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☆ Ryanair to cut flights this winter due to Boeing delivery delays
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +2 min

Sept 28 (Reuters) - Ryanair (RYA.I) announced on Thursday cuts to its winter schedule due to delays in the delivery of Boeing (BA.N) aircraft, but Europe's largest airline by passenger numbers said its full-year traffic forecast was unaffected "as yet". Ryanair said in a statement that it had expected to receive delivery of 27 aircraft between September and December. But due to production delays at the Spirit Fuselage facility in Wichita, Kansas, combined with Boeing repair and delivery delays in Seattle, it now expects to receive only 14 aircraft during the three-month period. "At this early date, we do not expect these delivery delays will materially affect our full-year traffic target of 183.5 million,” Group Chief Executive Michael O'Leary said. Ryanair had expected delivery of 57 Boeing aircraft between September 2023 and May 2024.

Persons: Michael O'Leary, Yadarisa, Conor Humphries, Nivedita Bhattacharjee, Sharon Singleton, Susan Fenton Organizations: Ryanair, Boeing, ”, East, Porto, Thomson Locations: Wichita , Kansas, Seattle, Charleroi, Belgium, Dublin, Bergamo, Naples, Pisa, East Midlands, Portugal, Cologne, Germany, Bengaluru

The Treasury will issue new economic targets on Wednesday providing the framework for a budget in which Meloni will attempt to keep her tax-cutting promises while also lowering the fiscal deficit. "This budget is Meloni's first real economic test since she came to power last October," said Tim Jones, euro zone analyst for market consultancy firm Medley Advisors. Meloni has much less room for manoeuvre than when she hiked deficit targets in her first budget a year ago. Episodes targeting airlines and investors in Italy's 307- billion-euro ($326.74 billion) bad loan market have followed a similar pattern. Meloni subsequently said no measures were planned regarding non-performing loans, but her party's proposal is still before parliament and uncertainty persists.

Persons: Giorgia Meloni, Meloni, Tim Jones, she's, Morgan Stanley, Reuters.G Rome, Roberto Perotti, Meloni's, Valentina Za, Francesco Canepa, Giuseppe Fonte, Sara Rossi, Gianluca Semeraro, Ed Osmond, Giselda Organizations: Treasury, Advisors, European Central Bank, Reuters, Ryanair, Milan's, Bank of, ECB, Thomson Locations: ROME, Italy, Greece, Rome, Italian, Italy's, Brussels, EU, Milan

☆ Ryanair cuts routes from Dublin home base, says more incentives needed
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +1 min

Employees work on a Ryanair plane preparing to take off at the Rosalia De Castro airport in Santiago de Compostela, Spain June 24, 2022. The Irish airline, Europe's largest by passenger numbers, cited Dublin Airport Authority's increased passenger charges and a failure to deliver a "meaningful" environmental incentive scheme as motivation for the decision. The Dublin Airport Authority said in a statement that Ryanair was exaggerating the size of increased charges and that the authority was consulting with airlines about a proposed scheme to incentivise lower-emission aircraft in 2024. It said Dublin Airport's passenger numbers had recovered to pre-pandemic levels and that it had no need to incentivise new growth given a capacity limit under the airport's planning permission. Ryanair frequently cuts capacity from airports during disputes over charges and typically allocates aircraft to airports and regions offering the best growth incentives.

Persons: Rosalia De, Nacho, Eddie Wilson, Padraic Halpin, Conor Humphries, Kylie MacLellan Organizations: Ryanair, REUTERS, Rights, Boeing, MAX, Luton Airport, Irish, Dublin Airport Authority, Thomson Locations: Rosalia De Castro, Santiago de Compostela, Spain, Dublin, Italy

☆ Facing fares row, Ryanair hit by new antitrust probe in Italy
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +2 min

Ryanair said on Wednesday that internal Italian flights to Sicily would be cut by 10% in its latest winter schedule, blaming the government's planned price cap. Eddie Wilson, the chief executive of Ryanair DAC, the biggest airline in the Ryanair group, said the airline opposed the measure despite the modification. During a visit to Sicily, Wilson contrasted Ryanair's expansion of foreign flights to and from the island with the reduction on domestic routes. "Italian domestic growth has sadly been negatively impacted by the Italian government's unlawful price cap decree to restrict airlines’ freedom to set low air fares," Wilson said in a statement. Ryanair has already reduced its domestic schedule for flights to Sardinia over the winter.

