Ryanair has seen its earnings hit by a wave of walk-outs with more planned. Reuters
Ryanair has seen its earnings hit by a wave of walk-outs with more planned. Reuters

Ryanair profits plummet as industrial action bites



Labour strife is starting to weigh on Ryanair.

The discount airline posted a 20 per cent drop in first-quarter profit, and warned that sporadic walkouts by trade unions, along with regional traffic-control strikes, are starting to make customers hesitant to book flights.

That’s fed into a drop in prices, just as fuel costs rise and the Irish carrier shells out for 20 per cent pay increases already granted to some of its pilots. Fares fell 4 per cent during the period ended June 30, and the pricing environment remains weak, Ryanair said. The company kept its profit full-year outlook, but said it was “heavily dependent” on fares this quarter, crew strikes, traffic-controller strikes and other wild cards such as Brexit.

While the airline had been able to re-accommodate passengers whose flights were cancelled during recent strikes by Irish pilots, “the real impact is going to be on uncertainty in relation to the forward booking curve,” chief financial officer Neil Sorahan said on Monday.

Profit after taxes fell to €319 million (Dh1.37bn) in the three months ended June 30, the company said.

The drop was due to “lower fares, the absence of half of Easter in the quarter, higher oil prices and pilot costs,” chief executive Michael O’Leary said. Traffic grew despite over 2,500 flight cancellations caused by air traffic control staff shortages and strikes, he said.

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Read more:

Up to 5,000 Ryanair cabin crew set to join pilot strikes

UK's easyJet forecasts up to 45 per cent surge in profits

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Ryanair left unchanged guidance set out in May that net income for the year ending March 2019 will decline for the first time since 2014, to a range of €1.25bn to €1.35bn.

The airline is facing strikes by its Irish pilots and by Spanish, Portuguese, Belgian and Italian flight attendants, who plan walkouts this week. Germany’s Vereinigung Cockpit pilot union is also balloting members who fly with Ryanair, with the outcome due later this month.

This summer’s disruptions mark the first major industrial action the budget carrier has seen, after it agreed to accept unionisation in the face of a staffing crunch last year. A four-hour German pilot strike in December - Ryanair’s first-ever strike - led to delays but no cancellations. The airline said in May, before the latest round of labour opposition, that costs associated with recognising labor groups would reach €100m this fiscal year.

First-quarter revenue rose 9 per cent to €2.08bn. Analysts had expected revenue of €2.04bn, according to eight estimates compiled by Bloomberg. Ancillary revenue, including from passengers paying extra for priority boarding, rose 25 per cent.

Ryanair this month won EU approval to take a majority stake in the Austrian airline LaudaMotion. The Irish carrier said Monday that LaudaMotion would lose about €150m in its first year but “these results will improve substantially to break even by year 3 of operations.” Ryanair said in May that LaudaMotion will need almost €100m in start-up costs and operating losses over the next two years.

COMPANY%20PROFILE
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COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Tree of Hell

Starring: Raed Zeno, Hadi Awada, Dr Mohammad Abdalla

Director: Raed Zeno

Rating: 4/5

Family reunited

Nazanin Zaghari-Ratcliffe was born and raised in Tehran and studied English literature before working as a translator in the relief effort for the Japanese International Co-operation Agency in 2003.

She moved to the International Federation of Red Cross and Red Crescent Societies before moving to the World Health Organisation as a communications officer.

She came to the UK in 2007 after securing a scholarship at London Metropolitan University to study a master's in communication management and met her future husband through mutual friends a month later.

The couple were married in August 2009 in Winchester and their daughter was born in June 2014.

She was held in her native country a year later.

UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

Moon Music

Artist: Coldplay

Label: Parlophone/Atlantic

Number of tracks: 10

Rating: 3/5

How tumultuous protests grew
  • A fuel tax protest by French drivers appealed to wider anti-government sentiment
  • Unlike previous French demonstrations there was no trade union or organised movement involved 
  • Demonstrators responded to online petitions and flooded squares to block traffic
  • At its height there were almost 300,000 on the streets in support
  • Named after the high visibility jackets that drivers must keep in cars 
  • Clashes soon turned violent as thousands fought with police at cordons
  • An estimated two dozen people lost eyes and many others were admitted to hospital 
The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Power: 268bhp / 536bhp
Torque: 343Nm / 686Nm
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)
On sale: Later this year
MATCH INFO

Manchester United 1 (Rashford 36')

Liverpool 1 (Lallana 84')

