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Low-cost carrier Ryanair on Monday reported its best-ever annual profit, as passenger and revenue growth offset sharply higher operating costs. The Dublin-based firm said full-year profit after tax jumped 34% to 1.92 billion euros ($2.09 billion), and announced a 700-million-euro share buyback program. Revenue rose 25% year-on-year to 13.44 billion euros as the airline served 184 million passengers, 23% more than before the Covid pandemic. Ryanair Chief Financial Officer Neil Sorahan told CNBC's "Squawk Box Europe" Monday that its share buyback reflected a "very strong" balance sheet. "Our priorities have been very much: restore the pay for our people after Covid, bring in pay increases, pay down the debt," he said.
Persons: Neil Sorahan, CNBC's, we've, actualy Organizations: Ryanair, Revenue Locations: Dublin
Ryanair CEO: More and more people are traveling with lower fares
  + stars: | 2024-05-20 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRyanair CEO: More and more people are traveling with lower faresRyanair CEO Michael O'Leary joins 'Squawk Box' to discuss the company's quarterly earnings results, why prices won't be as high as hoped during the summer season, and much more.
Persons: Michael O'Leary
The CEO of Europe's biggest airline called Boeing's delivery delays "extremely annoying." AdvertisementThe CEO of Lufthansa has become the second airline boss in recent days to voice his frustration with Boeing over delivery delays. In an interview with Swiss newspaper Neue Zuercher Zeitung published Saturday, Carsten Spohr was asked about the planemaker's delivery delays. In an interview with CNBC, Sheikh Ahmed bin Saeed Al Maktoum told Boeing to "get your act together." AdvertisementAfter announcing his resignation, Boeing CEO Dave Calhoun said the company needed to slow down production in order to focus on safety.
Persons: , Carsten Spohr, Sheikh Ahmed bin Saeed Al Maktoum, Dave Calhoun, Al Maktoum's, Brendan Nelson, Spohr Organizations: Alaska Airlines, Boeing, Service, Lufthansa, Swiss, Neue Zuercher, Europe's, Emirates, CNBC, Boeing Global, Sky Arabia, Ryanair, United Airlines, Max, Airbus, Zuercher Zeitung, Business
I flew with Ryanair, easyJet, and Wizz in a two-day trip to compare Europe's main budget airlines. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementRyanair, easyJet, and Wizz are Europe's three biggest budget airlines, but the experiences can be quite different. Last month, to compare the three airlines, I flew from London to Madrid with Ryanair, then on to Rome with Wizz, and back home with easyJet. This story is available exclusively to Business Insider subscribers.
Persons: , Wizz Organizations: Ryanair, easyJet, Service, Business Locations: London, Madrid, Rome
I flew from London to Madrid with Ryanair on a ticket that started at £35 ($43.70). It got me from A to B unscathed, but I'd rather fly with another budget airline for the same price. AdvertisementWhen it comes to airlines, my friends often sing the praises of Ryanair — praising its cheap ticket prices, whether it be city breaks or visiting home. Coupled with my train journey to the airport, what started as a £35 ticket ended up costing £90. AdvertisementIf you are planning to fly with Ryanair, I hope this article will help you plan to avoid its pitfalls.
Persons: Organizations: Ryanair, Service Locations: London, Madrid
The airports losing Southwest service are:AdvertisementSyracuse Hancock International Airport in New York. Bellingham International Airport in Washington. Southwest also said it would "significantly restructure other markets," including putting capacity reductions at Hartsfield-Jackson Atlanta International Airport and Chicago O'Hare International Airport. Related stories"To improve our financial performance, we have intensified our network-optimization efforts to address underperforming markets," Southwest CEO Bob Jordan said in the earnings report, noting the impact could go into 2025. The backlash has prompted Boeing CEO Dave Calhoun to announce his resignation from the company, effective at the end of the year.