Persons: International Eleftherios Venizelos, Alkis, Eddie Wilson, Wilson, Alvise Armellini, Keith Weir, Cristina Carlevaro, Jason Neely, Barbara Lewis Organizations: Ryanair, Company, Europe's, International Eleftherios, REUTERS, Ryanair DAC, Thomson Locations: Italy, Sicily, ROME, Athens, Greece, Sardinia

While a civil suit lodged against KLM (AIRF.PA) in the Netherlands is one of the most prominent, complaints and cases against other airlines have been mounting. Lockwood said the ASA would use machine learning tools to scan online advertising to catch potentially misleading wording. Separately, the Austrian advertising watchdog told Lufthansa's Austrian Airlines arm last year to stop making claims about a carbon neutral flight using biofuel. The lawsuit alleges that carbon offset programmes don't work as advertised and the company misled consumers. The company is investing in newer planes and sustainable fuel to "decarbonise" its operations, the person added.

Persons: Miles Lockwood, Lockwood, Joanna Plucinska, Mark Potter Organizations: KLM Airlines, Fossielvrij, Dutch, KLM, Airlines, Ryanair, Lufthansa, Etihad, Standards Authority, ASA, Reuters, Lufthansa Group, Austrian Airlines, Delta Air Lines, Delta, Thomson Locations: Netherlands, Amsterdam, Austrian, Los Angeles

☆ A passenger on budget airline Ryanair was awarded over $30,000 in damages after she fell on 'narrow and steep' plane steps and broke her leg in 2 places
▼ + stars: | 2023-09-11 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

A Ryanair passenger fell down the aircraft steps while disembarking and broke her leg, per El Periódico. The budget airline has been ordered to pay her $33,000 in compensation. Local outlet Diario de Seville reported that the woman was holding the staircase handrail and carrying luggage when she suffered the "horrendous fall." That allows for the budget airline to save on airport fees for jet bridges or stair cars. But the judge at the Commercial Court of Seville said the Ryanair plane's staircase "was especially narrow and steep," per El Periódico.

Persons: El Periódico Organizations: Ryanair, Service, Irish, Spanish, Diario, Seville, Boeing, Europa Press, Montreal Convention Locations: El, Wall, Silicon, deplaning, Seville, Alicante, Spain

☆ Ryanair CEO pied in the face by climate activists in Brussels
▼ + stars: | 2023-09-07 | by ( Lauren Kent | ) edition.cnn.com time to read: +2 min

London CNN —The CEO of Ryanair, Michael O’Leary, was pied in the face during a Thursday visit to Brussels in a stunt by climate activists. Ryanair says it has so far collected 1.8 million signatures on its online petition from members of the public. The incident was captured on video, and the activists can be heard shouting: “Welcome in Belgium. O'Leary stands in front of a lifesize cardboard version of Ursula von der Leyen, the EU Commission president. After being pied, the head of Europe’s largest airline carried on talking to the media outside the EU building, saying, “We’re here to discuss the petition.

Persons: Michael O’Leary, O’Leary, “, Michael O'Leary, O'Leary, Ursula von der Leyen, ”, — Organizations: London CNN, Ryanair, European Commission, EU Commission, EU, RTL, Reuters, International Energy Agency, Twitter Locations: Brussels, Belgium, Ukraine

☆ Ryanair traffic hits new record in August, up 12% year on year
▼ + stars: | 2023-09-04 | by ( ) www.reuters.com time to read: +1 min

