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☆ Europe's revenue growth expected to slow to a crawl in Q4
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Pedro NunesLONDON, Jan 24 (Reuters) - Revenue at Europe's largest companies is expected to have risen by just 0.9% in the fourth quarter, Refinitiv I/B/E/S data showed on Tuesday, down from 27.4% in the third quarter and the slowest growth rate since the fourth quarter of 2020. The forecast, which tracks companies listed on the pan-European STOXX 600 (.STOXX) benchmark index, represents a drop from last week when analysts expected revenue growth of 4%. Earnings for STOXX 600 companies are expected to have increased 9.5% in the fourth quarter, down from 10.7% a week ago, Refinitiv I/B/E/S said. When results from the energy sector are excluded, Refinitiv I/B/E/S said earnings were expected to have increased by 4.6% and revenue by just 0.3% in the final three months of the year. Nine firms have reported revenue, with 77.8% beating expectations, compared to a typical quarter when 58% beat estimates.

☆ Greek police search Ryanair passenger plane over bomb threat
▼ + stars: | 2023-01-22 | by ( ) www.reuters.com time to read: +1 min

[1/2] Passengers of a Ryanair plane ride on a bus, after their flight landed at Athens' International Eleftherios Venizelos airport, following a bomb threat in midair, on the outskirts of Athens, Greece, January 22, 2023. REUTERS/Alkis KonstantinidisATHENS, Jan 22 (Reuters) - Police on Sunday were searching a Ryanair (RYA.I) passenger plane that landed at Athens International Airport for any suspicious items after receiving an alert for a bomb threat, police officials said. The plane, which was flying from Katowice in Poland to Greece arrived in Athens escorted by two fighter jets at 5:35 p.m. (1535 GMT). Police were later searching passengers as they were disembarking and their luggage was lined up outside the aircraft. Reporting by Renee Maltezou and Alkis Konstantinidis Editing by Frances KerryOur Standards: The Thomson Reuters Trust Principles.

"Our industry is still climbing out of - call it a 100-year event, call it a macro shock of epic proportions. "We are bullish and these are the reasons why I suspect there's a disconnect between the Davos in Switzerland and the Davos in Dublin," Cronin told Reuters. "It's a good time to be a lessor," said Tony Diaz, chairman of the smaller Zephyrus Aviation Capital. It's probably easy to take that second one too," Robert Korn, president and co-founder of fast growing Carlyle Aviation Partners, added. Additional reporting by Tim Hepher and Joanna Plucinska Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

Lufthansa has offered to buy an initial minority stake in ITA, Italy's state-owned successor to Alitalia, it said on Wednesday. "This may be the next step in European airline consolidation," said Bernstein analyst Alex Irving, citing Portugal's national airline, TAP, as a prime target. Lufthansa, Air-France KLM (AIRF.PA) and British Airways owner IAG (ICAG.L) are potential buyers, analysts said. "At the same time, however, we closely monitor consolidation in the European airline market." Michael O'Leary, the outspoken CEO of fellow low-cost airline Ryanair (RYA.I), also weighed in with his predictions this week.

[1/2] FILE PHOTO-Planes of German air carrier Lufthansa are parked as Lufthansa pilots start a strike over a wage dispute, at the airport in Frankfurt, Germany, September 2, 2022. REUTERS/Kai PfaffenbachROME/FRANKFURT, Jan 18 (Reuters) - German carrier Lufthansa (LHAG.DE) said on Wednesday it had offered to buy an minority stake in ITA Airways, betting on reviving the loss-making successor to Italy's Alitalia and expanding its footprint in Europe. One of the sources said it was valued at 200-300 million euros ($540 million). The new right-wing administration in Rome passed a decree in December to initially sell a minority stake through capital increases, in order to speed up a full divestment in ITA. "Acquiring ITA is one of the most challenging propositions in European aviation: the airline has been persistently loss-making," said Bernstein analyst Alex Irving.