Persons: , George Bush, Boeing's Max, Max, Bob Jordan, Jordan, Dave Calhoun, Boeing's, Larry Kellner, Stan Deal, Stephanie Pope, Sam Salehpour Organizations: Service, Boeing, Max, Southwest Airlines, Business, Southwest, Syracuse Hancock International, Bellingham International Airport, Cozumel International, George Bush Intercontinental Airport, Alaska Airlines, Hartsfield, Jackson Atlanta International Airport, Chicago O'Hare International, Ryanair, United Airlines, Boeing Commercial Locations: New York, Bellingham, Washington, Cozumel, Mexico, Houston, Southwest, Alaska
About 46,000 flights reported navigation problems flying over the Baltics during an eight-month period, The Sun reported. AdvertisementThousands of planes may have run into issues with jammed GPS signals, according to a report by British tabloid The Sun which suggests that Russia may be to blame. AdvertisementBoth The Sun and The Guardian reported that Russia is suspected of being involved in GPS jamming attacks. The frequency of instances of navigation problems rocketed from fewer than 50 a week last year to more than 350 a week last month, The Sun reported. But the CAA told The Independent that jamming and spoofing near conflict zones were often by-products of military activity, not deliberate actions.
Persons: , Grant Shapps, Rishi Sunak, There's, Luc Tytgat, Glenn Bradley Organizations: Sun, Service, British, The Sun, European Union Aviation Safety Agency, Guardian, Wizz Air, Royal Air Force, CAA, Independent, UK Civil Aviation Authority, Ryanair Locations: Estonia, Latvia, Lithuania, Poland, Türkiye, Cyprus, Russia, GPSJAM.org, Sun, Baltic, Kaliningrad, Russian, Baltics, Eastern Europe, Ukraine
I was excited to study abroad in Florence and to take small, cheap trips while abroad. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAs a third-year college student attending Colorado State University in Fort Collins, I jumped at the chance to study abroad. I knew studying abroad was a privilege before getting here, but "a weekend in Dubai" was not what I expected. Traveling while studying abroad is a competitive sport with a large price tag that no one told me to train for.
Persons: I'm, , hasn't, I've Organizations: Service, Colorado State University, Ryanair Locations: Florence, Dubai, Fort Collins, Italy, Morocco, Prague, Instagram, Copenhagen
Global airlines are governed by nine "freedoms of the air," drafted 80 years ago in 1944. The fifth freedom can give airlines a competitive edge and help capitalize on demand. "Five Freedom Agreements"Qantas flies a Boeing 787 on its fifth freedom route between Sydney and New York. Seventh FreedomThe seventh freedom is similar to the fifth freedom but takes out the limitation of where the route must start or end. Ninth FreedomAdvertisementThis cabotage freedom allows an airline of one nation to fly between two points in a separate single country.
Persons: , Vytautas Kielaitis, Taylor Rains, Toshi, Nicolas Economou Organizations: Service, International Civil Aviation Organization, United Nations, Chicago Convention, ICAO, Chicago, European Union, Singapore Airlines, Airbus, Qantas, Google Flights, United Airlines, FAA, Emirates, Latam Airlines, Atlantic . Emirates, luxe, Forbes, Air Senegal, Boeing, Ryanair, Getty, Nice Locations: New York, Singapore, Frankfurt, Germany, Emirates, JFK, Milan, Newark, Athens, Dubai, Australian, Sydney, Auckland , New Zealand, Cebu, Philippines, Tokyo, , Mexico City, Barcelona, Santiago, Chile, Auckland, Amsterdam, Buenos Aires, Los Angeles, Australia, Dakar, Baltimore, Ireland, Rome, Vilnius, Lithuania, Paris
IATA predicted this year will beat the pre-pandemic record for air travel. But both Boeing and Airbus jets are having problems that are reducing capacity. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In December 2023, the International Air Travel Association predicted 2024 would break records for the most air passengers ever. But airlines are warning they'll have fewer seats available than they initially thought, as both Boeing and Airbus are dealing with problems.
Persons: , Martha Neubauer, Dave Calhoun, Boeing's, Willie Walsh Organizations: Boeing, Airbus, Service, International Air Travel Association, Reuters, Airlines, Max, Ryanair, Alaska Airlines, Federal Aviation Administration, Pratt & Whitney, London Starbucks Locations: London
JetBlue's checked bag fees change depending on when you travel. It costs $5 more to check your first bag during peak season, and $10 for your second bag. From March 22, traveling during JetBlue's peak season means it will cost an extra $5 to check your first bag. During off-peak season, it costs $60 to check in a bag instead of the $35 when traveling within North America. For example, easyJet says its checked bag fees, "vary depending on the route selected, flight and time of booking."
