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BRUSSELS, May 10 (Reuters) - Lufthansa (LHAG.DE) suffered a setback on Wednesday after Europe's second-highest court sided with Ryanair (RYA.I) and annulled a European Union competition regulator's decision clearing its state bailout. The court also ruled in Ryanair's favour on Wednesday against pandemic state aid measures for SAS (SAS.ST), saying recapitalisation measures did not include sufficient measures to incentivise the Swedish and Danish governments to exit quickly. "We have seen the ruling by the General Court in the EU and will now review the content of the ruling as well as possible ways to proceed. Lufthansa and several other European airlines received state aid following a protracted travel slump due to the COVID-19 pandemic, all of which were approved by the EU executive subject to conditions. The Commission can appeal to the Court of the Justice of the European Union, Europe's highest, on points of law.

☆ Ryanair wins court challenge against Lufthansa state bailout
▼ + stars: | 2023-05-10 | by ( Foo Yun Chee | ) www.reuters.com time to read: +2 min

BRUSSELS, May 10 (Reuters) - Irish airline Ryanair (RYA.I) on Wednesday won its challenge against Lufthansa's (LHAG.DE) state bailout in 2020 triggered by the coronavirus pandemic as Europe's second-top court cited errors in EU competition regulators' decision to approve the state aid. Ryanair and German peer Condor subsequently challenged the EU decision on Lufthansa. They said the EU competition enforcer also failed to require a mechanism incentivising Lufthansa to buy back Germany’s shareholding as quickly as possible and erred by denying that Lufthansa held significant market power at certain airports. The Commission can appeal to the Court of the Justice of the European Union, Europe's top, on points of law. The joined cases are T-34/21 Ryanair v Commission (Lufthansa; Covid-19) & T-87/21 Condor Flugdienst v Commission (Lufthansa; Covid-19).

☆ EU's Vestager says 'all options on the table' after Lufthansa/SAS rulings
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +1 min

The court sided with Ryanair (RYA.I) in annulling the EU's decision clearing the German government's 6-billion-euro ($6.6 billion) rescue package for Lufthansa. EU Competition Commissioner Margrethe Vestager said she was analysing the rulings as a matter of urgency, aware of the uncertainty on the market. "While it is too early to give any indication as to what the appropriate course of action may be, at this stage all options are on the table," Vestager said in a statement. "There is no immediate and direct link between today's judgments and the ongoing work on the future restructuring of SAS." Reporting by Foo Yun Chee, Writing by Gabriela Baczynska, Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

Investors will look for clues on whether inflation is continuing to ease following the Labor Department's consumer price index (CPI) report on Wednesday. Shares of PayPal Holdings (PYPL.O) dropped and pressured the benchmark S&P 500 after the company cut its margin forecast. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 4, 2023. Under Armour Inc (UAA.N) fell 5.66% as the sports apparel maker forecast its annual sales and profit below street expectations. The S&P 500 posted 14 new 52-week highs and 14 new lows; the Nasdaq Composite recorded 77 new highs and 171 new lows.

Europe's biggest low-cost carrier said it was placing a firm order for 150 of the largest version of Boeing's narrow-body jet family, known as the 737 MAX 10, with options for another 150. The deal delivers a boost to the 737 MAX, Boeing's best-selling jet whose deliveries have been depressed by a two-year safety crisis and post-COVID disruption. "Boeing wanted us to step up the scale and size of the order even to get the discounts that we [got]." Boeing Chief Executive Dave Calhoun countered during a press conference that no premium was high enough for the jet, in a jovial back-and-forth. On Monday, Reuters first reported that Ryanair was close to a major deal for Boeing jets.

Shares of PayPal Holdings (PYPL.O) dropped 12% and led declines on the benchmark S&P 500 index (.SPX) after the company cut its margin forecast. They were also among the top drags on the Nasdaq Composite index (.IXIC). Shares of other Apple suppliers including Qualcomm (QCOM.O), Broadcom (AVGO.O), Qorvo (QRVO.O) and Corning (GLW.N) fell between 1.2% to 2%. The action-packed week will see the release of the much-awaited inflation data on Wednesday. The S&P index recorded 13 new 52-week highs and 12 new lows, while the Nasdaq recorded 52 new highs and 130 new lows.

