingus was illegal
"Ireland's competition authority dealt Ryanair's renewed bid for Aer Lingus a severe blow Friday, ruling that its most recent promises to woo shareholders violate takeover laws. The Irish Takeover Panel ordered Ryanair to withdraw two key pledges to the Irish government -- the second-largest Aer Lingus shareholder with a 25.1 percent stake -- that offered to give the government control of the airline's Heathrow slots and a 100- million euro ($130 million) guarantee. The competition authority said Ryanair's sales pitch was illegal because its special pledges to the government ``constitute arrangements with an Aer Lingus shareholder containing favorable terms which were not being extended to all shareholders.''"
"Ireland's competition authority dealt Ryanair's renewed bid for Aer Lingus a severe blow Friday, ruling that its most recent promises to woo shareholders violate takeover laws. The Irish Takeover Panel ordered Ryanair to withdraw two key pledges to the Irish government -- the second-largest Aer Lingus shareholder with a 25.1 percent stake -- that offered to give the government control of the airline's Heathrow slots and a 100- million euro ($130 million) guarantee. The competition authority said Ryanair's sales pitch was illegal because its special pledges to the government ``constitute arrangements with an Aer Lingus shareholder containing favorable terms which were not being extended to all shareholders.''"
Friday, December 12, 2008
Newquay Airport: Ryanair suspends flights until March
"Ryanair has suspended its Newquay service to and from Stansted until March, the company announced today. The low-cost airline blamed the decision on Cornwall County Council's inability to confirm a date when Newquay Airport will re-open. Describing county councillors as 'Keystone Cops,'' the airline said it had no alternative but to cancel all flights to and from Stansted until March 2."
"Ryanair has suspended its Newquay service to and from Stansted until March, the company announced today. The low-cost airline blamed the decision on Cornwall County Council's inability to confirm a date when Newquay Airport will re-open. Describing county councillors as 'Keystone Cops,'' the airline said it had no alternative but to cancel all flights to and from Stansted until March 2."
Chairman targets O’Leary ‘lies’
"Colm Barrington is on a mission. The new chairman of Aer Lingus fired the first salvo on Thursday in his campaign to refute the “big lies” he claims are being told about his airline by Michael O’Leary, Ryanair’s chief executive. Ryanair launched last week its second hostile bid in two years for its smaller Irish rival. And in contrast to many of his previous battles, Mr O’Leary might have found an opponent more than willing to trade blows."
"Colm Barrington is on a mission. The new chairman of Aer Lingus fired the first salvo on Thursday in his campaign to refute the “big lies” he claims are being told about his airline by Michael O’Leary, Ryanair’s chief executive. Ryanair launched last week its second hostile bid in two years for its smaller Irish rival. And in contrast to many of his previous battles, Mr O’Leary might have found an opponent more than willing to trade blows."
Aer Lingus chief says bid will not get off the ground
"Colm Barrington is adamant that the flagship airline should steer clear of Ryanair, writes Ciarán Hancock For the past fortnight, Ryanair chief executive Michael O'Leary has made all the running on his latest offer to acquire Aer Lingus. He's schmoozed the press, cosied up to Minister for Transport Noel Dempsey, and worked his charm on the Late Late Show.
Source: The Irish Times
"Colm Barrington is adamant that the flagship airline should steer clear of Ryanair, writes Ciarán Hancock For the past fortnight, Ryanair chief executive Michael O'Leary has made all the running on his latest offer to acquire Aer Lingus. He's schmoozed the press, cosied up to Minister for Transport Noel Dempsey, and worked his charm on the Late Late Show.
Source: The Irish Times
Air Berlin to launch non-stop service from Dusseldorf to St Petersburg
"Air Berlin is planning to launch a new daily non-stop service from Dusseldorf, Germany to St Petersburg, Russia in summer 2009. According to the airline, there will again be a daily flight from Berlin-Tegel Airport to St Petersburg in summer 2009. In addition to the daily morning flight, Air Berlin passengers will have the option in summer 2009 of an evening flight from Berlin-Tegel to Moscow six times a week (every day except Saturday)."