☆ Ryanair CEO sees high single digit air fare rise in 'very strong' summer
▼ + stars: | 2023-01-12 | by ( Angelo Amante | ) www.reuters.com time to read: +3 min

[1/4] Ryanair CEO Michael O'Leary poses for a photo after an interview with Reuters in Rome, Italy, January 12, 2023. "The outlook for the summer at the moment is very strong, strong booking, strong pricing," the CEO of Europe's largest airline by passenger numbers said in an interview after announcing new routes from Italy. "I think there is a reasonable prospect that this summer again we will see high-single digit price increases, certainly for short-haul European air travel," he said, despite risks from new variants of the coronavirus and adverse developments in Ukraine. "We don't worry too much about recession or consumer spending because that would drive more and more people to low cost airlines like Ryanair," he added. ($1 = 0.9265 euros)Reporting by Angelo Amante, editing by Jane Merriman and Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ Ryanair sees high single digit air fare rise in 'very strong' summer
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: +1 min

[1/2] Ryanair CEO Michael O'Leary poses for a photo after an interview with Reuters in Rome, Italy, January 12, 2023. REUTERS/Guglielmo MangiapaneROME, Jan 12 (Reuters) - Ryanair (RYA.I) believes the outlook for summer travel is very strong with a reasonable prospect of average European short-haul air fares rising by a high single digit percentage, Chief Executive Michael O'Leary told Reuters on Thursday. He had previously said the airline would be lucky to get 40 by June. Reporting by Angelo Amante, writing by Padraic Halpin in Dublin. Editing by Jane MerrimanOur Standards: The Thomson Reuters Trust Principles.

☆ Big Pharma drags European shares down; inflation data in focus
▼ + stars: | 2023-01-05 | by ( Bansari Mayur Kamdar | ) www.reuters.com time to read: +3 min

The market was hoping the minutes could be a "blueprint to a pivot," said Danni Hewson, an analyst at AJ Bell. Healthcare stocks (.SXDP) dragged, with pharma giants like Novartis AG (NOVN.S) and Sanofi (SASY.PA) shedding more than 1% each. Investors await producer price data, due at 1000 GMT, for clues on the impact of the European Central Bank's aggressive tightening to tamp down inflation. Retail stocks were battered last year, posting their worst annual performance since 2008, as rising interest rates and high inflation put pressure on household budgets. Reporting by Bansari Mayur Kamdar in Bengaluru Editing by Vinay Dwivedi and Eileen SorengOur Standards: The Thomson Reuters Trust Principles.

☆ Airline passengers missed their flight after being locked in an airport corridor for half an hour: 'It felt like we were being held hostage'
▼ + stars: | 2023-01-05 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Several Ryanair passengers missed their flight on Monday after they were locked in a corridor. A Ryanair spokesperson said "human error" had led "regrettably" led to the incident. A spokesperson for Ryanair told Insider that a "human error" had led to the passengers being unable to "exit the pre-boarding area doors" and "regrettably" missing the flight. "People were banging on the walls calling for help," Raval told MyLondon. "Ryanair provided affected passengers with overnight accommodation and moved them onto the next available flight," it added.

☆ European shares muted, UK outperforms as China-exposed stocks jump
▼ + stars: | 2022-12-28 | by ( Bansari Mayur Kamdar | ) www.reuters.com time to read: +3 min

The region-wide STOXX 600 (.STOXX) was flat as of 9:31 GMT, while the FTSE 100 <.FTSE> advanced 0.7% as commodity-linked and China-exposed stocks jumped in early trading. The UK market, which was closed for holidays since its half-day trading on Friday, is playing catch-up, analysts said. The FTSE 100 index has benefited this year from its exposure to commodities as prices of oil and base metals have rallied amid the Russia-Ukraine war. Meanwhile, STOXX 600 was headed for an annual loss of 12.2% as concerns about an economic recession due to aggressive monetary policy tightening by central banks globally weighed on the European index. The technology sector (.SX8P) weighed on STOXX 600 on Wednesday, tracking the overnight fall in U.S. peers as rising yields pressured the interest rate sensitive shares, a recurring theme this year.