Ryanair said the order would allow it to almost double its traffic to 300 million passengers per year by March 2034 from the 168 million flown to the end of March this year. On Monday, Reuters first reported that Ryanair was close to a major deal for Boeing jets. But its boss pledged not to overpay for the 30 extra seats, telling Reuters in March he could also order more of the existing 200-seat 737 MAX 8200. Ryanair said the deal was worth $40 billion at list prices, though experts note typical discounts run at more than 50%. "Ryanair operates a 737 fleet and is pretty locked in," with Airbus (AIR.PA) sold out for years and China years away from being to supply the West, Agency Partners analyst Nick Cunningham said.

☆ Ryanair set to order jets from Boeing, burying hatchet after price spat
▼ + stars: | 2023-05-09 | by ( Tim Hepher | ) www.reuters.com time to read: +3 min

PARIS, May 9 (Reuters) - Ireland's Ryanair (RYA.I) is set to bury the hatchet with its exclusive supplier and place a multi-billion-dollar order for Boeing jets on Wednesday, ending an 18-month spat over prices. Boeing (BA.N) said it would make a "major announcement" at 1300 GMT, but gave no further details. The 737 MAX sells for up to $131 million at list prices but typical discounts run at more than 50% and details of final pricing are confidential. But the bond between Ryanair and Boeing loosened following the pandemic as low-cost carriers expanded markets. But he has pledged not to overpay for the 30 extra seats, telling Reuters in March he was also looking at more orders of the 200-seat 737 MAX 8200.

☆ Boeing Wins 737 MAX Jet Order Worth Up to $40 Billion From Ryanair
▼ + stars: | 2023-05-09 | by ( Andrew Tangel | Benjamin Katz | ) www.wsj.com time to read: 1 min

Legacy and low-cost airlines use different models when planning their route networks. We asked a United Airlines global network planner to explain how the process works. Photo illustration: Nayon ChoBoeing struck a deal to sell as much as $40 billion in 737 MAX jets to Ryanair , a victory for the plane maker as it works to re-energize its business and patch up relations with the European discount airline. Ryanair said it agreed to purchase 150 of Boeing’s 737 MAX 10 jets, the longest version of the narrow-body aircraft, with options to buy up to 150 more. The Irish airline, Europe’s biggest by passenger numbers, will use the new planes to significantly grow its market share on the continent over the next decade, executives said.

☆ Boeing Receives Order for Up to 300 Planes From Ryanair
▼ + stars: | 2023-05-09 | by ( Niraj Chokshi | ) www.nytimes.com time to read: +1 min

The NewsRyanair, the European low-cost airline, said on Tuesday that it had agreed to buy 150 737 Max 10 airplanes, its largest-ever Boeing order. At list prices, 150 planes would sell for more than $20 billion, though Boeing and other manufacturers typically agree to deep discounts for such large orders. The jets are expected to replace older, smaller and less-efficient Boeing planes and be delivered between 2027 and 2033. Ryanair expects to fly 225 million passengers in its 2026 fiscal year, up from 149 million passengers a year before the pandemic. In the fiscal year that ended in March 2022, the airline flew 97 million passengers.

☆ Ryanair buys 150 new 737-10 aircraft in its biggest Boeing order ever
▼ + stars: | 2023-05-09 | by ( Hanna Ziady | ) edition.cnn.com time to read: +2 min

London CNN —Ryanair has agreed to buy 150 new Boeing 737-10 aircraft, and taken options on 150 more, inking the largest order ever placed by an Irish company for US manufactured goods. The planes, the largest of Boeing’s (BA) 737 Max aircraft, will be delivered between 2027 and 2033. At a news conference Tuesday, O’Leary said Boeing had made significant progress in catching up, according to Reuters. On prices, the Ryanair CEO said: “In our view it will never be cheap enough and in Boeing’s view it is always far too cheap.”Boeing CEO Dave Calhoun, meanwhile, praised the deal. Ryanair is one of Boeing’s largest customers, with more than 600 planes in its fleet or on order, according to its website.

Shares of PayPal Holdings (PYPL.O) dropped 10.5% and led declines on the benchmark S&P 500 index (.SPX) after the company cut its margin forecast. They were also among the top drags on the Nasdaq Composite index (.IXIC). Shares of other Apple suppliers including Qualcomm (QCOM.O), Broadcom (AVGO.O), Qorvo (QRVO.O) and Corning (GLW.N) fell between 0.9% to 2%. That weighed on shares of high-growth companies, including Apple Inc (AAPL.O) and Microsoft Corp (MSFT.O), which fell about 0.3% each. The S&P index recorded six new 52-week highs and 10 new lows, while the Nasdaq recorded 20 new highs and 54 new lows.