Source: Datamonitor NewsWire
"Air Berlin is planning to launch a new daily non-stop service from Dusseldorf, Germany to St Petersburg, Russia in summer 2009. According to the airline, there will again be a daily flight from Berlin-Tegel Airport to St Petersburg in summer 2009. In addition to the daily morning flight, Air Berlin passengers will have the option in summer 2009 of an evening flight from Berlin-Tegel to Moscow six times a week (every day except Saturday)."
Source: Datamonitor NewsWire
Aer Lingus steps up battle against 'pathetic' Ryanair bid
"The board of Aer Lingus issued a fresh rejection of a potential merger with Ryanair in a meeting with the Government yesterday. Chief executive Dermot Mannion said the financial amount being offered by Ryanair was "a pathetic sum" compared to the EUR1.3bn the airline has on its balance sheet. Mr Mannion and Aer Lingus chairman Colm Barrington also told Transport Minister Noel Dempsey the offer for the former state airline would "eliminate competition" in the Irish marketplace."
Source: Irish Independent
"The board of Aer Lingus issued a fresh rejection of a potential merger with Ryanair in a meeting with the Government yesterday. Chief executive Dermot Mannion said the financial amount being offered by Ryanair was "a pathetic sum" compared to the EUR1.3bn the airline has on its balance sheet. Mr Mannion and Aer Lingus chairman Colm Barrington also told Transport Minister Noel Dempsey the offer for the former state airline would "eliminate competition" in the Irish marketplace."
Source: Irish Independent
Slovak SkyEurope gets EUR 10m bridge loan
"Troubled Slovak lowcost air carrier SkyEurope Holding AG will receive a bridge loan of EUR 10 million (USD 13.3m), the airline said on December 12, 2008. SkyEurope Airlines a.s., a 100% subsidiary of SkyEurope, has agreed with Longstock SAPO Limited, on the loan facility in light of a possible future equity injection into SkyEurope Holding AG."
Source: APA-Economic News Service
"Troubled Slovak lowcost air carrier SkyEurope Holding AG will receive a bridge loan of EUR 10 million (USD 13.3m), the airline said on December 12, 2008. SkyEurope Airlines a.s., a 100% subsidiary of SkyEurope, has agreed with Longstock SAPO Limited, on the loan facility in light of a possible future equity injection into SkyEurope Holding AG."
Source: APA-Economic News Service
Ryanair: Row ends flights
"Budget airline Ryanair has confirmed it is closing a popular holiday island route after a dispute with the local tourism group."
Source: Newcastle Journal
"Budget airline Ryanair has confirmed it is closing a popular holiday island route after a dispute with the local tourism group."
Source: Newcastle Journal
Wednesday, December 10, 2008
SkyEurope trebles loss in FY2008; Austrian Airlines not favoured. European airline share prices
"SkyEurope (-8.0%) in particular was punished for reporting an EBIT loss of EUR56.1 million in 2008, much worse than its loss of EUR20.9 in 2007, after being 'significantly impacted by the high fuel prices'. This was not helped by its recognition of the need to reduce capacity too, announcing a 19% reduction over the winter, although it will 'impact our unit costs ex-fuel negatively'."
"SkyEurope (-8.0%) in particular was punished for reporting an EBIT loss of EUR56.1 million in 2008, much worse than its loss of EUR20.9 in 2007, after being 'significantly impacted by the high fuel prices'. This was not helped by its recognition of the need to reduce capacity too, announcing a 19% reduction over the winter, although it will 'impact our unit costs ex-fuel negatively'."
