Tag: Ireland (Page 3 of 4)

Ryanair Tries to Delay Operations Chief’s Flight to easyJet

December 2, 2019 / WIL BALDWIN

FILE PHOTO: Chief Operating Officer Bellew of Ryanair attends a news conference in Frankfurt

DUBLIN (Reuters) – Ryanair <RYAAY> heads to court on Tuesday to try to prevent operations chief Peter Bellew from joining arch-rival easyJet <ESYJY> until 2021.

Europe’s biggest budget airline said in July that the former Malaysia Airlines boss would step down at the end of the year.

But after easyJet announced Bellew’s appointment as its new chief operations officer a week later, Ryanair launched legal proceedings in Ireland’s High Court.

Ryanair argues that all its senior executives commit to non-compete clauses barring them from joining a competitor for 12 months after leaving the Irish airline.

Ryanair boss Michael O’Leary told reporters in September that the only issue was whether Bellew, who is currently working out his notice, can join easyJet on Jan. 1, 2020, or Jan. 1, 2021, a full 18 months after easyJet announced his appointment.

An easyJet spokeswoman declined to comment on the case. Bellew has not commented on the case since Ryanair initiated proceedings.

O’Leary has said the timing of Bellew’s switch is sensitive because of the problems Ryanair is currently having with Boeing’s <BA> grounded 737 MAX jet, which have slowed down its growth plans.

Ryanair is one of Boeing’s biggest customers for the MAX 737, with 210 on order, and the airline said last month it expected a further delay to deliveries that could leave it without the new jets next summer.

Bellew left his role as CEO of Malaysia Airlines two years ago to return to Ryanair where he was director of flight operations before leaving for Kuala Lumpur in 2014.

Tasked with tackling a pilot revolt that resulted in Ryanair’s first ever strikes, Bellew has helped patch up relations with staff and agree deals on pay and conditions with trade unions that have quelled the unrest.

An Irish national, Bellew described his return to Ryanair in 2017 as “a form of national service” to help what he described as Ireland’s greatest company. Some observers had seen Bellew as a possible future Ryanair chief executive.

(Reporting by Padraic Halpin; Editing by Mark Potter)

Fly Leasing Reprices and Extends 2012 Term Loan

November 25, 2019 / WIL BALDWIN

DUBLIN, Nov. 25, 2019 /PRNewswire/ — Fly Leasing Limited (FLY) (“FLY”), a global leader in aircraft leasing, today announced it has repriced its $385 million Term Loan. The interest rate on the amended loan is LIBOR plus 1.75%, a 0.25% margin reduction. Additionally, the maturity has been extended by more than two years from February 2023 to August 2025. In conjunction with the extension, FLY paid a one-time fee of 0.25% OID to the lenders.

FLY Leasing Limited logo. (PRNewsFoto/FLY Leasing Limited)

“FLY’s strong upward trajectory, combined with its significant deleveraging and recent Standard & Poor’s rating upgrade, created the momentum for the successful repricing of FLY’s largest debt facility. We anticipate annual cash interest savings of nearly $1 million,” said Colm Barrington, CEO of FLY. “We remain committed to reducing our borrowing costs while opportunistically extending debt maturities. FLY will continue to explore other opportunities to optimize its balance sheet and create value.”

European Pilot Group Demands Action over Ryanair Sick Leave Policy

November 14, 2019 / WIL BALDWIN

DUBLIN (Reuters) – The European Cockpit Association (ECA) pilot group has urged regulators to take action over what it described as a “safety hazard” caused by Ryanair’s <RYAAY> approach to flight crews’ sick leave, according to a letter seen by Reuters.

Europe’s largest budget carrier has spent the last two years negotiating improved pay and conditions with its pilots and cabin crew after a revolt by some staff forced it to recognize trade unions for the first time.