☆ Ryanair orders at least 150 of Boeing's largest 737 Max planes
▼ + stars: | 2023-05-09 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

A Ryanair Boeing 737 MAX 8 aircraft as seen flying, landing and taxiing at Eindhoven Airport EIN. Ryanair said it plans to buy at least 150 Boeing 737 10 Max planes with options for 150 more. Ryanair stopped negotiations for a big Max order in September 2021 because of a dispute over pricing. Ryanair's CEO, Michael O'Leary, said the new planes will replace older 737 jets in its fleet. Boeing's next challenge is ramping up production of the 737 Max.

☆ Boeing and Ryanair CEO on massive Ryanair order for Boeing 737-Max-10s
▼ + stars: | 2023-05-09 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBoeing and Ryanair CEO on massive Ryanair order for Boeing 737-Max-10sMichael O’Leary, Ryanair, and David Calhoun, Boeing, join 'Squawk on the Street' to discuss Ryanair's recent order from Boeing, Calhoun's thoughts on the Boeing 737-Max-10 and more.

☆ Stocks making the biggest moves midday: Palantir, Novavax, Under Armour and more
▼ + stars: | 2023-05-09 | by ( Alex Harring | ) www.cnbc.com time to read: +6 min

Palantir – Palantir shares popped nearly 20% after the software company beat first-quarter estimates and said it anticipates full-year profitability. The firm also reaffirmed full-year revenue guidance and raised its full-year adjusted EBITDA expectations, while cutting 6% of its workforce. Under Armour — The apparel company slipped 5.3% after the company projected earnings per share and revenue to be short of Wall Street expectations for the full-year. Fisker — Shares shed 4.8% after the automotive company's first quarter earnings came in under Wall Street forecasts. Trex Company — Trex Company jumped 8.1% after the maker of wood-alternative decking and railing topped analysts' first-quarter expectations, and issued stronger-than-expected second-quarter revenue guidance.

☆ Ryanair close to placing major Boeing order -sources
▼ + stars: | 2023-05-08 | by ( ) www.reuters.com time to read: +1 min

PARIS, May 8 (Reuters) - Ryanair (RYA.I) is close to signing a major new aircraft order with Boeing (BA.N), two people familiar with the matter said on Monday. The multi-billion-dollar deal for a three-digit quantity of 737 MAX jets could be announced as early as Tuesday, they added, asking not to be named. Boeing and Ryanair declined to comment. Europe's largest budget carrier halted negotiations for at least 100 Boeing 737 MAX jets plus as many options in a pricing dispute some 18 months ago. He said Ryanair was now considering the 200-seat 737 MAX 8200 and the 230-seat 737 MAX 10.

☆ British Airways-owner IAG sees travel rebound lifting forecasts
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +1 min

LONDON, May 5 (Reuters) - British Airways-owner IAG (ICAG.L) said strong ticket sales for summer travel and a winter season which beat expectations meant 2023 profit would come in above its previous forecasts. IAG's positive outlook is in line with Europe's major airlines. Lufthansa, easyJet and Ryanair have all pointed to robust summer bookings, showing consumers prioritising travel spend despite high inflation and an uncertain economic outlook. Air France-KLM (AIRF.PA) on Friday reported better-than-expected first-quarter revenue and said it was seeing strong summer ticket sales. It posted an operating profit before exceptional items of 9 million euros, well above the 179 million euro loss expected by analysts.

☆ Journalist on Ryanair plane diverted by Belarus is jailed for eight years
▼ + stars: | 2023-05-03 | by ( Caleb Davis | ) www.reuters.com time to read: +2 min

[1/2] FILE PHOTO:Opposition blogger and activist Roman Protasevich, who is accused of participating in an unsanctioned protest at the Kuropaty preserve, arrives for a court hearing in Minsk, Belarus April 10, 2017. The circumstances of Protasevich's arrest in May 2021 prompted international outrage and triggered European Union sanctions against Lukashenko. After his arrest, Protasevich was shown on state television tearfully confessing on state television to involvement in anti-government protests and plotting to topple Lukashenko. The exiled Belarus opposition said the admissions were false and had been coerced. Video from state media showed him declining to answer questions from journalists in court about whether he would appeal.