Stelios tries to crimp easyJet's growth plans
"Sir Stelios Haji-Ioannou, founder of easyJet, may have set about his campaign to trim the airline's expansionist ambitions in the wrong way, but he seems to have a point. With the global industry now forecast to lose a stomach-churning $2.5bn next year, and Giovanni Bisignani, director general of Iata, calling it the worst revenue outlook for 50 years, is this really the best of times for EasyJet to have committed itself to purchasing more than 100 new airbuses with a list price of over $5bn?"
"Sir Stelios Haji-Ioannou, founder of easyJet, may have set about his campaign to trim the airline's expansionist ambitions in the wrong way, but he seems to have a point. With the global industry now forecast to lose a stomach-churning $2.5bn next year, and Giovanni Bisignani, director general of Iata, calling it the worst revenue outlook for 50 years, is this really the best of times for EasyJet to have committed itself to purchasing more than 100 new airbuses with a list price of over $5bn?"
Vueling/clickair Merger in the Spring
"Spanish air transport company Iberia acquires two Spanish air transport companies, Vueling and Clickair." The merger should be made during Spring 2009.
"Spanish air transport company Iberia acquires two Spanish air transport companies, Vueling and Clickair." The merger should be made during Spring 2009.
'Next airline to go bust?' Paddy Power betting ad banned
"A press ad by Irish bookmakers Paddy Power giving odds on airlines including British Airways and Ryanair going bust has been banned by the advertising regulator. The Paddy Power press campaign, which ran in national newspapers, used the headline 'Next airline to go bust?'. (...) Other airlines punters could bet on going bust included FlyGlobespan, Spainair, Air Berlin, SkyEurope and Wizz Air."
"A press ad by Irish bookmakers Paddy Power giving odds on airlines including British Airways and Ryanair going bust has been banned by the advertising regulator. The Paddy Power press campaign, which ran in national newspapers, used the headline 'Next airline to go bust?'. (...) Other airlines punters could bet on going bust included FlyGlobespan, Spainair, Air Berlin, SkyEurope and Wizz Air."
Aer Lingus merger a bad deal for Ryanair
"Ryanair boss Michael OLeary seems determined that nothing will prevent him from acquiring Aer Lingus, even promising to recognise the trade unions in his efforts to land his old enemy. But would the deal represent such good value for Ryanair shareholders, who have seen the value of their investment fall by 50 per cent over the past 18 months? On paper the deal has certain attractions for Ryanair. With cash of 800m on its balance sheet Ryanair would effectively be getting Aer Lingus for free at the 1.40 per share ( 748m) it is offering to pay for the former State-owned airline."
Source: TendersInfo
"Ryanair boss Michael OLeary seems determined that nothing will prevent him from acquiring Aer Lingus, even promising to recognise the trade unions in his efforts to land his old enemy. But would the deal represent such good value for Ryanair shareholders, who have seen the value of their investment fall by 50 per cent over the past 18 months? On paper the deal has certain attractions for Ryanair. With cash of 800m on its balance sheet Ryanair would effectively be getting Aer Lingus for free at the 1.40 per share ( 748m) it is offering to pay for the former State-owned airline."
Source: TendersInfo
Budget airlines failing to comply with European laws
"Budget airlines Ryanair and easyJet are failing to comply with European laws that ban pre-checked boxes on Web sites that sell flight tickets."
"Budget airlines Ryanair and easyJet are failing to comply with European laws that ban pre-checked boxes on Web sites that sell flight tickets."
Takeover could pull Ryanair back into black... but O'Leary kept quiet on that
"Having dropped €90m building up a 29pc stake in Aer Lingus that has got him nowhere, Ryanair chief executive Michael O'Leary had no choice but to make a second tilt. His arrogance is such that in his pitch to shareholders, O'Leary carps on about the woes surrounding Aer Lingus, and doesn't mention his own."
"Having dropped €90m building up a 29pc stake in Aer Lingus that has got him nowhere, Ryanair chief executive Michael O'Leary had no choice but to make a second tilt. His arrogance is such that in his pitch to shareholders, O'Leary carps on about the woes surrounding Aer Lingus, and doesn't mention his own."
