Ryanair bookings up amid fare war
Discount carrier trimmed tariffs on almost 1,000 routes
[LONDON] Ryanair Holdings plc said it's winning a fare war embroiling Europe's network and discount carriers as lower ticket prices spur bookings and charges for reserved seating and priority boarding help lift revenue.
Ryanair shares rose the most since May 20 after the Dublin-based company said non-ticket sales rose 13 per cent in the fiscal third quarter through December and that bookings for the current period are significantly ahead of a year ago.
Europe's biggest discount carrier responded to a tougher pricing environment this winter by trimming tariffs on almost 1,000 routes and grounding about 70 jets to pare capacity. The measures helped boost passenger numbers 6 per cent to 18.3 million in the third quarter, even as it posted a 35.2 million euro (S$60.6 million) loss from the competition over fares.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
Ship that destroyed Baltimore bridge set to move on May 20
Baltic Exchange Shipping Insights
Lamborghini CEO sees fully electric supercars a ways off
Boeing shareholders back outgoing CEO pay deal despite safety woes
US tariffs on Chinese EVs hurt green transition, says XPeng boss
VW, Renault end talks to develop affordable EV