☆ Ryanair agrees four-year pay deal with Irish pilots union
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +1 min

DUBLIN, Dec 20 (Reuters) - Ryanair (RYA.I) has agreed a four-year pay deal with its Irish pilots union, including immediate restoration of pay that was cut to help the airline through the COVID-19 pandemic, it said on Tuesday. The budget carrier earlier said it had reached similar agreements with all its pilots unions except those in Ireland and Belgium. "This agreement, which includes annual pay increases for the next four years, now brings our Irish pilots into line with similar pay restoration deals concluded with our other pilot unions across Europe," Ryanair People Director Darrell Hughes said in a statement. The deal was agreed after talks at the country's Workplace Relations Commission, Ryanair said. The Irish airline, which was hit by significant pilot strikes in 2018, experienced minor disruption from strikes by cabin crew last summer.

☆ Ryanair agrees pay deal with Irish pilot union
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: 1 min

DUBLIN, Dec 20 (Reuters) - Ryanair (RYA.I) on Tuesday said it had agreed a four-year pay deal with its Irish pilot union that includes an immediate restoration of COVID-19 pay cuts. "This agreement which includes annual pay increases for the next 4 years now brings our Irish pilots into line with similar pay restoration deals concluded with our other pilot unions across Europe," Ryanair People Director Darrell Hughes said in a statement. Writing by Conor Humphries; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ UBS says shares in this global airline are set to soar by 55%
▼ + stars: | 2022-12-07 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Shares of London-listed airline easyJet are set to soar by 55% over the next year, according to UBS. The Swiss investment bank raised its price target to £6 ($7.34) a share after hiking its forecasts for passenger traffic and profitability at the pan-European airline. EasyJet's shares were trading at £3.87 on Tuesday afternoon, about 70% below its pre-pandemic levels. A recent decline in global oil prices and the dollar index works favorably for easyJet, analysts at UBS said. UBS forecasts the airline will reach 91% of its 2019 passenger volumes next year and return to pre-pandemic levels in 2026.

☆ Rolls-Royce uses hydrogen produced with wind and tidal power to test jet engine
▼ + stars: | 2022-12-02 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +4 min

The test used a converted regional aircraft engine from Rolls-Royce, with hydrogen produced at the European Marine Energy Centre in Orkney. LONDON — Plans to reduce the significant environmental effects of aviation took a step forward this week after Rolls-Royce and easyJet said they had carried out the ground test of a jet engine that used hydrogen produced from tidal and wind power. The test, which was carried out at an outdoor site in the U.K., used a converted regional aircraft engine from London-listed Rolls-Royce. "This is a true British success story, with the hydrogen being used to power the jet engine today produced using tidal and wind energy from the Orkney Islands of Scotland," Shapps added. Using hydrogen to power an internal combustion engine is different to hydrogen fuel cell technology, where hydrogen from a tank mixes with oxygen, generating electricity.

☆ UK airline easyJet says holiday demand holding up
▼ + stars: | 2022-11-29 | by ( Sarah Young | ) www.reuters.com time to read: +3 min

The outlook could give investors confidence that holiday bookings can hold up despite the growing pressure on household budgets from high inflation, energy prices and rising mortgage rates. Historically demand for flights has tended to track economic growth and easyJet's biggest market, Britain, is already in recession. For the current winter period, the airline said Christmas ticket yields were up about 18% amid strong demand for travel. "EasyJet does well in tough times," Chief Executive Johan Lundgren said in a statement on Tuesday. ($1 = 0.8341 pounds)Reporting by Sarah Young, Editing by Paul Sandle and Kate HoltonOur Standards: The Thomson Reuters Trust Principles.

☆ Ryanair will be lucky to get 40 new Boeing jets by June - CEO
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: 1 min

DUBLIN, Nov 29 (Reuters) - Ryanair (RYA.I) will be lucky to receive 40 Boeing (BA.N) 737 MAX aircraft by the end of June from the 51 due for delivery, Chief Executive Michael O'Leary said on Tuesday, potentially impacting the airline's planned growth for 2023. "We're contracted to get 51 aircraft from Boeing before the end of April. We will be lucky to get 40 aircraft by the end of June next year and that's critical to our continued growth," O'Leary told a Eurocontrol event. Ryanair plans to grow from a record 168 million passengers this financial year to 185 million next. O'Leary said earlier this month that he was concerned Boeing might fall 5-10 aircraft short, knocking 1 or 2 million from that target.