Back Off O'Leary...
"Aer Lingus boss says Ryanair takeover bid doomed as cuts start. Aer Lingus boss Dermot Mannion yesterday laughed off Ryanair's takeover bid - as new cost-cutting measures were cleared for take-off. A deal between workers and Aer Lingus management will save the company EUR50million but up to 200 jobs will have to be sacrificed. Mannion said it's unfortunate workers will be lost but thanked their trade union Impact for agreeing a deal that will help them fight off Ryanair boss Micheal O'Leary. He added: "This deal will reposition us as an airline that can compete with Ryanair and other airlines. "We're sorry 200 staff will leave and won't be replaced but we still have 3,500 that will remain and help us improve our productivity."
Source: Mirror
"Aer Lingus boss says Ryanair takeover bid doomed as cuts start. Aer Lingus boss Dermot Mannion yesterday laughed off Ryanair's takeover bid - as new cost-cutting measures were cleared for take-off. A deal between workers and Aer Lingus management will save the company EUR50million but up to 200 jobs will have to be sacrificed. Mannion said it's unfortunate workers will be lost but thanked their trade union Impact for agreeing a deal that will help them fight off Ryanair boss Micheal O'Leary. He added: "This deal will reposition us as an airline that can compete with Ryanair and other airlines. "We're sorry 200 staff will leave and won't be replaced but we still have 3,500 that will remain and help us improve our productivity."
Source: Mirror
Merger with 'flagging Ryanair would hurt Aer Lingus brand'
"The chief executive of Aer Lingus has claimed Ryanair boss Michael O'Leary wants a merger to go ahead because his own brand is "beginning to flag across Europe". Dermot Mannion said Aer Lingus, which "never leaves you stranded", would be "damaged" by an association with the budget airline. He said Aer Lingus would soon launch a "very aggressive defence strategy" against the budget carrier's half-price bid for the airline, which was unveiled last week."
Source: Irish Independent
"The chief executive of Aer Lingus has claimed Ryanair boss Michael O'Leary wants a merger to go ahead because his own brand is "beginning to flag across Europe". Dermot Mannion said Aer Lingus, which "never leaves you stranded", would be "damaged" by an association with the budget airline. He said Aer Lingus would soon launch a "very aggressive defence strategy" against the budget carrier's half-price bid for the airline, which was unveiled last week."
Source: Irish Independent
Tuesday, December 09, 2008
Ryanair is forced to cancel 56 flights
"Several people arrested after Stansted protest across Northern Ireland were caught up in widespread disruption today caused by environmental protestors at a London airport."
Source: Belfast Telegraph
"Several people arrested after Stansted protest across Northern Ireland were caught up in widespread disruption today caused by environmental protestors at a London airport."
Source: Belfast Telegraph
Eurowings To Sell Germanwings Stake To Lufthansa
"German airline Eurowings Luftverkehrs AG said Monday it will sell its shares in discount airline Germanwings to Deutsche Lufthansa AG as of Jan. 1, 2009"
Source: Dow Jones International News
"German airline Eurowings Luftverkehrs AG said Monday it will sell its shares in discount airline Germanwings to Deutsche Lufthansa AG as of Jan. 1, 2009"
Source: Dow Jones International News
SkyEurope November passenger numbers down 23%
"Slovakia-based airline SkyEurope has transported 219,590 passengers in November 2008, a decrease of 22.8%, compared to 284,417 passengers in the same period of 2007."
Source: Datamonitor News and Comment
"Slovakia-based airline SkyEurope has transported 219,590 passengers in November 2008, a decrease of 22.8%, compared to 284,417 passengers in the same period of 2007."
