Ryanair's Michael O'Leary is considering copying rival EasyJet by launching package holidays as rock-bottom fares fail to draw profits [Yahoo! Finance]
EASYJET PLC S/ADR (ESYJY)
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Source: Yahoo! Finance
But that's as far as the similarities go. Their earnings in recent months have diverged dramatically—the Dublin-based Ryanair suffered a 46% profit drop in the three months to June 30, while its British rival saw profits jump 16% during the same period. Now, Ryanair wants to up its game, even if that means expanding its business into an area it previously shunned, but that's proven to be a success for its rival. The low-cost carrier is considering offering vacation bundles along with flights in the hope that this will help Ryanair reverse its fortunes. “I wouldn't rule out setting up a holidays division,” Ryanair CEO Michael O'Leary told The Telegraph in an interview. “The holiday product is probably a reasonable way of charging higher fares and yields and for wrapping it into a package.” Ryanair is Europe's largest airline, competing in a market marred by “frugal” customers holiday poverty, and more. That's caused its earnings to take a beating during its peak summer months,
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News
- Spain fines 'abusive' budget airlines 179 mn euros [Yahoo! Finance]Yahoo! Finance
- Michael O'Leary blasts ‘ancient 1960s law' as Spain slaps Ryanair with €108 million fine over ‘abusive' baggage and seating charges [Yahoo! Finance]Yahoo! Finance
- Michael O'Leary blasts ‘ancient 1960s law' as Spain slaps Ryanair with €108 million fine over ‘abusive' baggage and seating charges [Yahoo! Finance Canada]Yahoo! Finance Canada
- Spain slaps $187 million fine on Ryanair, EasyJet and others for 'abusive' cabin luggage fees [MSNBC.com]MSNBC.com
- Spain slaps $187 million fine on Ryanair, EasyJet and others for ‘abusive' cabin luggage fees [CNBC]CNBC