KL911 From Czech Republic, joined Jul 2003, 5300 posts, RR: 15 Posted (10 years 4 months 2 weeks 6 days 16 hours ago) and read 2863 times:
Ryanair, Europe’s No. 1 low fares airline, today (Tuesday, 3rd August 2004) announced record profits for Q1 ended 30 June 2004 of €53.1m. Passenger volumes grew by a record 28% to 6.6m passengers whilst yields declined by 6% during the quarter and, as a result, total revenues rose by 23% to €302.8m. Unit costs fell by 4% and in turn the net margin after tax remains stable at an industry leading 18%.
Announcing these results, Ryanair’s Chief Executive, Michael O’Leary said:
“These record quarterly results reflect the continued disciplined roll out of Ryanair’s low fares model. Passenger volumes grew by 28% to 6.6m in the quarter and we carried more passengers in 3 months than the total traffic carried by Aer Lingus in a full year. Our two new bases at Rome Ciampino and Barcelona Girona have performed particularly well. Ryanair’s strong performance is also reflected in the recent increases in monthly traffic and load factors.
“Yields were 6% lower than last year, a decline that was towards the lower end of our -5% to -10% guidance. Our forward yield guidance remains unchanged. In Quarter 2 we anticipate a yield decline of between –5% to -10%. Next winter, we expect the yield decline to be in the –10% to – 20% range as chronically loss making competitors will continue to dump prices, resulting in even more airline casualties this winter.
JGPH1A From , joined Dec 1969, posts, RR:
Reply 3, posted (10 years 4 months 2 weeks 6 days 13 hours ago) and read 2784 times:
I wonder if FR aren't on to a cunning plan with these 1p seats they offer. One of the big problems normal airlines face when offering deep discounts, is brand dilution. You don't want your regulars who stump up your higher fares to down-sell and buy your cheaper products. FR's yield management dictates that as the flight fills up, the seats get more expensive. By offering lots of their seats at these insanely low prices, FR is able to sell tickets to people who would otherwise not have flown at all. Once these Neds have bought their 1p tickets, usually 5 minutes after the flight opens for sale, FR bumps the price of the remaining seats up according. So the people who would have flown anyway, by the time they get round to booking, are stuck with the EUR100.00 o/w fares - because they are not discretionary travellers, they book the flight anyway. Pretty smart - you end up with 100 people on board, 50 of whom paid 1p and 50 of whom paid EUR100 (ie. EUR5000.50) instead of 50 people on board (who would have travelled anyway), who would have paid paid only EUR25.00 if the discretionary chancers hadn't booked first (ie. EUR2500 for the flight).
GKirk From UK - Scotland, joined Jun 2000, 24964 posts, RR: 56
Reply 5, posted (10 years 4 months 2 weeks 6 days 11 hours ago) and read 2735 times:
"Once these Neds have bought their 1p tickets, usually 5 minutes after the flight opens for sale, FR bumps the price of the remaining seats up according"
Neds? Unlike the fools that fly on the likes of BA then? Nowt wrong with the 1p fares
"Passenger volumes grew by 28% to 6.6m in the quarter and we carried more passengers in 3 months than the total traffic carried by Aer Lingus in a full year."
I would hope so, considering that EI is focussed mainly on 1 base and FR has several
When you hear the noise of the Tartan Army Boys, we'll be coming down the road!
7LBAC111 From United Kingdom, joined Jul 2004, 2566 posts, RR: 35
Reply 7, posted (10 years 4 months 2 weeks 6 days 11 hours ago) and read 2712 times:
Everyone seems to forget however, that the strong year-on-year growth figures were flattered by the fact that a year ago Ryanair bought its faltering rival Buzz, sustaining substantial restructuring costs which weakened that quarter's results.
Debate is what you put on de hook when you want to catch de fish.
This is an interesting read as it draws a comparison when reviewing events to the British Airtours tragedy at Manchester.
It points out a number of shortcomings with the evacuation and also the general handling of the situation - it is worth noting that it states that Ryanair's training met JAR-OPS requirements.
Of the four safety recommendations made as a result of the incident, three are directed to the CAA and one to the Irish CAA & JAA.
Read the AAIB report completely and carefully, and then compare it with the Scotsman.com report.
You'll see that the Scotsman.com report omits a number of points and thus by implication points the finger of blame somewhat more at Ryanair than the AAIB do.
Teva From France, joined Jan 2001, 1875 posts, RR: 15
Reply 10, posted (10 years 4 months 2 weeks 6 days 10 hours ago) and read 2689 times:
I know it is an old incident.
I can read, thank you.
However, this article is recent (posted yesterday) because the report has just been published.
And the report points the deficiencies of Ryanair in terms of training .
Ecoute les orgues, Elles jouent pour toi...C'est le requiem pour un con