Source: Datamonitor News and Comment
SIPTU dismisses Ryanair bid as mischief-making
"SIPTU has dismissed Ryanair's latest takeover offer for Aer Lingus as mischief-making.The airline announced this morning that it was offering €1.40 per share for its rival as part of a plan to create "one strong Irish airline group".
Source: The Irish Examiner
"SIPTU has dismissed Ryanair's latest takeover offer for Aer Lingus as mischief-making.The airline announced this morning that it was offering €1.40 per share for its rival as part of a plan to create "one strong Irish airline group".
Source: The Irish Examiner
Sunday, December 07, 2008
O'Leary's new takeover bid is doomed, insists Aer Lingus boss
"The chief executive of Aer Lingus has warned that Ryanair's latest bid for Aer Lingus will fail, despite guarantees from Michael O'Leary to sweeten the deal. Dermot Mannion suggested last night that the European Commission was likely to block its rival's latest offer despite Mr O'Leary's claims that it would look more favourably on a merger. Ryanair has appealed the commission's decision to turn down its first bid for the carrier in 2006 because Brussels found it was anti-competitive. Mr Mannion said a merger between Ryanair and Aer Lingus "would be like putting Manchester United and Liverpool together and expecting them to compete the next day with the same vigour".
Source: Irish Independent
"The chief executive of Aer Lingus has warned that Ryanair's latest bid for Aer Lingus will fail, despite guarantees from Michael O'Leary to sweeten the deal. Dermot Mannion suggested last night that the European Commission was likely to block its rival's latest offer despite Mr O'Leary's claims that it would look more favourably on a merger. Ryanair has appealed the commission's decision to turn down its first bid for the carrier in 2006 because Brussels found it was anti-competitive. Mr Mannion said a merger between Ryanair and Aer Lingus "would be like putting Manchester United and Liverpool together and expecting them to compete the next day with the same vigour".
Source: Irish Independent
"The renewed bid by Ryanair to take over Aer Lingus has been rejected by unions representing workers at the part state-owned airline. Niall Shanahan, communications officer with the Impact union, said: "The corporate culture of Ryanair is just something that is a complete anathema to our members."
Source: The Times
Friday, December 05, 2008
Setback for easyJet fuels Stelios row
"The row at easyJet between founder Stelios Haji-Ioannou and the rest of the board over the airlines growth ambitions took a new twist today as the budget carrier admitted it has had one of its worst-ever months. The Gatwick-and Luton-based carrier said it flew 2.9 million passengers in November, a year-on-year increase of 3.4%, against annualised growth over the past year of almost 17%. The airline is used to announcing growth in double-digit percentages. The growth of easyJet is a central issue in the extraordinary row that last month saw Stelios refuse to sign off the easyJet accounts. He also demanded that two of his allies join the board, and the company start paying dividends to shareholders. He and his family hold a 41% stake."
Source: The Evening Standard
"The row at easyJet between founder Stelios Haji-Ioannou and the rest of the board over the airlines growth ambitions took a new twist today as the budget carrier admitted it has had one of its worst-ever months. The Gatwick-and Luton-based carrier said it flew 2.9 million passengers in November, a year-on-year increase of 3.4%, against annualised growth over the past year of almost 17%. The airline is used to announcing growth in double-digit percentages. The growth of easyJet is a central issue in the extraordinary row that last month saw Stelios refuse to sign off the easyJet accounts. He also demanded that two of his allies join the board, and the company start paying dividends to shareholders. He and his family hold a 41% stake."
Source: The Evening Standard
SkyEurope transports 22.8% less passengers in Nov 2008
"Troubled Slovak lowcost air carrier SkyEurope Holding AG transported 219,590 passengers in November 2008, down 22.8% yearonyear, the company said on December 4, 2008. The number of passengers between December 2007 and November 2008 rose 4.8% year-on-year. The load factor fell by 1.2 percentage points to 68.4% in November 2008, and to 73% in the twelve months ended November 30, 2008 from 80.6% a year earlier. SkyEurope plans to reduce its capacity by 19% in the first half of 2009. In November the seat capacity was cut by 21.4% due to the weak economic climate."