☆ A wheelchair user had to crawl off a plane after assistance failed to show up on time, leaving him 'very embarassed'
▼ + stars: | 2023-05-02 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

A traveler who uses a wheelchair had to crawl down a plane's stairs after assistance failed to show up. A wheelchair user was left to crawl down the metal steps of a plane after his Ryanair flight landed late and there were no lifts available. Adrian Keogh was traveling from Dublin, Ireland to Landvetter Airport in Göteborg, Sweden on Saturday night, for his daughter's 14th birthday. "It was shocking to be honest," Keogh told Insider. Last July, Insider reported that another wheelchair user was left on a Ryanair flight for an hour while staff cleaned the plane around her.

Charles de Gaulle airport is negatively affected, both as a destination and as a hub," said Olivier Ponti, VP of Insights at travel data firm ForwardKeys. Some 33,300 flights were cancelled this year over Easter, compared with 7,800 last year, while 9,000 flights were delayed by more than three hours, compared to 6,800 last year. Around 73% of flights were on time, compared with 76% in 2022 and 81% in 2019. There were 33,700 flights cancelled, compared with 26,600 last year, while 10,800 flights, which made up 1% of all total flights, were delayed by more than three hours, up from 9,500 last year. Air traffic authority Eurocontrol previously warned that delays could continue into the northern hemisphere summer, especially if strikes keep going.

☆ Ryanair does not expect major disruption due to Boeing issues
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: 1 min

DUBLIN, April 17 (Reuters) - Ryanair (RYA.I) does not expect to see major disruption this summer on account of Boeing's (BA.N) decision to halt deliveries of 737 MAX jets over quality issues, a senior executive told Irish broadcaster RTE on Monday. The Irish airline in a statement on Friday said it was assessing with Boeing how the issue, related to certain components made by one of the U.S. firm's main suppliers, would impact the 24 737 aircraft which are scheduled for delivery in the remainder of April, May and June. "We don’t anticipate any major disruption this summer," Eddie Wilson, the head the largest airline in the Ryanair Group, Ryanair DAC, told RTE television. Writing by Conor Humphries, editing by Ed OsmondOur Standards: The Thomson Reuters Trust Principles.

☆ Boeing shares tumble as some MAX deliveries halted, airlines fret over impact
▼ + stars: | 2023-04-14 | by ( Aishwarya Nair | ) www.reuters.com time to read: +3 min

April 14 (Reuters) - Boeing Co (BA.N) shares closed down 5.6% on Friday after the planemaker halted deliveries of some 737 MAX jets due to quality-related problems in certain components made by one of its main suppliers. Boeing, together with Spirit, will have to undertake inspections of the affected MAX 7, MAX 8 and MAX 8200 airplanes and fuselages. "Unlike the recent 787 delivery pause in Q1 ... this issue relates to actual non-conforming parts, which will need to be inspected (at minimum) or reworked. "We see more negative financial exposure to this news at Spirit than at Boeing," J.P. Morgan analyst Seth Seifman said. Southwest Airlines (LUV.N) expects the issue to impact its current delivery schedule, while American Airlines (AAL.O) said it was working with Boeing to understand the effect.

Strikes have rolled through France, Portugal, Britain and Germany in recent weeks and could cause air travel disruption in parts of Europe through the Easter holidays, officials at airlines, airports and air traffic authorities told Reuters. There's no doubt about it," said Steven Moore, who is in charge of air traffic management operations at Eurocontrol. Airlines say they have to pay compensation without themselves getting compensated for air traffic delays. Consumer groups say air traffic control strikes are not new and airlines should be quicker to react and pay compensation. He called last week on the European Commission to do more to stop such strikes hitting overflights, by introducing minimum service rules, though industry experts say strikes are a national issue.

☆ Brands are chasing TikTok views by jumping in on celebrity memes like the one of Pedro Pascal eating a sandwich. Legal experts say it's a risky move.
▼ + stars: | 2023-04-03 | by ( Dan Whateley | ) www.businessinsider.com time to read: +4 min

TikTok memes of celebrities like Pedro Pascal and Finn Wolfhard have taken off on the app. Legal experts told Insider including a celebrity's likeness in a video can be risky for brands. The app is awash with clips of actors like Finn Wolfhard snapping his fingers or Pedro Pascal eating a sandwich. Legal experts told Insider brand accounts should think twice before adding a famous actor's likeness to a video without their explicit permission. Using celebrity memes in videos isn't the only hazard for brands looking to join TikTok trends.

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