Persons: , easyJet Organizations: Service, JetBlue, American Airlines, Ryanair Locations: North America
United Airlines has asked its pilots to take unpaid leave this summer and possibly into the fall. Across airlines, summer fliers may see disrupted flight schedules and pricier tickets. AdvertisementIn an early blow to summer travel, United Airlines has asked its pilots to take an unpaid leave next month, citing delayed aircraft deliveries from Boeing. Related storiesThe specific changes to United's summer flight lineup were not immediately available. Last week, the US Federal Aviation Administration said it was increasing scrutiny of United to ensure the airline's compliance with safety regulations.
Persons: , Richard Aboulafia, Scott Kirby Organizations: Airlines, Service, United Airlines, Boeing, CNBC, United, Air Line Pilots Association, Business Insider, Ryanair, Transportation, Southwest Airlines, Alaska Airlines, US Federal Aviation Administration Locations: Frankfurt, Oregon, San Francisco, Japan
Exactly how much Calhoun will receive isn’t clear yet, as it depends on how Boeing’s stock performs. According to Boeing’s most recent proxy statement, Calhoun is set to walk away with about $15 million worth of stock, cash and options in retirement. One estimate, according to Fortune, suggests Calhoun could walk away with $24 million, with the potential to collect $45.5 million more if Boeing’s stock goes up 37%. And while Muilenburg was denied severance pay, he still walked away with $80 million worth of stock and other assets. Even as the board heaped praise on Calhoun, Boeing’s own customers started sounding off about their frustrations with the leadership.
Persons: CNN Business ’, Dave Calhoun, he’ll, There’s, Calhoun, Dennis Muilenburg, Muilenburg, , CNN’s Chris Isidore Organizations: CNN Business, New York CNN, Boeing, Ryanair, Avalon Locations: New York, America, Calhoun, Washington, South Carolina, Seattle
O'Leary said the company found leftover tools and missing seat handles in new Boeing planes. AdvertisementThe boss of Europe's largest airline told CNN last week that it would regularly find leftover tools under the floorboards of Boeing planes, as well as missing seat handles. "In 2022 and 2023, we were finding little things like spanners under the floorboards, in some cases, seat handles missing, things like that," O'Leary told CNN on March 20. The Ireland-based low-cost carrier only flies Boeing aircraft and is one of the aircraft manufacturers' biggest customers. Related storiesThis isn't the first time O'Leary has said there's a lack of quality control on Boeing planes.
Persons: Michael O'Leary, O'Leary, , David Calhoun Organizations: Boeing, Ryanair, Service, CNN, Europe's, Alaska Airlines Locations: Dublin, Ireland, Seattle
Boeing CEO David Calhoun will step down from the embattled plane maker at the end of the year as part of a broad management shakeup Monday after a series of mishaps at one of America's iconic manufacturers. Stephanie Pope, the company's chief operating officer for less than three months, has taken over leadership of the key division. Boeing has been under intense pressure since early January, when a panel blew off a brand-new Alaska Airlines 737 Max. Airline executives have expressed their frustration with the company, and even minor incidents involving Boeing jets have attracted extra attention. Pope, 51, was promoted to Boeing chief operating officer only in January.
Persons: David Calhoun, Stan Deal, Stephanie Pope, Lawrence Kellner, Calhoun, , Max, , ” Calhoun, Dennis Muilenburg, Brian West, Steven Mollenkopf, Jason Gursky, Pope, Gursky, Richard Aboulafia, Patrick Shanahan —, Trump, AeroSystems, ” Cai von Rumohr, Cowen, Michael O’Leary, he’s, Michelle Chapman Organizations: Qualcomm, Boeing, Alaska Airlines, Max, Federal Aviation Administration, FAA, Citi, U.S, Defense, Irish, Ryanair, , Boeing Co, AP Locations: Seattle, Indonesia, Ethiopia, Arlington , Virginia, Alaska, Calhoun, New York
New York CNN —Boeing CEO Dave Calhoun said Monday he intends to leave the beleaguered company by the end of the year in a major shakeup of the company’s leadership. The company also announced that Stan Deal, CEO of Boeing Commercial Airplanes, is retiring. The problems have led to multiple groundings for safety issues and more than $31 billion in cumulative losses. But it comes in the face of widespread criticism of the company by CEOs of many of the world’s major airlines Boeing depends upon to buy its planes. Any Boeing customer shifting to Airbus could find itself waiting until 2030 or beyond to get its planes delivered.