DUBLIN, Sept 4 (Reuters) - Ryanair (RYA.I) flew 12% more passengers in August than in the same month last year, it said on Monday, its latest all-time traffic record in what is typically its busiest month. Europe's largest airline by passenger volume said it flew 18.9 million passengers in August, up from 16.9 million a year earlier and up from 14.9 million in August 2019, before the COVID-19 pandemic hit. It achieved its previous record, 18.7 million passengers, in July. The Irish airline has said it expects traffic in the financial year to March 2024 to grow by 9%, to around 183.5 million passengers. Writing by Conor Humphries; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Conor Humphries, Jason Neely Organizations: DUBLIN, Ryanair, Irish, Citi, Thomson Locations: Western Europe, Eastern Europe

More than 1,500 flights were cancelled on Monday - a public holiday in parts of Britain, and one of the busiest travel days as the school holidays draw to close - when air traffic controllers were forced to switch to manual systems due to a technical problem. Ryanair, Europe's biggest airline, would be operating a normal schedule by Wednesday, said boss Michael O'Leary, as he criticised how Britain's National Air Traffic Services (NATS) had handled the situation. Harper chaired a meeting on Tuesday with NATS, the Civil Aviation Authority (CAA), airlines, airports, trade bodies and Border Force. EasyJet (EZJ.L) said that the knock-on impact meant some flights were cancelled on Tuesday morning. Heathrow Airport, Britain's busiest hub, told passengers to contact their airline before travelling to the airport on Tuesday.

Persons: Maria Ball, Charles De Gaulle, Mark Harper, Michael O'Leary, haven't, O'Leary, Raphael Satter, Rishi Sunak, Sunak, Harper, NATS, Cirium, Sarah Young, Padraic Halpin, Farouq Suleiman, Kate Holton, Alistair Smout, Alison Williams, Mike Harrison Organizations: British, Ryanair, Europe's, Air Traffic Services, REUTERS, Civil Aviation Authority, CAA, Border Force, Aviation, British Airways, Heathrow, Thomson Locations: Europe, Britain, Liverpool, England, Paris, Edinburgh, London, Stansted, NATS

Flight crew smelled smoke coming from the bathroom on a flight from Turkey to Leeds, UK, in 2021. On the flight from Turkey to Leeds, England, on October 12, 2021, the flight crew smelled smoke coming from the bathroom and suspected the passenger, Arshad Khan, of smoking a cigarette. When they confronted Khan, he denied it and became "more and more aggressive," prosecutor Harry Crowson told Leeds Crown Court. The outlet said Khan initially told officials he had no comment and then later claimed someone had planted the weapons. In May of this year, another passenger was also hauled off a flight in the UK after being caught smoking in the bathroom.

Persons: Arshad Khan, Khan, Harry Crowson, Robin Mairs Organizations: Border Force, Yorkshire Evening, Leeds Crown Court, Leeds Bradford Airport, UK Border Force, Ryanair, Manchester Evening News Locations: Turkey, Leeds, Yorkshire, England, Spain, Manchester

☆ A Ryanair flight was forced to divert mid-air after a drunk family argument erupted into violence, report says
▼ + stars: | 2023-08-06 | by ( Sophia Ankel | ) www.businessinsider.com time to read: +2 min

A Ryanair flight to the Canary Islands was forced to divert mid-air after a brawl broke out. But the flight had to land in Portugal as two family members were "beating each other," police said. A Ryanair flight was forced to divert mid-air on Friday after a family fallout erupted into violence, officials said. The violent argument forced the pilot to divert the plane mid-air and make an emergency landing in Faro, Portugal — which is around 900 miles away, police said. It is unclear what their argument was about, though police confirmed they were both members of the same family.

Organizations: Ryanair, Canarian, Scottish Sun, Gran Canaria Locations: Portugal, Edinburgh, Scotland, Canary, Faro, Gran

☆ Lufthansa upbeat as leisure travel demand remains high
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +2 min