☆ ITA Airways to expand fleet with 39 new aircraft in 2023
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +1 min

ROME, Nov 11 (Reuters) - ITA Airways will next year refresh its fleet with 39 new aircraft, allowing it to serve more long-distance destinations, the state-owned successor to Alitalia said on Friday. ITA "has underwritten all the commitments for increasing the fleet in 2023, next year 39 new generation aircraft will enter into service" including nine wide-bodied Airbus A330-900, the company said in a statement. Older aircraft will discontinue service, ITA said, stating that the upgrade will mean a 73% increase in the ASK (available seat kilometre) metric, measuring passenger carrying capacity. By the end of 2023, ITA said it will have 96 planes, half of which will be new, including the single-aisle A321Neo. ITA was established in late 2020 from the ashes of bankrupt Alitalia, and has yet to turn a profit.

☆ China's biggest air show opens under cloud of zero-COVID policy
▼ + stars: | 2022-11-08 | by ( Reuters Staff | ) www.reuters.com time to read: +4 min

BEIJING (Reuters) -A scaled-down version of China’s biggest air show opened on Tuesday, with some delegates unable to attend because of the country’s zero-COVID policy as virus case numbers there reached their highest level in six months. The show’s organisers did not immediately respond to a request for comment. The zero-COVID policy comes amid a broader decoupling from the West in the aerospace industry as China aims for increased self-reliance and watches the effects of strict export sanctions placed on Russia’s aviation industry because of that country’s invasion of Ukraine. China Southern did not immediately respond to a request for comment. China is also showing off a FH-97A “Loyal Wingman” drone model designed to coordinate with crewed aircraft, the Global Times reported.

☆ Ryanair expects to emerge as Europe's only major low-cost carrier
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +2 min

DUBLIN, Nov 7 (Reuters) - Ryanair (RYA.I) on Monday predicted it would eventually become Europe's only major low-cost carrier, with Chief Executive Michael O'Leary claiming a widening gap on costs would make rivals easyJet (EZJ.L) and Wizz (WIZZ.L) takeover targets. "Europe is inexorably moving towards a similar out-turn as North America where you will have three very large, somewhat higher cost, high-fare connecting carriers, and one very large low cost carrier" in Ryanair, O'Leary said. Wizz chief executive Jozsef Varadi, who has always maintained his cost base is comparable to Ryanair's, last week said he did not see his airline as a takeover target. But he said the British airline was being forced by Ryanair to retreat in other markets like Italy and Portugal. Wizz, O'Leary said, was making progress with expansion in the Middle East but was retreating in the face of Ryanair expansion in some parts of its core central and eastern Europe region.

☆ Ryanair hails 'very strong' recovery with record summer profit
▼ + stars: | 2022-11-07 | by ( Conor Humphries | ) www.reuters.com time to read: +3 min

The Irish airline, Europe's largest by passenger numbers, earned 1.371 billion euros ($1.36 billion) in the six months to the end of September, the first half of its financial year. While that was just short of a forecast of 1.385 billion in a company poll of analysts, it was well ahead of its previous first-half record of 1.29 billion euros in 2017. "We expect these strong fundamentals will continue to underpin robust traffic and average fare growth for the next 18-months at least," he said. Profit and traffic are poised for "very strong growth" until 2025 assuming oil prices remain relatively stable, he added in a video presentation. However, while the airline is planning for the deliver of 51 737 MAX aircraft by next summer, O'Leary said he was concerned Boeing might fall short.