Source: APA-Economic News Service
"Troubled Slovak lowcost air carrier SkyEurope Holding AG transported 219,590 passengers in November 2008, down 22.8% yearonyear, the company said on December 4, 2008. The number of passengers between December 2007 and November 2008 rose 4.8% year-on-year. The load factor fell by 1.2 percentage points to 68.4% in November 2008, and to 73% in the twelve months ended November 30, 2008 from 80.6% a year earlier. SkyEurope plans to reduce its capacity by 19% in the first half of 2009. In November the seat capacity was cut by 21.4% due to the weak economic climate."
Source: APA-Economic News Service
Passenger slowdown at easyJet
"Budget airline easyJet has had one of its worst months ever right in the middle of a storm blown up by its founder Stelios Haji-Ioannou over cutbacks at the carrier. EasyJet announced today that it flew 2.9 million passengers in November a year-on-year increase of just 3.4%. That compares to annualised growth over the last year of nearly 17% for an airline used to announcing double-digit expansion."
Source: The Evening Standard
"Budget airline easyJet has had one of its worst months ever right in the middle of a storm blown up by its founder Stelios Haji-Ioannou over cutbacks at the carrier. EasyJet announced today that it flew 2.9 million passengers in November a year-on-year increase of just 3.4%. That compares to annualised growth over the last year of nearly 17% for an airline used to announcing double-digit expansion."
Source: The Evening Standard
Thursday, December 04, 2008
Deep suspicion of O'Leary methods, and his motives
"Unions last night warned that anyone who sees Michael O'Leary as "some sort of modern day Robin Hood" needs a "reality check". SIPTU and Impact warned against the dangers of an airline that was "not noted for its concern for the public" gaining a monopoly position by raiding Aer Lingus's "treasure chest". They also claimed the no- frills carrier, which does not recognise unions, would drive down employment standards."
Source: Independent Newspapers Ireland
"Unions last night warned that anyone who sees Michael O'Leary as "some sort of modern day Robin Hood" needs a "reality check". SIPTU and Impact warned against the dangers of an airline that was "not noted for its concern for the public" gaining a monopoly position by raiding Aer Lingus's "treasure chest". They also claimed the no- frills carrier, which does not recognise unions, would drive down employment standards."
Source: Independent Newspapers Ireland
Low-cost airline Sky Europe reports further loss
"Slovakian budget airline Sky Europe reported a further drop in full year results with a loss of 59.4 million euros (75.3 million dollars), compared to 24.07 million last year, preliminary figures showed. The low-cost airline also saw negative underlying earnings, as measured by earnings before interest, tax, depreciation and amortization, at 56.1 million euros for the full year ending on September 30, according to the figures published late Friday."
Source: AFP
"Slovakian budget airline Sky Europe reported a further drop in full year results with a loss of 59.4 million euros (75.3 million dollars), compared to 24.07 million last year, preliminary figures showed. The low-cost airline also saw negative underlying earnings, as measured by earnings before interest, tax, depreciation and amortization, at 56.1 million euros for the full year ending on September 30, according to the figures published late Friday."
Source: AFP
State may sell Aer Lingus share
"The Government says it will consider Ryanair’s offer to buy its 25% stake in Aer Lingus. Finance Minister Brian Lenihan said the Government would have to be careful to preserve competition among airlines serving Irish routes and protect links to Britain. "The Government will have to be very, very careful how they dispose of this very valuable national asset," said Mr Lenihan."
Source: The Irish Examiner
"The Government says it will consider Ryanair’s offer to buy its 25% stake in Aer Lingus. Finance Minister Brian Lenihan said the Government would have to be careful to preserve competition among airlines serving Irish routes and protect links to Britain. "The Government will have to be very, very careful how they dispose of this very valuable national asset," said Mr Lenihan."