Lufthansa logo is seen displayed in this illustration taken, May 3, 2022. Lufthansa rival IAG (ICAG.L) last month said it was "mindful" of uncertainty in the wider economy, even as it reported consensus-beating quarterly profit, and Ryanair (RYA.I) was cautious on demand for the rest of 2023. In April to June, Lufthansa's adjusted earnings before interest and tax nearly tripled to 1.09 billion euros ($1.19 billion), slightly above consensus for 1.04 billion, from 341 million a year earlier. For the full year 2023, it now expects adjusted EBIT to come to more than 2.6 billion euros, having previously forecast a significant increase from last year's 1.5 billion. ($1 = 0.9148 euros)Reporting by Maria Sheahan Editing by Miranda Murray and Friederike HeineOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Maria Sheahan, Miranda Murray, Friederike Heine Our Organizations: Lufthansa, REUTERS, Deutsche Lufthansa, Airlines, IAG, Ryanair, Austrian Airlines, SWISS, Boeing, Airbus, Thomson Locations: BERLIN, Asia, China, Japan

[1/2] An Airbus A380 of German air carrier Lufthansa is seen at the airport in Frankfurt, Germany, February 12, 2019. REUTERS/Kai Pfaffenbach/File PhotoBERLIN, Aug 3 (Reuters) - The boom in holiday travel shows no signs of ending, German airline group Lufthansa (LHAG.DE) said on Thursday, as advance bookings for this winter and next year were already a double-digit percentage above the year-earlier level. "Demand will remain exceptionally strong for the foreseeable future," Lufthansa Chief Executive Carsten Spohr told journalists during a conference call as the group published better-than-expected quarterly profits. British Airways owner IAG (ICAG.L) said the outlook for summer travel was encouraging, although it was "mindful" of uncertainty in the wider economy. For the German airline, Spohr said an unimpeded trend towards more premium-class flights, especially among leisure travellers, has underpinned yields and he expected ticket prices to remain at current levels for the foreseeable future.

Persons: Kai Pfaffenbach, Carsten Spohr, Spohr, Maria Sheahan, Josephine Mason, Sharon Singleton Organizations: Airbus, Lufthansa, REUTERS, Ryanair, British Airways, IAG, Thomson Locations: Frankfurt, Germany, Europe's

☆ Investors still see blue sky ahead for Europe travel stocks as boom abates
▼ + stars: | 2023-07-31 | by ( Danilo Masoni | ) www.reuters.com time to read: +4 min

"For many people, the pandemic is now over, and this is time now for travelling far from home," said Corinne Martin, fund manager at Ofi Invest in Paris. The point at which China announced the end of health restrictions in 2022 was probably the best moment to jump into travel stocks. They remain buyers, noting how at 11 times 2024 earnings, the stock displays an unjustified discount and prices no growth. "Now, vacation budget is no more a variable families adjust," said Jerome Schupp, fund manager at Prime Partners in Geneva. European travel and leisure earnings are seen rising 63% this year and 23% in 2024, according to Refinitiv Datastream.

Persons: Corinne Martin, Ofi's Martin, Martin, Goldman Sachs, Jerome Schupp, Schupp, Cristina Matti, Andrea Scauri, Lastminute, Refinitiv, Lucy Raitano, Conor Humphries Organizations: MILAN, Ofi Invest, Paris . Airlines, Royce, World Tourism Organization, China, Traders, Paris Olympics, UEFA European Football, Ryanair, Europe's, Prime Partners, Visa, Air, Thomson Locations: Paris, Europe, Germany, Geneva, Air France, Lemanik, London

Yet a sharp drawdown in the excess savings created by COVID-19 could be a curve ball that slams into bullish sentiment. U.S. excess savings have fallen to around $500 billion from around $2.1 trillion in August 2021, the San Francisco Federal Reserve estimates. In Europe, Deutsche Bank reckons excess savings in Sweden, struggling to contain a property slump, have dwindled. Reuters GraphicsRUNNING OUTDefinitions for excess savings differ, but economists generally agree that this means savings that went beyond trend levels during the pandemic. Cardano chief economist Shweta Singh said U.S. pandemic excess savings are likely to be depleted by year-end.

