It’s earnings reporting seasons, with Ryanair annoucing it’s numbers today, with a 17 percent increase in first half net profit with 450millon euros in the bank. However, the Odious Little Man has been on BBC Breakfast today moaning about a subject that I’m covering in detail today – Air Passenger Duty, and how Ryanair will shift routes away from the UK because of the rise (as well as how they’ve reduced routes out of Germany too) To start with, he’s on a Security rant about how much overdoing of cargo security and how much agencies are over reacting (as well as the media). He’s then onto the “joy” of APD. And surprisingly, he’s not impressed. With the effect being tourisim dropping hard, and growth in the UK – as visitors are heading elsewhere. Of course, there is the argument of unbundling, and to those who don’t want to pay OLCI fees – shift to a date when you can find a cheap fare that offers free OLCI.
Guidance has been issued that full year profits are yield from 380 million to 400 million euros. Which not a bad number.