Persons: Dave Calhoun, Larry Kellner, Steve Mollenkopf, Stan Deal, Stephanie Pope, Max, Calhoun, , Let’s, “ I’ve, Boeing won’t, Michael O’Leary, O’Leary, Scott Kirby, Ben Minicucci, Dennis Muilenburg, Muilenburg, Calhoun’s Organizations: New, New York CNN, Boeing, Qualcomm, Alaska Airlines, Max, CNBC, Alaska Air, ” Airlines, Ryanair, Europe’s, CNN, , ” United Airlines, United, Airbus, Virgin America Locations: New York, Alaska, ” United
CEO Michael O'Leary is set for a $109 million bonus dependent on the company's stock price rising. He told the Journal it's "very good value for Ryanair shareholders" compared to star soccer players. AdvertisementThe CEO of ultra-low-cost airline Ryanair told The Wall Street Journal his potential $109 million bonus is "very good value" compared to star athletes. Mbappé, the captain of the French national team and arguably the best soccer player in the world, has agreed to a signing bonus of 150 million euros ($162 million) across five years with Real Madrid, the BBC reported. "The funny thing we've learned over the years is actually the bad publicity sells far more seats than the good," O'Leary told The Journal.
Persons: Michael O'Leary, , it's, O'Leary Organizations: Ryanair, Europe's, Service, Wall Street, Financial Times, Journal, Real, French national, Real Madrid, BBC Locations: Real Madrid
Executives from several US carriers have expressed doubt about the Boeing 737 Max delivery schedule. Southwest expects 42% fewer jets this year, while United told Boeing to stop making the Max 10. AdvertisementCustomers may soon feel the impact of the Boeing 737 Max blowout as airlines face uncertainty about their future fleets. The airline also said it doesn't expect to receive any of the yet-to-be-certified Max 7s this year and removed them from its 2024 plan. Airlines may look to Airbus to grow their fleetsThe Airbus A320neo competes with the Boeing 737 Max.
Persons: , Max, Scott Kirby, Ed Bastian, Bastian, Richard Aboulafia, Michael O'Leary, Henry Harteveldt, Harteveldt, Kirby Organizations: Boeing, Max, Southwest, United, Service, Alaska Airlines, Delta Air Lines, Southwest Airlines, United Airlines, Bloomberg, JPMorgan, Delta Air, Ryanair, Airbus —, Airbus, Frontier Airlines, Spirit Airlines, Reuters Locations: Alaska, Delta
But the company also had three canceled orders in January, giving it zero net orders for that month, the worst month for sales in years. Rebound from worst month since pandemicJanuary had been the worst month for sales for Boeing since airlines were struggling with massive losses during the pandemic. The last time Boeing had between one and three gross orders was in June, 2020, when it had only one jet order. The company sold 10 of the troubled 737 Max jets in February, all to unidentified customers. Southwest had planned to also take delivery of a total of 79 737 Max jets, but it no longer expects to get any of the 737 Max 7 jets it had hoped to get this year.
Persons: That’s, Max Organizations: New, New York CNN, Boeing, Alaska Airlines, Alaska Air, Southwest, Royal Brunei Airlines, United Airlines, Ryanair, Sun Express, , China Southern, FAA, Max, Federal Aviation Administration Locations: New York, Alaska, Singapore, United, Southwest, Air India, flydubai, Korean, – Air China, China Southern, Xiamen, Shandong, Donghai, China
Birgir Jónsson is the CEO of Play, an Icelandic airline offering cheap transatlantic flights. Jónsson told BI how Play keeps costs low, and how important volcanoes are to Icelandic tourism. From 2014 to 2015, he was the deputy CEO of Wow Air, an Icelandic ultra-low-cost carrier that went bankrupt in 2019. AdvertisementHis foray into the sector began as CEO of Iceland Express, which was acquired by Wow. While other airlines had to avoid the country's airspace — lengthening journey times — Play got planes at discount prices.