Persons: Rachel Adams, Janus Henderson, Oliver Blackbourn, Shweta Singh, Guy Miller, Jamie Dimon, Ben, Eren Osman, Arbuthnot Latham, Janus Henderson's Blackbourn, U.S . Russell, Russell, Goldman Sachs, Blackbourn, Zurich's Miller, Simon Bell, Guilluame Paillat, Paillat, Naomi Rovnick, Sharon Singleton Organizations: Oxford, REUTERS, San Francisco Federal, Deutsche Bank, Reuters, Insurance Group, Ryanair, JPMorgan, Unilever, U.S ., London's, Bank of, Aviva, Thomson Locations: Britain, London, China, Europe, U.S, Sweden, United States, downturns, Australia

☆ British Airways-owner IAG beats forecasts, mindful of uncertainty ahead
▼ + stars: | 2023-07-28 | by ( ) www.cnbc.com time to read: +1 min

IAG's quarterly profit beat analyst forecasts by 40% and the British Airways parent company said the outlook for summer travel was encouraging, although it warned it was "mindful" of uncertainty in the wider economy. IAG, which also owns Iberia, Aer Lingus and Vueling, did not on Friday provide an update on its full-year guidance. It had said in May it expected annual profit above the top end of a 1.8 billion euros to 2.3 billion euros range. IAG said in its statement that while there was no sign of weakness in forward bookings it was "mindful of wider uncertainties that might affect the full year." For the three months to the end of June, the group recorded an operating profit before exceptional items of 1.25 billion euros ($1.37 billion), compared to the 895 million euros analysts were on average expecting.

Persons: IAG Organizations: British Airways, Aer Lingus, Air France, KLM, Friday, Ryanair, British, Heathrow Locations: Iberia, Aer, Europe

But so far, IAG had not seen "any weakness into Q3 and Q4", finance chief Nicholas Cadbury added. In May, it said it expected annual profit above 2.3 billion euros ($2.5 billion), and analysts' consensus forecast stands at 2.8 billion euros. For the three months to the end of June, the group recorded an operating profit before exceptional items of 1.25 billion euros, compared to the 895 million euros analysts were on average expecting. "These numbers will help push expectations for this year strongly through the 3 billion euro operating profit level," Goodbody analysts said. ($1 = 0.9106 euros)Reporting by Sarah Young; Editing by Kate Holton and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

Persons: Luis Gallego, IAG, Nicholas Cadbury, Sarah Young, Kate Holton, Mark Potter Organizations: British Airways, Air France, KLM AIRF.PA, Ryanair, Aer Lingus, Thomson Locations: Iberia, Aer, IAG, Europe

☆ Airlines report soaring profits amid travel demands
▼ + stars: | 2023-07-28 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +3 min

CNN —International airlines have reported significant profits this year, boosted by strong demand for leisure travel – and events, such as the World Cup, which gave Qatar Airlines an enormous lift. On Thursday, International Airlines Group, which includes Aer Lingus and British Airways, announced a record profit of about $1.4 billion for the first half of the year. “Customer demand remains strong across the Group, particularly for leisure travel, with around 80% of passenger revenue for the third quarter already booked. Qatar Airways reported a $1.2 billion profit for the past fiscal year, ascribing its strong performance to December’s FIFA World Cup. In its report, Qatar Airways said that, throughout the 2022 World Cup, the company operated around 140,000 flights to bring more than 1.4 million people to Qatar.

Persons: Luis Gallego, Benjamin Smith, Akbar Al Baker, Michael O’Leary, – CNN’s Mostafa Salem, Pierre Meilhan Organizations: CNN — International, Qatar, International Airlines Group, Aer Lingus, British Airways, KLM Group, Amsterdam Schiphol Airport, Olympic, Paralympic Games, Air, Qatar Airways, KLM, FIFA, Ryanair, Europe’s Locations: AirFrance, Amsterdam, France, Air France, Qatar

☆ Privacy group challenges Ryanair's use of facial recognition
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +2 min

DUBLIN, July 27 (Reuters) - Digital rights group NOYB on Thursday filed a complaint against Ryanair (RYA.I), alleging that it is violating customers' rights to data protection by using facial recognition to verify their identity when booking through online travel agents. NOYB, led by Austrian privacy activist Max Schrems, filed the complaint with Spain's data protection agency on behalf of a complainant who booked a Ryanair flight through the Spanish-based online travel agency eDreams ODIGEO. The low-cost carrier said the steps are required to manage the passenger's booking, online check-in and to comply with safety and security requirements. NOYB has successfully launched privacy challenges against some of the world's largest multinational companies across the European Union under the bloc's General Data Protection Regulation (GDPR), introduced in 2018. NOYB alleged that Ryanair's verification procedures are not valid under the GDPR because it does not provide comprehensible information about the purpose of the "intrusive process."