The ECA, which represents pilots’ associations in 33 European countries, said Ryanair adopts a practice of systematically questioning absences due to certified sickness, leading to investigative and disciplinary meetings where staff are threatened with potential dismissal.

Asked about the ECA’s concerns, a Ryanair spokeswoman said the airline operates “a standard sick pay scheme, and like all employers, manages absenteeisms”.

The airline, which has never had a fatal crash and has one of the youngest fleets in Europe, regularly cites safety as its top priority.

The ECA said it raised the issue with the European Union Aviation Safety Agency (EASA) a year ago but that Ryanair’s “problematic approach” to flight crew’s sickness has not substantially changed.

“In fact, we are concerned that the safety hazard created by this approach remains fully in place, must be considered endemic, and quite evidently is not adequately addressed by the competent national authority: the Irish Aviation Authority (IAA),” the letter dated Nov. 5 said.

A spokeswoman for the ECA confirmed it had sent such a letter to the regulator, the second in a year, and that it was concerned that the safety hazard related to Ryanair’s policy remains unaddressed.

In the letter, the ECA said it was aware that the EASA raised the matter with the IAA following the initial complaint but that the Irish regulator told one of the ECA’s member groups that it was satisfied there was not a systematic issue of crews flying while unfit due to fear of sanction at Ryanair.

The IAA did not immediately respond to a request for comment.

Citing letters sent to staff, the ECA said Ryanair or broker agencies overseeing agency workers used by the airline have gone as far as threatening to halt pilots’ career progression, due to their sickness rate.

The pilot group called on the European regulator to ensure the IAA adequately fulfils its safety oversight role by summoning Ryanair to stop the practice of intimidating letters and investigative proceedings and also carry out an independent confidential survey among Ryanair crew.

(Story by Conor Humphries and Padraic Halpin, editing by Giles Elgood)

FILE PHOTO: A Ryanair commercial passenger jet takes off in Blagnac near Toulouse

IAG Ups Bet on Latin America with Air Europa Takeover

November 4, 2019 / WIL BALDWIN

* Buys Air Europa for 1 bln euros

* To be funded by external debt

* Shares rise more than 2%

* To be run by Iberia CEO

* Regulators may set requirements -analysts

Nov 4 (Reuters) – IAG, the parent of British Airways and Spain’s Iberia, announced a 1 billion euro ($1.12 billion) takeover of Spain’s Air Europa to boost its presence on routes to Latin America and the Caribbean.

The deal follows a setback in Latin America for IAG after Chile’s Supreme Court ruled against a plan that would have allowed it to bolster cooperation with partners in the oneworld airlines alliance.

**BA parent IAG ups bet on Latin America with Air Europa takeover**
Ryanair Chief Executive Michael O’Leary attends a Reuters Newsmaker event in London

Chile’s LATAM Airlines in September then announced it planned to leave the alliance, opting instead for a tie-up with SkyTeam member Delta Air Lines.

IAG shares initially rose more than 2% following the Air Europa takeover announcement but some analysts said IAG may have to shed routes in order to win regulatory approval.

IAG shares were up 1.2% at 1315 GMT.

Ryanair CEO Michael O’Leary said his company will ask the UK’s market watchdog to force IAG to make divestments as part of its Air Europa takeover, a deal he said would be bad for competition.

“Potential remedies, perhaps in the form of slot release or behavioural restrictions, may be required and these could impact the potential synergies,” an analyst at Liberum wrote in a note.

IAG also owns carriers Iberia Express, Level, Ireland’s Aer Lingus and Vueling.

“We are not convinced that having just another brand platform is the optimal move, and could see it potentially combining with Level, Vueling or potentially Iberia Express after some time,” analysts at Bernstein said.

FILE PHOTO: An Air Europa-branded Boeing 737 MAX aircraft is seen grounded at a storage area in an aerial photo at Boeing Field in Seattle

Air Europa serves 69 destinations, including long-haul routes to the Americas and the Caribbean. It had a fleet of 66 aircraft at the end of 2018.

