Irish no-frills airline Ryanair has today reported a rise in annual profits despite higher jet fuel costs, which continue to rise due to the political unrest in the Middle East. The budget carrier said fuel costs grew by 37% during the 12-month period to the end of March. Meanwhile, passenger numbers were up 8% in [...]
Irish budget airline Ryanair has today posted a loss of €10.3 million (£8.8 million) in the October to December period, due to the severe wintry weather in Europe last month, as well as the strike action by French air traffic controllers. However, the loss was lower than the €10.9 million reported in the year ago [...]
Irish budget airline Ryanair has today revealed a fall in first quarter net profits – due to the disruption of the volcanic ash cloud. The airline said net profits were down 24% to €93.7 million (£80 million), due to nearly 10,000 flights having to be cancelled, which cost the airline €50 million. Ash from the [...]
Budget airline Ryanair has today announced it returned to profit for the year to March after reporting its first annual loss a year ago. The airline unveiled pre-tax profits of €341 million (£289 million) for the year and said it intends to pay a one-off dividend to shareholders totalling €500 million – the first one [...]
Budget airline Ryanair has confirmed it will go ahead with plans to charge passengers £1 or €1 to use the toilet. The no-frills airline said all onboard toilets will become coin-operated, while the airline is also slashing the number toilets, meaning there may be only one toilet on planes carrying almost 200 passengers. The airline [...]
Irish budget airline Ryanair has today posted a €10.9 million (£9.4 million) loss for the October to December quarter. However, the loss for Europe’s largest no-frills airline was much less than the €101.5 million deficit it posted for the same period a year earlier – when fuel costs were sky-high. The group said the result [...]
Budget airline easyJet has posted a severe fall in profits for the full-year to the end of September as a result of rising fuel costs. The airline posted underlying pre-tax profits of £43.7 million, compared with £123.1 million in the same period a year earlier – a fall of 64.5% However, the no-frills airline said [...]
Budget airline Ryanair is to close or switch nine of its 10 routes from Manchester airport, citing the airport’s refusal to lower its charges. The measures will lead to 600 job losses within the area and the loss of 60,000 passengers a year. However, Manchester airport highlighted that the 600 jobs will be switched to [...]
A dispute with airport owner, BAA, has led Ryanair to reduce its services at Stansted Airport. The budget airline said it will cut the number of aircraft it runs at the Essex airport by 40% in its winter schedule, and will slash the number of flights by 30%, blaming higher charges. The reduction means the [...]
Budget airline Ryanair aims to slash costs and boost profits by asking passengers to stand during flights. Chief executive, Michael O’Leary, has already spoken with US plane manufacturer Boeing about the possibility of designing an aircraft with standing room. Should the proposal gain approval, Ryanair plans to order new jets or refurbish its existing fleet. [...]
More than 2,000 British Airways (BA) cabin crew have rejected the company’s proposals to slash costs by freezing pay and reducing headcount. A deadline of 30 June was set by the company to reach a deal on 3,500 job cuts, a pay freeze and other changes, but no agreement was reached at that time. Speaking [...]
AXA Travel Insurance is to offer travel insurance to passengers of low-cost airline Ryanair following an agreement between the two companies. Under the terms of the deal, starting September 2010, AXA will offer Ryanair’s 67 million passengers single-trip, multi-trip and annual travel insurance policies on ryanair.com. Michael Cawley of Ryanair said the partnership with AXA [...]
Europe’s largest no-frills airline, Ryanair, has posted its first annual loss, which it attribute to rising fuel costs, lower fares and the write-down on the value of its stake in Irish rival Aer Lingus. The airline made a net loss for the 12 months to the end of March of €169 million, compared with a [...]
M&S Money launches 3% cash ISA
M&S Money has launched an Advantage Cash ISA paying 3 per cent, and which allows transfers in from other ISAs. It can be opened with a minimum deposit of £100 lump sum followed by minimum monthly deposits of £25. The 3% rate is variable, but there is no short-term bonus so the return won’t plummet [...]
Google suspends UK Compare Mortgages site
Google has closed its UK mortgage comparison site which it launched in July last year, after it proved to be less popular than expected. Mortgage comparison sites are designed to allow visitors to compare mortgages quickly and easily without having to visit each lender’s individual site. Google was competing with several well-established comparison sites, including [...]
AA launches ‘black-box’ policy for young drivers
The AA is launching an innovative car insurance policy called Drivesafe which could help younger drivers save up to £850 a year. Younger drivers already pay substantially higher premiums than other motorists and these costs are increasing. A new study by Confused.com suggests insurance costs for younger driver have gone up by 5.7 per cent [...]
ATOL scheme updated to protect online bookers
ATOL, a financial protection scheme managed by the Civil Aviation Authority, is being extended to protect up to six million more holidays a year. The scheme ensures that holiday makers do not lose out financially if a travel company collapses, and that they are not stranded abroad. An increase in the number of holidays booked [...]
Home repossessions lowest for four years
The number of UK homes repossessed fell to 36,200 in 2011, significantly below the Council of Mortgage Lenders’ forecast of 40,000, and lower than 2010 when 37,100 homes were repossessed. With interest rates remaining low and lenders adopting a sympathetic attitude to customers in financial difficulty, repossessions fell to their lowest level since 2007. However, [...]
Monthly pay lasting just 17 days
Workers are running out of money just 17 days after receiving their monthly pay, according to new research by the Halifax bank. This means that the average UK worker spends half the month worrying about money. The study, based on the responses of more than 2,000 adults, found that 10 per cent of workers start [...]
Women disadvantaged by auto-enrolment changes
Government proposals to increase the auto-enrolment threshold to £10,000 could put 1.8 million women at risk of missing out on a pension, the TUC has warned. Under the auto-enrolment scheme, which will be phased in from October, private sector employers will automatically enrol workers between the age of 22 years and the state pension age, [...]
Emergency household repairs company Homeserve is taking longer than expected to get back on track after its operations were suspended last October. The company expected customer numbers to fall by 5% this year but it has increased this estimate to 8% and announced the loss of 200 jobs. It estimates that renewal revenue in 2013 [...]
Sale rumoured for Yorkshire and Clydesdale banks
There is growing speculation that National Australia Bank (NAB) may sell Yorkshire Bank and Clydesdale Bank after the Australian parent company announced a strategic review of the two banks’ operations. The Australian economy is performing well and NAB reported strong profits for the final quarter of 2011 but with the UK economy at a virtual [...]
More women experiencing debt difficulties
Women in Debt, which offers female-focused debt advice, has warned that the number of UK women facing serious debt has grown significantly over recent years. The organisation believes that more women will need advice on solving debt problems in the future because they are building up an unsustainable level of indebtedness. Women in Debt’s director, [...]
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