Persons: NOYB, Max Schrems, eDreams ODIGEO, Padraic Halpin, Louise Heavens Organizations: DUBLIN, Ryanair, Irish, European Union, Data Protection, Thomson Locations: Austrian, Spanish

☆ Exclusive: Amazon has drawn thousands to try its AI service competing with Microsoft, Google
▼ + stars: | 2023-07-26 | by ( Jeffrey Dastin | Thomson Reuters | Jeffrey Dastin Is A Correspondent For Reuters Based In San Francisco | ) www.reuters.com time to read: +3 min

REUTERS/Gonzalo Fuentes/File PhotoJuly 26 (Reuters) - Amazon.com’s (AMZN.O) cloud division has drawn thousands of customers to try out its service vying with Microsoft (MSFT.O) and Google (GOOGL.O) in a key area of artificial intelligence, an executive told Reuters. "Our mission is to make every company an AI company," said Sivasubramanian, in an interview pegged to a summit the cloud provider hosted in New York. Amazon Bedrock is the company's answer to services announced by Google and Microsoft, cloud rivals that have developed or marketed AI garnering significant public attention. Microsoft has invested in OpenAI, the startup that created ChatGPT and the AI model known as GPT-4. The cloud provider announced Agents for Amazon Bedrock, which lets businesses create chatbots that execute tasks and give more personalized answers drawing from their proprietary data.

Persons: Gonzalo Fuentes, Swami Sivasubramanian, Sivasubramanian, Jeffrey Dastin, Stephen Nellis, Chizu Nomiyama, Daniel Wallis Organizations: Viva Technology, Porte de, REUTERS, Microsoft, Google, Reuters, Sony, Ryanair, Sun, Thomson Locations: Porte, Paris, France, New York, OpenAI, Silicon

☆ Ryanair cautious about winter travel after quarterly profit soars
▼ + stars: | 2023-07-24 | by ( ) www.cnbc.com time to read: +3 min

Ryanair on Monday struck a cautious tone about travel demand for the rest of the year and cut its passenger growth forecast due to Boeing delivery delays after its quarterly profit flew past pre-pandemic levels. Ryanair shares, up 26% so far this year on the back of a post-pandemic travel boom, were 4.3% lower at 15.74 euros in early trade. That compared to 170 million euros a year ago when the travel rebound began and beat the previous high for the first quarter of its fiscal year, 397 million euros in 2017. A company poll of analysts had expected a 620 million euro profit. Ryanair said it remained cautiously optimistic about a modest increase in full-year profit and that it hoped to be in a position to provide more meaningful guidance in November.

Persons: Michael O'Leary, " O'Leary, O'Leary, AeroSystems, Neil Sorahan, Sorahan Organizations: Ryanair, Boeing, Irish, Reuters, easyJet Locations: Europe

☆ European markets lower; fresh data shows rising recessionary risks
▼ + stars: | 2023-07-24 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

LONDON — European markets were mixed on Monday as investors digest the inconclusive results of Spain's election and look ahead to a busy week of corporate earnings and central bank meetings. The pan-European Stoxx 600 moved lower in early afternoon deals, falling 0.1%, with all major bourses trading in negative territory. Fresh data pointed to a slowdown in business activity in France, Germany and the U.K. in July, adding to recessionary risks in Europe. Markets in Asia-Pacific were mixed Monday as investors digested key economic data from across the region. Japan's the Nikkei 225 gained 1.29% to start the week after new data showed business activity expanded for a seventh straight month.