Air Europa’s Spanish parent company Globalia earlier this year received authorisation from the Brazilian government to explore the possibility of flying domestic routes within Latin America’s largest economy.

It is unclear if that authorisation will remain with Globalia or be transferred to IAG.

Air Europa will initially keep its brand and as it gets integrated into the existing hub at Madrid it will be a standalone operation run by Iberia boss Luis Gallego, IAG said.

It will also withdraw Air Europa from the SkyTeam alliance once the deal is completed. Air Europa has a joint venture with Air France-KLM.

“This is of strategic importance for the Madrid hub, which in recent years has lagged behind other European hubs,” said Gallego, adding that Madrid had the potential to serve as a gateway between Asia and Latin America.

IAG said it expected the Air Europa deal, which will be funded through external debt, to close in the second half of next year and for it to add to its earnings in the first full year after the closure.

($1 = 0.8951 euros) (Reporting by Yadarisa Shabong in Bengaluru; additional reporting by Andres Gonzalez in Madrid and Marcelo Rochabrun in Sao Paulo, editing by Patrick Graham and Jason Neely)

An Air Europa Boeing 737 airplane takes off at the airport in Palma de Mallorca

First Leonardo AW109 Trekker VIP for Europe Debuts at Monaco Yacht Show

September 28, 2019 / WIL BALDWIN

The first VIP AW109 Trekker for the European market is destined for the United Kingdom where Leonardo has a fleet of almost 100 VIP helicopters
Leonardo has a global fleet of over 830 VIP helicopters performing private, charter, scheduled, corporate transport, air-taxi, tourism and VVIP transport
With skids and high levels of customization, the AW109 Trekker is slated to increase Leonardo’s impressive VIP market share (44% in twin engines)

The first Leonardo AW109 VIP Trekker helicopter for a European customer debuts today at the Monaco Yacht Show – Leonardo stand QA13 / Quai Antoine 1er. The Monaco Yacht Show (25 to 28 September) is one of the most important international luxury yacht showcases. After the show, the VIP Trekker will fly to the United Kingdom for delivery thanks to Sloane Helicopters, Leonardo’s distributor for over twenty years in the United Kingdom and Ireland. The privately-owned aircraft will be operated by Apollo Air Services, available for VIP charter market.

The AW109 Trekker is the newest model within Leonardo’s light twin-engine helicopter range. The Trekker joins a fleet of Leonardo VIP helicopters that lead the UK and Irish market: almost 100 aircraft with nearly 90% represented by the AW109 series (Power, Grand and GrandNew). This market is second only to Brazil where about 130 Leonardo VIP helicopters fly amongst 400 San Paolo helipads.

The helicopter maker and the distinguished Italian Style of its VIP helicopter design are embraced around the world, boasting a 44% global share in the twin-engine VIP helicopter market. The Company’s fleet of 2,300 civil helicopters are used for law enforcement, offshore transport, utilities, search and rescue and VIP / corporate transport. More than 830 aircraft carry out a range pf passenger transport missions including private, charter, scheduled flights, corporate, air-taxi, tourism, VVIP.

Leonardo’s VIP helicopter models all share a strong commitment to high performance, versatility, safety, reliability, support and training services, design and a high level of customization. The Company features the largest range of executive, corporate and government transport helicopters including the AW119Kx single engine 1.8 tonne, the AW109 series, the AW169, AW139, AW189 and the three-engine 16 tonne.

With the AW109 Trekker Leonardo is destined to increase its notable market share, thanks to features that combine the qualities of the AW109 Grand—long recognized by operators—including its spacious cabin, state-of-the-art Genesys Aerosystems avionics and skids, particularly suitable for landing on yachts. The combination is unmatched in terms of cost/effectiveness, technology and performance.