Source: The Irish Examiner
BMI stays silent on takeover talk
"Castle Donington airline BMI has refused to comment on reports that its subsidiary operations, BMI regional and BMI Baby, could be bought by Flybe. It has been reported that they are not part of the strategy of its new owner Lufthansa, which took over last month. A spokesman declined to comment yesterday to the Evening Telegraph."
Source: Evening Telegraph
"Castle Donington airline BMI has refused to comment on reports that its subsidiary operations, BMI regional and BMI Baby, could be bought by Flybe. It has been reported that they are not part of the strategy of its new owner Lufthansa, which took over last month. A spokesman declined to comment yesterday to the Evening Telegraph."
Source: Evening Telegraph
Softer approach from O'Leary
"Michael O'Leary insists Ryanair's bid for Aer Lingus makes 'industry logic'. Others disagree. There was a distinct change of emphasis in Ryanair's €748 million bid for Aer Lingus yesterday compared to the failed offer of 2006. While he could not resist having the odd dig at Aer Lingus's top brass yesterday, there was greater subtlety to the latest approach from Michael O'Leary. More than one olive branch was being waved."
Source: Irish Times
"Michael O'Leary insists Ryanair's bid for Aer Lingus makes 'industry logic'. Others disagree. There was a distinct change of emphasis in Ryanair's €748 million bid for Aer Lingus yesterday compared to the failed offer of 2006. While he could not resist having the odd dig at Aer Lingus's top brass yesterday, there was greater subtlety to the latest approach from Michael O'Leary. More than one olive branch was being waved."
Source: Irish Times
Monday, December 01, 2008
Ryanair bids 748 mln euros for Aer Lingus
"Irish low-fare airline Ryanair said Monday it had launched a 748-million-euro (950-million-dollar) offer for rival Aer Lingus, in which it already has a near 30-percent stake. The offer is a renewed bid by Ryanair after the group was refused ownership of Aer Lingus in 2006 on competition grounds. "The board of Ryanair proposes to merge the two airlines into one strong Irish airline group under common ownership," Ryanair said in a statement.
Source: AFP
"Irish low-fare airline Ryanair said Monday it had launched a 748-million-euro (950-million-dollar) offer for rival Aer Lingus, in which it already has a near 30-percent stake. The offer is a renewed bid by Ryanair after the group was refused ownership of Aer Lingus in 2006 on competition grounds. "The board of Ryanair proposes to merge the two airlines into one strong Irish airline group under common ownership," Ryanair said in a statement.
Source: AFP
Airline sites see massive drop in UK user numbers
"Visitors to airline sites have dropped 32% year on year as a result of the continuing economic crisis, according to figures from ComScore. The fall in traffic was felt hardest by former category leader British Airways, which saw a 54% drop in unique UK visitors, from 3.15m in October 2007 to 1.44m last month. BA is now the third most visited airline site, behind budget airlines easyJet, with 2.04m users despite a 26% fall year on year, and Ryanair, which received 1.74m users."
source: New Media Age
"Visitors to airline sites have dropped 32% year on year as a result of the continuing economic crisis, according to figures from ComScore. The fall in traffic was felt hardest by former category leader British Airways, which saw a 54% drop in unique UK visitors, from 3.15m in October 2007 to 1.44m last month. BA is now the third most visited airline site, behind budget airlines easyJet, with 2.04m users despite a 26% fall year on year, and Ryanair, which received 1.74m users."
source: New Media Age
Stelios in Retreat on Board Row
"easyJet founder Sir Stelios Haji-Ioannou moved to defuse a row with the airline's board by pledging to back down on demands for a dividend to be paid from 2011. 'In order to refocus the mind on the real issue of the aircraft numbers, I hereby officially take the dividend issues off the agenda until the AGM in February 2010,' he said. Haji-Ioannou said that at the end of September easyJet was contractually committed to acquiring 109 Airbus 320s costing £3.3 billion."
