Menu
03/06/2008
Ryanair Fares To Stay Low Despite Soaring Fuel Costs
Ryanair is planning to ground up to 10% of his fleet this winter in a move to counter crippling airport charges.
The budget airline saw full year after-tax net profits rise by 10% - other reports have cited 20% - to £381 million.
However, the doubling of landing and handling charges by operator BAA still requires the carrier to cut costs.
Ryanair Chief Executive Michael O'Leary has told Sky News that he will not pass the soaring fuel costs to passengers but that if oil stays at the current price – at around $130 a barrel – the firm will only "break even" in 2009.
"Our fares will stay low but our profits will fall," he said.
Other measure taken to protect the company's profitability are a company wide salary freeze and job cuts at its Dublin call centre.
British Airways (BA) has already increased fuel surcharges.
A spokesman for BA said that the bill for fuel costs was expected to be £3 billion in the current financial year, which is 1 billion higher than last year.
Ryanair has carried 50.9 million passengers during the past year, which is 20% more than 2007.
Mr O'Leary has called for the "break up of the UK's BAA airport monopoly" in the belief that it will bring about "real competition" and improve passenger services and lower airport charges".
On Monday, the International Air Transport Association said that it may "rack up a net loss of $6.1 million" if the oil price remains stagnant.
(DS)
The budget airline saw full year after-tax net profits rise by 10% - other reports have cited 20% - to £381 million.
However, the doubling of landing and handling charges by operator BAA still requires the carrier to cut costs.
Ryanair Chief Executive Michael O'Leary has told Sky News that he will not pass the soaring fuel costs to passengers but that if oil stays at the current price – at around $130 a barrel – the firm will only "break even" in 2009.
"Our fares will stay low but our profits will fall," he said.
Other measure taken to protect the company's profitability are a company wide salary freeze and job cuts at its Dublin call centre.
British Airways (BA) has already increased fuel surcharges.
A spokesman for BA said that the bill for fuel costs was expected to be £3 billion in the current financial year, which is 1 billion higher than last year.
Ryanair has carried 50.9 million passengers during the past year, which is 20% more than 2007.
Mr O'Leary has called for the "break up of the UK's BAA airport monopoly" in the belief that it will bring about "real competition" and improve passenger services and lower airport charges".
On Monday, the International Air Transport Association said that it may "rack up a net loss of $6.1 million" if the oil price remains stagnant.
(DS)
Related UK National News Stories
Click here for the latest headlines.
12 November 2012
MPs To Vote On Fuel Rise Delay
MPs will vote on Monday evening on plans to increase fuel duty by 3 pence a litre in January. Labour have said "it would be wrong" to bring the new rise in s soon an want it delayed until at least April. Conservative MPs concerned about the cost of petrol said they believed Chancellor George Osborne was "in listening mode" over the issue.
MPs To Vote On Fuel Rise Delay
MPs will vote on Monday evening on plans to increase fuel duty by 3 pence a litre in January. Labour have said "it would be wrong" to bring the new rise in s soon an want it delayed until at least April. Conservative MPs concerned about the cost of petrol said they believed Chancellor George Osborne was "in listening mode" over the issue.
19 March 2008
Countdown For Fuel Payments For Pensioners
Over 60s who haven't yet claimed the Winter Fuel Payment have just days to get in touch with The Pension Service to receive help with energy costs. Pensions Minister Mike O'Brien urged older people to get their claim forms in the post before 28 March. The Winter Fuel Payment is £200 for the over 60s rising to £300 for the over 80s.
Countdown For Fuel Payments For Pensioners
Over 60s who haven't yet claimed the Winter Fuel Payment have just days to get in touch with The Pension Service to receive help with energy costs. Pensions Minister Mike O'Brien urged older people to get their claim forms in the post before 28 March. The Winter Fuel Payment is £200 for the over 60s rising to £300 for the over 80s.
07 September 2005
Fuel protests threatened
Protestors have threatened to begin blockading refineries next week, if the tax on fuel is not reduced. Andrew Spence, a spokesperson for the Fuel Lobby, warned that the blockades would begin at 6am on September 14, unless price cuts were made.
Fuel protests threatened
Protestors have threatened to begin blockading refineries next week, if the tax on fuel is not reduced. Andrew Spence, a spokesperson for the Fuel Lobby, warned that the blockades would begin at 6am on September 14, unless price cuts were made.
24 June 2005
British Airways announces ticket price rises
British Airways (BA) has announced an increase in fuel surcharge on ticket prices, due to increasing oil price rises. The longhaul fuel surcharge will increase to £48 per return trip, while the surcharge for shorthaul flights will rise to £16 for a return trip, for all tickets purchased from June 27.
British Airways announces ticket price rises
British Airways (BA) has announced an increase in fuel surcharge on ticket prices, due to increasing oil price rises. The longhaul fuel surcharge will increase to £48 per return trip, while the surcharge for shorthaul flights will rise to £16 for a return trip, for all tickets purchased from June 27.
08 September 2005
BA increases fuel surcharges
British Airways has announced that it is to increase its fuel surcharges on longhaul flights. The rise – the fifth since May 2004 – will increase the cost of the fuel charge on a longhaul one-way flight to £30 and £60 for a return trip, from September 12. The additional charges do not apply to tickets already paid for and issued.
BA increases fuel surcharges
British Airways has announced that it is to increase its fuel surcharges on longhaul flights. The rise – the fifth since May 2004 – will increase the cost of the fuel charge on a longhaul one-way flight to £30 and £60 for a return trip, from September 12. The additional charges do not apply to tickets already paid for and issued.
-
Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