Sloane Helicopters will be maintaining two AW109 Trekkers in UK. Building on the qualities that have made the AW109 series the benchmark helicopters in its category, Sloane will be performing demonstration flights with the new Leonardo light twin inviting operators to learn more about its unique characteristics.

NOTE TO EDITORS ON THE AW109 TREKKER VIP

The AW109 Trekker combines excellent performance, the latest technology and high safety standards to provide customers an ideal combination of comfort and capabilities. The finest materials and the highest levels of craftsmanship give the helicopter a unique style and ensure passengers a pleasant journey.

The AW109 Trekker is equipped with a latest generation Genesys Aerosystems glass cockpit that can be configured according to customer needs: one or two pilots, VFR or IFR.

The large and bright cabin can be configured in a variety of layouts and boasts an effective soundproofing system to offer passengers an extremely pleasant flight. Large sliding doors on both sides ensure easy entry and exit, while the luggage compartment offers high load capacity.

It can carry 6/7 passengers and has a maximum take-off weight of 3.175 kg. Over 60 AW109 Trekkers have already been sold to customers around the world to date for multiple missions such as VIP transport, offshore, utilities, EMS / SAR, law enforcement.

Italian Government Asks Delta To Do The Right Thing

September 28, 2019 / WIL BALDWIN

The Italian government is begging U.S. major Delta Air Lines, Inc. (NYSE: DAL) to up the proposed acquisition of a 10% stake in Alitalia for $100 million to at least 15%, according to a report in Italian media.

Loss-making Alitalia has been seeking new investors for more than two years after going into administration in May 2017 after workers rejected a plan to cut jobs and salaries. Successive Italian governments have had to balance the carrier’s massive losses with the need to placate a heavily unionized workforce.

Click the link for the full story! https://finance.yahoo.com/news/italian-government-asks-delta-thing-205301072.html

Ryanair Launches Irish Summer 2020 Schedule

September 25, 2019 / WIL BALDWIN

4 New Dublin Routes To Marseille, Palanga, Podgorica & Verona

Ryanair, Ireland’s No.1 airline, today (25 Sept) launched its Irish Summer 2020 schedule, with 160 routes in total, including 4 new Dublin routes Marseille, Palanga, Podgorica and Verona, and 3 new summer services from Cork to Katowice and from Dublin to Billund and Toulouse, which will deliver 17.2m customers p.a. and support 12,900* jobs at Dublin, Shannon, Cork, Knock and Kerry airports.

Ryanair’s Irish Summer 2020 schedule will deliver:

At Dublin:

4 new routes: Marseille (5 per week), Palanga (3), Podgorica (2) & Verona (3)
2 new summer services: Billund (2), Toulouse (daily)
More flights on 4 other routes: Bristol (3 daily), Bydgoszcz (3), Riga (daily) & Vilnius (4)
105 routes in total
14.3m customers p.a.
10,725* “on-site” jobs p.a.

Shannon:

15 routes in total
775,000 customers p.a.
580* “on-site” jobs p.a.

Cork:

1 new summer service to Katowice (2)
More flights on 2 other routes: Malaga (6) & Palma (4)
23 routes in total
1.2m customers p.a.
900* “on-site” jobs p.a.

Knock:

11 routes in total
600,000 customers p.a
450* “on-site” jobs p.a.

Kerry:

6 routes in total
310,000 customers p.a.
210* “on-site” jobs p.a.

Irish consumers and visitors can now book their holidays on 160 routes as far out as October 2020, flying on the lowest fares and with the greenest/cleanest major airline in Europe, with the lowest CO₂ emissions.

To celebrate, Ryanair has launched a seat sale with fares on its Irish routes available from just €14.99, for travel until the end of November 2019, which must be booked by midnight Friday (27 Sept), only on the Ryanair.com website.