Persons: Switzerland's Julius Baer Organizations: Sunday, European Central Bank, Nikkei, Bank of Japan, Federal Reserve, Meta, Microsoft, Vodafone, Ryanair, Italy's Locations: France, Germany, Europe, Asia, Pacific

☆ Europe’s largest airline just sounded the alarm on travel demand
▼ + stars: | 2023-07-24 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —The travel industry has defied a global economic slowdown, enjoying record bookings and profits as pent-up demand following the pandemic fueled spending on air tickets and hotels. Ryanair (RYAAY), Europe’s largest airline by passenger numbers, warned Monday that high inflation and rising interest rates could dent appetite for air travel in the second half of the year. The airline now expects to carry 183.5 million passengers in the 12 months ending in March 2024. The Dublin-based airline — which on Friday announced plans to return to Ukraine within weeks of the war ending — forecast “modest” profit growth for the full year. The latest figure marks a significant turnaround for the aviation industry, which suffered net losses of $183 billion between 2020 and 2022 as pandemic lockdowns hit travel.

Persons: “ We’re, Michael O’Leary, ”, Jet2, O’Leary, — Organizations: London CNN, Ryanair, EasyJet, Boeing, International Air Transport Association Locations: Europe’s, Ukraine, Dublin

☆ What’s ahead this week for Wall Street and the economy
▼ + stars: | 2023-07-23 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

Case Shiller house price index for May and consumer confidence for July from the Conference Board. Earnings reports from AT&T, Boeing, Meta Platforms, Mattel, Stellantis and Chipotle Mexican Grill. Earnings reports from Coca-Cola, Mondelez, Honeywell, Keurig Dr Pepper, Royal Caribbean, Anheuser-Busch Inbev, Southwest Airlines and Hershey. Friday: Personal Consumption Expenditures price index for June, Employment Cost Index for the second quarter and University of Michigan consumer sentiment for July. Earnings reports from Procter & Gamble, Chevron and Exxon Mobil.

Persons: Jerome Powell, David Smith, Powell, Christopher Waller, ”, Dustin Thackeray, Tesla, Chris Isidore, —, Case, Dr Pepper Organizations: CNN Business, Bell, CNN, Fed, Traders, Rockland Trust, Big Tech, Microsoft, Meta, Crewe Advisors, Nasdaq, Netflix, Safety, Health Administration, doesn’t, Biden Administration, Bureau of Labor Statistics —, Ryanair, Federal Reserve, Conference Board, General Motors, Daniels, Midland, Verizon, PacWest, Boeing, Mattel, Honeywell, Anheuser, Busch Inbev, Southwest Airlines, Hershey, University of Michigan, Procter & Gamble, Chevron, Exxon Mobil Locations: Rockland, American, United States, PacWest Bank, Royal Caribbean

☆ Ryanair will return to Ukraine within weeks of war ending
▼ + stars: | 2023-07-21 | by ( Hanna Ziady | ) edition.cnn.com time to read: +2 min

London CNN —Ryanair is planning to connect major airports in Ukraine to almost two dozen European capitals within weeks of the country’s airspace reopening when the war ends. Ryanair (RYAAY) said in a statement Thursday it would offer flights to and from Ukraine within eight weeks of that happening. Speaking from Kyiv, Ryanair CEO Michael O’Leary said the carrier would “charge back” into Ukraine after the war. “The visit of Ryanair senior management to Boryspil Airport is a powerful signal that the largest airline in Europe sees huge potential in the Ukrainian air transport market,” said Boryspil International Airport CEO Oleksiy Dubrevskyy. The move highlights Ukraine’s sustained efforts to court international investors, as it plans for its future after the war.

Persons: Michael O’Leary, O’Leary, “, ”, Oleksiy Dubrevskyy, Philips —, Volodymyr Zelensky Organizations: London CNN, Ryanair, Boeing, European Union Aviation Safety Agency, European Union, Kherson —, Boryspil, Boryspil International, Conference, Citi, Sanofi, Philips, BlackRock, JPMorgan, Ukraine Development Fund Locations: Ukraine, Kyiv, Lviv, Odesa, Kharkiv, Kherson, ”, Ukrainian, Europe, London

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