☆ Ryanair reports record summer profit, sees 'very strong' recovery
▼ + stars: | 2022-11-07 | by ( Conor Humphries | ) www.reuters.com time to read: +3 min

Ryanair earned 1.371 billion euros ($1.36 billion) in the six months to the end of September. While the winter will be loss-making, Ryanair expects an after-tax profit of between 1 billion and 1.2 billion euros for the year to March 31, though that forecast remains "hugely dependent" on no adverse shocks. "Concerns about the impact of recession and rising consumer price inflation on Ryanair’s business model have been greatly exaggerated in recent months," O'Leary said in a statement. "We expect these strong fundamentals will continue to underpin robust traffic and average fare growth for the next 18-months at least," he said. In a pre-recorded video presentation he predicted very strong growth in profit and traffic over the next three years assuming oil prices remain relatively stable.

☆ Ryanair posts record profit for key summer season
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +2 min

DUBLIN, Nov 7 (Reuters) - Ryanair (RYA.I) on Monday posted its largest ever after-tax profit for the first half of its financial year, which includes the key summer months, and said it hoped to post a profit of at least 1 billion euros for its full financial year. The Irish airline, Europe's largest by passenger numbers, said it had earned 1.371 billion euros ($1.36 billion) in the six months to the end of September. That compared with a forecast of 1.385 billion in a company poll of analysts and its previous first-half record of 1.29 billion euros in the six months to end-September 2017. Ryanair said it was hopeful it could deliver an after-tax profit of between 1 billion and 1.2 billion euros for the year to March 31. ($1 = 1.0053 euros)Writing by Conor Humphries; Editing by Lincoln FeastOur Standards: The Thomson Reuters Trust Principles.

☆ Airlines face fragile winter, Ryanair CEO says after record summer profits
▼ + stars: | 2022-11-07 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: 1 min

Ryanair on Monday reported record summer profits, but CEO Michael O'Leary warned that the winter is likely to be "very fragile." "We look set for a strong winter but I'm conscious last year we had omicron at the end of November which crushed Christmas and the Ukraine invasion crushed Easter," O'Leary told CNBC's "Squawk Box Europe" on Monday. The Irish airline posted its largest ever after-tax profit for the six months to September at 1.37 billion euros ($1.37 billion) on Monday. There was an expectation that demand could shrink as the cost-of-living crisis takes its toll on household budgets across Europe, but appetite for travel is still there, he said.

☆ European shares gain ground on boost from travel stocks
▼ + stars: | 2022-11-07 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +3 min

REUTERS/StaffSummarySummary Companies Flutter, Ryanair lead travel stocks higherTravel & leisure index hits near 3-month highsChina-exposed luxury companies declineIrish stocks rallyNov 7 (Reuters) - European shares rose on Monday, reversing declines from the opening bell, as a jump in travel stocks helped outweigh a drag from China-exposed luxury giants. The benchmark STOXX 600 index (.STOXX) added 0.6% by 0929 GMT, extending gains after its fourth straight weekly rise. Flutter Entertainment Plc rose 4.5%, boosting European travel & leisure stocks (.SXTP) by 2.3% and helping it touch a near three-month high. European luxury stocks, including LVMH (LVMH.PA), Pernod Ricard (PERP.PA) and Hermes International (HRMS.PA), dipped between 0.1% and 0.4%. Dutch fertiliser maker OCI (OCI.AS) fell 3.7% to the bottom of the STOXX 600 after J.P. Morgan cut its rating on the stock on softer quarterly outlook.

☆ Stocks making the biggest moves midday: Carvana, Meta, Palantir, Viatris, Walgreens and more
▼ + stars: | 2022-11-07 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Check out the companies making the biggest moves midday:Carvana — Carvana shares shed more than 15%, with trading briefly halted at one point due to volatility. Walgreens raised its fiscal year 2025 sales goal for its U.S. health-care business to $14.5 billion to $16.0 billion, from $11.0 billion to $12.0 billion to account for the deal. Viatris — The global health-care company rallied 16% after it announced it intends to create an ophthalmology franchise by acquiring Oyster Point Pharma and Famy Life Sciences. The toymaker's shares shed nearly 60% last Friday after it delivered disappointing quarterly results and issued a weak forward guidance that included a fourth-quarter loss. DoorDash — Shares of the food delivery company rallied 2.5% after being upgraded by Oppenheimer to outperform from perform.

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