In Dublin, Ryanair’s Kenny Jacobs said:

“Ryanair is delighted to bring the lowest emissions and fares to Ireland with our Summer schedule 2020, with 4 new Dublin routes to Marseille, Palanga, Podgorica and Verona, and 160 routes in total, which will deliver 17.2 million customers p.a. and support over 12,900* jobs at Dublin, Shannon, Cork, Knock and Kerry airports.

Irish customers and visitors can now book low fare seats on 160 routes as far out as October 2020. To celebrate, we are releasing seats for sale from just €14.99 for for travel until the end of November 2019, which are available for booking until midnight Friday (27 Sept). Since these amazing low prices will be snapped up quickly, customers should log onto www.ryanair.com and avoid missing out.”

Niall Gibbons, CEO of Tourism Ireland, said:

“Against the current economic backdrop, we welcome the fact that Ryanair capacity for 2020 will be up by +1%. Most of the routes which are important for Irish tourism will be retained and we look forward to co-operating with Ryanair to maximise the promotion of its new flights from Marseilles and Verona to Dublin Airport. As an island, the importance of convenient, direct, non-stop flights cannot be overstated – they are absolutely critical to achieving growth in inbound tourism.”

Air Lease Announces First of Eight New Airbus A321-200neo LR to Aer Lingus

July 29, 2019 / WIL BALDWIN

LOS ANGELES, July 26, 2019 – Today Air Lease Corporation (NYSE: AL) announced the delivery of one new Airbus A321-200neo LR aircraft on long-term lease to Aer Lingus (Dublin, Ireland). This Airbus aircraft, featuring CFM International LEAP-1A33 engines, is the first of eight A321-200neo LRs scheduled to deliver to the airline through 2020 from ALC’s order book with Airbus.

“ALC is pleased to announce this first of eight A321-200neo LR aircraft delivery today to our long-time customer, Aer Lingus, and introduce the A321neo to the airline,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation. “The new ALC A321neo LR will enable Aer Lingus to substantially increase the number of flights, frequencies and new destinations between Ireland and the USA and Canada. We are honored to be a part of Aer Lingus’ ongoing fleet transition to the A321neo LR to enhance the airline’s expanding route network with the most modern, fuel-efficient aircraft.”

“This significant delivery to our good friends at Aer Lingus strengthens our close relationship and we are confident that the A321-200neo LR will advance the airline’s fleet operations and overall growth goals,” added Grant Levy, Executive Vice President of Air Lease Corporation.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including expected delivery dates. Such statements are based on current expectations and projections about our future results, prospects and opportunities and are not guarantees of future performance. Such statements will not be updated unless required by law. Actual results and performance may differ materially from those expressed or forecasted in forward-looking statements due to a number of factors, including those discussed in our filings with the Securities and Exchange Commission.

About Air Lease Corporation

ALC is a leading aircraft leasing company based in Los Angeles, California that has airline customers throughout the world. ALC and its team of dedicated and experienced professionals are principally engaged in purchasing commercial aircraft and leasing them to its airline customers worldwide through customized aircraft leasing and financing solutions. For more information, visit ALC’s website at www.airleasecorp.com.

About Aer Lingus

Aer Lingus, part of International Airlines Group, operates as a leading Irish airline primarily providing passenger and cargo transportation services from Ireland to the United Kingdom and Europe and also to the United States and Canada.

Ryanair Posts Weakest Annual Profit in 4 Years

May 20, 2019 / WIL BALDWIN

Reuters • May 19, 2019

Profit could fall further in coming year
Fares likely to fall further this summer
Says 737 Max delay a factor
Sees first Max deliveries in October (Adds quotes; details on Max 737 delays)

DUBLIN, May 20 (Reuters) – Ryanair reported its weakest annual profit in four years on Monday and said earnings could fall further as European airlines wage what Chief Executive Michael O’Leary described as “attritional fare wars.”

After initially falling 6%, the shares made up some ground after O’Leary, who helped to develop the no-frills airline model in Europe, argued that lower fares and profitability for a couple of years were a price worth paying to boost market share and hasten consolidation.