Persons: , Jónsson, Icelandair, it's, York's, New Orleans —, Etienne De Malglaive, Los Angeles —, They're Organizations: Jónsson, Service, Wow, Iceland Express, Icelandic Post, Southwest, Ryanair, York's Stewart, Airbus, North, British Airways Flight, Nasdaq, Russia Locations: Icelandic, Europe, New York, London, Reykjavík, Romanian, Manhattan, Iceland, New Orleans, Eyjafjallajökull, India, Los Angeles, California, Dubai, Russia
Back in 2022, it appeared to make light of social-media rumors about Prince William. Ryanair's former head of social said Kensington Palace asked for a tweet about William to be taken down. AdvertisementRyanair took down a viral X post after Kensington Palace complained, its former social media chief told the podcast "Creator Playbooks." "We actually started to put language in like 'Prince William' and all these things, and if we would have done that we were toast. Ryanair and Kensington Palace did not immediately respond to requests for comment from Business Insider.
Persons: Prince William . Ryanair's, William, , Selena Gomez's, Prince William, Michael Corcoran, Corcoran, we're Organizations: Ryanair, Service, Irish, Business Locations: Kensington,
Two Ryanair flights on the same route were disrupted by fighting passengers six days apart. A major UK union has now raised its concerns with airports and airlines, per the BBC. "It's totally unacceptable that any worker has to confront threats of verbal or physical abuse," a union staffer said. AdvertisementA labor union has raised its concerns with airports and airlines about the rise in unruly passengers, the BBC reported. "The proliferation in incidents of anti-social behavior and threats towards workers at airports and on flights is deeply concerning," he said.
Persons: , Pat McIlvogue Organizations: Ryanair, Service, BBC, Business Locations: Scotland
Why checked bag fees are at record highs
  + stars: | 2024-03-02 | by ( Nathaniel Meyersohn | ) edition.cnn.com   time to read: +7 min
Checked bag fees are hitting record highs as airlines up the ante. So an airline can save $75 million in tax fees off its $1 billion revenue in domestic checked-bag fees. The introduction of bag fees was also a response to the rise of low-price carriers like Spirit in the United States and Ryanair in Europe. But airlines kept the bag fees in place and even raised them in an effort to make up for the lost revenue from change fees. Bag fees have been a political punching bag.
Persons: they’ve, Gary Leff, , Henry Harteveldt, Blaise Waguespack, Sen, Mary Landrieu, ” Leff, Pete Buttigieg, Leff, Organizations: New, New York CNN, United Airlines, American Airlines, JetBlue, Alaska Airlines, Airlines, Department of Transportation, Delta SkyMiles American Express, Airlines ’, “ Airlines, Atmosphere Research, Embry, Riddle Aeronautical University, Ryanair, The Transportation Department Locations: New York, Denver, Dallas, Daytona Beach , Florida, United States, Europe
London CNN —Ryanair may be forced to cut flights and raise fares in the peak summer season this year because crisis-hit Boeing can’t deliver the planes it promised. Until recently, Ryanair was expecting Boeing to deliver 57 Max 8-200 planes by the end of April, Reuters reported O’Leary as saying. “We don’t really know how many aircraft we’re going to get from Boeing,” he said, according to Reuters. If only 40 aircraft are delivered, Ryanair may have to “announce some minor schedule cuts” by the end of March, O’Leary was reported as saying. I think we (will) get some modest compensation out of Boeing,” O’Leary said.
Persons: Michael O’Leary, Max, O’Leary, , airfares, “ It’s, ” O’Leary, , David Calhoun, Brian West Organizations: London CNN, Ryanair, Boeing, Alaska Airlines, Reuters, CNN Locations: Ryanair’s Ireland
CEO Michael O'Leary said the message he's getting from Boeing is "confusion." AdvertisementDelays with Boeing's building of planes could mean price increases for customers flying on Europe's biggest budget airline, the BBC reported. Ryanair is one of Boeing's biggest customers and exclusively uses the 737. Its CEO, Michael O'Leary, said fares could go up 10% because it won't have all the planes it ordered on time, per the BBC. This story is available exclusively to Business Insider subscribers.
Persons: Michael O'Leary, Organizations: BBC, Boeing, FAA, Service, Ryanair, Business
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