Menu
02/11/2009
Airlines 'Threaten' Own Expansion
There is trouble 'in the air' today as Irish budget airline Ryanair has said it may stop expanding its business if it does not get a 'better deal' on new aircraft from Boeing, while British Airways is winging its way toward pre-festive strike action.
Ryanair - which uses London Stansted as a major hub - is in talks with Boeing about buying 200 aircraft, but its flamboyant boss said that if prices are not cut it will return cash to shareholders instead of buying planes.
That's in spite of the announcement of growth in six-month profits.
Pre-tax profits came in at €419.4m ($619.4m;£376.2m), up from €105.2m in the same period last year.
Ryanair said that its results were distorted by a 42% fall in fuel costs, but added that its average fare had fallen by 17% and also that - while the profit figure showed impressive growth from the first half of 2008 - it was still 9% below the level from the same period of 2007.
It warned investors that it planned to cut average fares by about 20% in the next six months, which would mean it would make a loss for the second half of the year.
Meanwhile, British Airways staff could strike at Christmas unless a plan to impose job cuts and changes in work patterns is cancelled, the Unite union is warning.
Cabin crew are attending a meeting at Sandown Park racecourse in Surrey to discuss a strike ballot, with the union describing the changes as unworkable.
BA lost £401m last year and is forecast to post further large losses this week.
The airline said changes are essential to its survival and it has not broken contractual terms and conditions.
BA plans to reduce the existing complement of 15 service crew members on long haul flights by one later this month and has proposed a pay freeze for two years.
Unite is also seeking a High Court injunction to stop the changes but BA says it will fight the application, arguing that it hasn't broken any contracts.
See: Ryanair See Soaring Profits Rise
(BMcC/KMcA)
Ryanair - which uses London Stansted as a major hub - is in talks with Boeing about buying 200 aircraft, but its flamboyant boss said that if prices are not cut it will return cash to shareholders instead of buying planes.
That's in spite of the announcement of growth in six-month profits.
Pre-tax profits came in at €419.4m ($619.4m;£376.2m), up from €105.2m in the same period last year.
Ryanair said that its results were distorted by a 42% fall in fuel costs, but added that its average fare had fallen by 17% and also that - while the profit figure showed impressive growth from the first half of 2008 - it was still 9% below the level from the same period of 2007.
It warned investors that it planned to cut average fares by about 20% in the next six months, which would mean it would make a loss for the second half of the year.
Meanwhile, British Airways staff could strike at Christmas unless a plan to impose job cuts and changes in work patterns is cancelled, the Unite union is warning.
Cabin crew are attending a meeting at Sandown Park racecourse in Surrey to discuss a strike ballot, with the union describing the changes as unworkable.
BA lost £401m last year and is forecast to post further large losses this week.
The airline said changes are essential to its survival and it has not broken contractual terms and conditions.
BA plans to reduce the existing complement of 15 service crew members on long haul flights by one later this month and has proposed a pay freeze for two years.
Unite is also seeking a High Court injunction to stop the changes but BA says it will fight the application, arguing that it hasn't broken any contracts.
See: Ryanair See Soaring Profits Rise
(BMcC/KMcA)
Related UK National News Stories
Click here for the latest headlines.
25 November 2014
Accused Changes Plea Over Breck Bednar Murder
A 19-year-old man has admitted the murder of a teenage boy he met while playing video games online. 14-year-old Breck Bednar, of Caterham, Surrey, was found with a stab wound to his neck at a flat in Grays, Essex, in February. Lewis Daynes admitted murder ahead of the jury being sworn in at the start of his trial.
Accused Changes Plea Over Breck Bednar Murder
A 19-year-old man has admitted the murder of a teenage boy he met while playing video games online. 14-year-old Breck Bednar, of Caterham, Surrey, was found with a stab wound to his neck at a flat in Grays, Essex, in February. Lewis Daynes admitted murder ahead of the jury being sworn in at the start of his trial.
05 November 2012
Living Wage Proposals Unveiled
If Labour wins the next election they vow to deliver a "living wage" of at least £7.45 per hour for, according to Ed Miliband. The Living Wage has risen by 25p to £7.45 per hour for those workers across the UK, and to £8.55 per hour for workers in London.
Living Wage Proposals Unveiled
If Labour wins the next election they vow to deliver a "living wage" of at least £7.45 per hour for, according to Ed Miliband. The Living Wage has risen by 25p to £7.45 per hour for those workers across the UK, and to £8.55 per hour for workers in London.
25 August 2010
Poor 'Hit Hardest' By Emergency Budget
The coalition government's emergency Budget has hit the poorest families the hardest, a leading economic think-tank has revealed. The Institute of Fiscal Studies (IFS) said that low income households with children would lose more as a percentage of net income, due to benefit cuts.
Poor 'Hit Hardest' By Emergency Budget
The coalition government's emergency Budget has hit the poorest families the hardest, a leading economic think-tank has revealed. The Institute of Fiscal Studies (IFS) said that low income households with children would lose more as a percentage of net income, due to benefit cuts.
22 January 2004
£163m bill for UK businesses over wrongly addressed mail
Error-strewn letters and packages cost UK businesses around £163 million in 2002, according to research published today by the Royal Mail. The research from Royal Mail indicated that more than two thirds of all business letters had one or more errors – like incorrect addresses or simply that the addressed company had relocated.
£163m bill for UK businesses over wrongly addressed mail
Error-strewn letters and packages cost UK businesses around £163 million in 2002, according to research published today by the Royal Mail. The research from Royal Mail indicated that more than two thirds of all business letters had one or more errors – like incorrect addresses or simply that the addressed company had relocated.
07 November 2008
BA Announces Profits Slump During 'Bleakest' Six Months
British Airways have announced a 91.6% drop in its half year profits in a period which has been described as "one of the bleakest on record". Pre-tax profits of £52 million plummeted from £616 million last year in the six months to September 30. The Heathrow-based airline carrier revealed the massive drops were a result of the surge in oil prices.
BA Announces Profits Slump During 'Bleakest' Six Months
British Airways have announced a 91.6% drop in its half year profits in a period which has been described as "one of the bleakest on record". Pre-tax profits of £52 million plummeted from £616 million last year in the six months to September 30. The Heathrow-based airline carrier revealed the massive drops were a result of the surge in oil prices.
-
Northern Ireland WeatherThis Evening and Tonight:Dry with some late sunshine to end the day. Clear spells through the first part of the night but low cloud feeding in from the north later giving some mist or fog patches. Minimum temperature 8 °C.