Source: The Mail on Sunday
"easyJet founder Sir Stelios Haji-Ioannou moved to defuse a row with the airline's board by pledging to back down on demands for a dividend to be paid from 2011. 'In order to refocus the mind on the real issue of the aircraft numbers, I hereby officially take the dividend issues off the agenda until the AGM in February 2010,' he said. Haji-Ioannou said that at the end of September easyJet was contractually committed to acquiring 109 Airbus 320s costing £3.3 billion."
Source: The Mail on Sunday
Flybe in Talks to Buy BMI
"The UK's biggest regional airline, Flybe, is in talks about acquiring bmibaby and bmi regional, both part of British Midland, where Germany's Lufthansa is taking majority control. Flybe, part of private group Walker Aviation, is carrying out due diligence on the two businesses that account for about 40 per cent of British Midland's turnover and could be worth up to £150 million. Lufthansa recently agreed to add to its existing 30 per cent shareholding in bmi - whose main business is international flights - by acquiring chairman Sir Michael Bishop's 50 per cent stake. The deal valued the company at about £625 million."
Source: The Mail on Sunday
"The UK's biggest regional airline, Flybe, is in talks about acquiring bmibaby and bmi regional, both part of British Midland, where Germany's Lufthansa is taking majority control. Flybe, part of private group Walker Aviation, is carrying out due diligence on the two businesses that account for about 40 per cent of British Midland's turnover and could be worth up to £150 million. Lufthansa recently agreed to add to its existing 30 per cent shareholding in bmi - whose main business is international flights - by acquiring chairman Sir Michael Bishop's 50 per cent stake. The deal valued the company at about £625 million."
Source: The Mail on Sunday
Ryanair in Xmas flight cut
"Thousands of holidaymakers face Christmas travel chaos after Ryanair axed flights. The low-cost airline cancelled or rescheduled hundreds of flights on 30 routes across Europe after a strike at Boeing delayed delivery of new aircraft. Ryanair boss Michael O'Leary has promised a full refund for travellers who have been hit. But angry passengers say they have now missed out on cut-price tickets with other airlines."
Source: The Sunday Mirror
"Thousands of holidaymakers face Christmas travel chaos after Ryanair axed flights. The low-cost airline cancelled or rescheduled hundreds of flights on 30 routes across Europe after a strike at Boeing delayed delivery of new aircraft. Ryanair boss Michael O'Leary has promised a full refund for travellers who have been hit. But angry passengers say they have now missed out on cut-price tickets with other airlines."
Source: The Sunday Mirror
Stelios grabs the controls amid boardroom turbulence at Easyjet
"Directors of Easyjet, Europe's fourth-largest airline, had mixed feelings as they made the journey to its Luton headquarters on Thursday for a board meeting. They were looking forward to the happy task of approving a strong set of annual results before Tuesday's announcement. Easyjet's management is expected to tell the City it has hit its profit targets, a great achievement in a year in which several airlines have gone bust. There was a cloud on the horizon, however. A long-simmering boardroom dispute was about to burst into the open. On one side was Sir Stelios Haji- Ioannou, the gregarious Greek Cypriot who founded the airline and is still its biggest shareholder. On the other side were the rest of the directors."
Source: The Sunday Times
"Directors of Easyjet, Europe's fourth-largest airline, had mixed feelings as they made the journey to its Luton headquarters on Thursday for a board meeting. They were looking forward to the happy task of approving a strong set of annual results before Tuesday's announcement. Easyjet's management is expected to tell the City it has hit its profit targets, a great achievement in a year in which several airlines have gone bust. There was a cloud on the horizon, however. A long-simmering boardroom dispute was about to burst into the open. On one side was Sir Stelios Haji- Ioannou, the gregarious Greek Cypriot who founded the airline and is still its biggest shareholder. On the other side were the rest of the directors."
Source: The Sunday Times
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