O’Leary said the lower fares and profit were cyclical and that four or five European airlines were likely to emerge as the winners in the sector.

“Our strategy would be to keep adding capacity as quickly as we can in all the markets where we can,” said O’Leary, who has been in charge of Ryanair since 1994.

“Will it be painful for a year or two, yes it will. But will it shake out more of the competition, yes it will.”

Ryanair, Europe’s largest low-cost operator, had already signalled a sharp fall in profitability due largely to overcapacity in two warnings last year.

Its 29% fall in after-tax profits to 1.02 billion euros ($1.14 billion) for its financial year to March 31 was in line with investor forecasts.

But its profit forecast for the current financial year to end-March 2020 of between 750 million and 950 million euros, was “considerably worse than expected,” Goodbody analyst Mark Simpson said in a note.

A company poll of analysts published ahead of the release had forecast a figure of 977 million euros.

O’Leary said the forecast was effectively for profits to remain flat as the 2020 figure includes recently acquired and loss-making Laudamotion unit for the first time and would be a “very good outcome.” The equivalent figure in 2019 would have been 880 million.

737 MAX GROUNDING

Several rival airlines have warned of a worse trading environment – partly due to overcapacity and partly because European travellers are holding off booking their summer holidays for fear of how the Brexit process will pan out.

Alistair Wittet, portfolio manager at Comgest, which has a 0.74% stake in Ryanair according to Refinitiv Eikon, said some investors appeared to have been convinced by O’Leary’s line of argument.

“The long-term opportunity is fantastic for a company like Ryanair because that capacity will come out” even if Ryanair has to go through a lot more pain than expected in the meantime, Wittet said.

Ryanair has also been affected by delays in the delivery of the Boeing 737 MAX after its worldwide grounding in March following a fatal Ethiopian Airlines crash.

The airline, which has ordered 135 737 MAX 200s and has options on 75 more, was expecting to receive its first five planes between April and June but said it now expects them to be flying by November. O’Leary said he was “reasonably confident” it would have around 50 MAX aircraft flying next summer.

The grounding has forced Ryanair to cut around 1 million seats in the year to March 2020. But it still expects to fly 153 million passengers in the period, up from 139 million last year.

The airline plans to have a conversation with Boeing about “modest compensation”, Chief Financial Officer Neil Sorohan said.

Ryanair’s shares were trading down 3 percent at 10.46 euros at 1250 GMT, down over 40% from a peak of 19.39 euros in August 2017, before the airline was hit by a wave of industrial unrest, fare weakness and the grounding of the MAX.

In what O’Leary described as a vote of confidence from the board, Ryanair will begin a 700 million euro share buyback in the coming days. ($1 = 0.8966 euros)

(Additional reporting by Helen Reid; Editing by Subhranshu Sahu and Louise Heavens)

Ryanair Co-Founder Plans Third Latin Airline

May 10, 2019 / WIL BALDWIN

Low-cost Viva Air plans NYSE listing within two years
Budget carriers are disrupting transport across Latin America

Rendering of an Airbus A320neo Viva Air aircraft Source: Airbus SE

Viva Air, the Latin American group of carriers owned by a founder of Ireland’s Ryanair Holdings Plc, has plans for a third airline in the region plus an initial public offering, to cash in on strong demand for discount air travel.

The company aims to sell shares in New York within two years, Viva’s biggest shareholder, Declan Ryan, said in an interview in Lima. The shares could also be listed on another exchange, such as Colombia’s, he said.

Click the link for the full story from Bloomberg!

https://www.bloomberg.com/news/articles/2019-05-10/ryanair-co-founder-plans-third-latin-airline-followed-by-an-ipo

4 New Dublin Routes To Marseille, Palanga, Podgorica & Verona

In Dublin, Ryanair’s Kenny Jacobs said:

Niall Gibbons, CEO of Tourism Ireland, said:

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