Man of the match: Marcus Rashford (Manchester United)

The biog

Favourite food: Tabbouleh, greek salad and sushi

Favourite TV show: That 70s Show

Favourite animal: Ferrets, they are smart, sensitive, playful and loving

Favourite holiday destination: Seychelles, my resolution for 2020 is to visit as many spiritual retreats and animal shelters across the world as I can

Name of first pet: Eddy, a Persian cat that showed up at our home

Favourite dog breed: I love them all - if I had to pick Yorkshire terrier for small dogs and St Bernard's for big

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COMPANY PROFILE

Company: Bidzi

● Started: 2024

● Founders: Akshay Dosaj and Asif Rashid

● Based: Dubai, UAE

● Industry: M&A

● Funding size: Bootstrapped

● No of employees: Nine

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The%20Roundup%20%3A%20No%20Way%20Out
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Company%20Profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Hoopla%3Cbr%3E%3Cstrong%3EDate%20started%3A%20%3C%2Fstrong%3EMarch%202023%3Cbr%3E%3Cstrong%3EFounder%3A%3C%2Fstrong%3E%20Jacqueline%20Perrottet%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%3C%2Fstrong%3E%2010%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3EPre-seed%3Cbr%3E%3Cstrong%3EInvestment%20required%3A%3C%2Fstrong%3E%20%24500%2C000%3C%2Fp%3E%0A
TRAP

Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue

Director: M Night Shyamalan

Rating: 3/5

How the bonus system works

The two riders are among several riders in the UAE to receive the top payment of £10,000 under the Thank You Fund of £16 million (Dh80m), which was announced in conjunction with Deliveroo's £8 billion (Dh40bn) stock market listing earlier this year.

The £10,000 (Dh50,000) payment is made to those riders who have completed the highest number of orders in each market.

There are also riders who will receive payments of £1,000 (Dh5,000) and £500 (Dh2,500).

All riders who have worked with Deliveroo for at least one year and completed 2,000 orders will receive £200 (Dh1,000), the company said when it announced the scheme.

The Florida Project

Director: Sean Baker

Starring: Bria Vinaite, Brooklynn Prince, Willem Dafoe

Four stars

The specs

  Engine: 2-litre or 3-litre 4Motion all-wheel-drive Power: 250Nm (2-litre); 340 (3-litre) Torque: 450Nm Transmission: 8-speed automatic Starting price: From Dh212,000 On sale: Now

The specs

Engine: 1.5-litre turbo

Power: 181hp

Torque: 230Nm

Transmission: 6-speed automatic

Starting price: Dh79,000

On sale: Now

The specs

Engine: 3.9-litre twin-turbo V8
Power: 620hp from 5,750-7,500rpm
Torque: 760Nm from 3,000-5,750rpm
Transmission: Eight-speed dual-clutch auto
On sale: Now
Price: From Dh1.05 million ($286,000)

Company%20Profile
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COMPANY%20PROFILE
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BIOSAFETY LABS SECURITY LEVELS

Biosafety Level 1

The lowest safety level. These labs work with viruses that are minimal risk to humans.

Hand washing is required on entry and exit and potentially infectious material decontaminated with bleach before thrown away.

Must have a lock. Access limited. Lab does not need to be isolated from other buildings.

Used as teaching spaces.

Study microorganisms such as Staphylococcus which causes food poisoning.

Biosafety Level 2

These labs deal with pathogens that can be harmful to people and the environment such as Hepatitis, HIV and salmonella.

Working in Level 2 requires special training in handling pathogenic agents.

Extra safety and security precautions are taken in addition to those at Level 1

Biosafety Level 3

These labs contain material that can be lethal if inhaled. This includes SARS coronavirus, MERS, and yellow fever.

Significant extra precautions are taken with staff given specific immunisations when dealing with certain diseases.

Infectious material is examined in a biological safety cabinet.

Personnel must wear protective gowns that must be discarded or decontaminated after use.

Strict safety and handling procedures are in place. There must be double entrances to the building and they must contain self-closing doors to reduce risk of pathogen aerosols escaping.

Windows must be sealed. Air from must be filtered before it can be recirculated.

Biosafety Level 4

The highest level for biosafety precautions. Scientist work with highly dangerous diseases that have no vaccine or cure.

All material must be decontaminated.

Personnel must wear a positive pressure suit for protection. On leaving the lab this must pass through decontamination shower before they have a personal shower.

Entry is severely restricted to trained and authorised personnel. All entries are recorded.

Entrance must be via airlocks.

COMPANY%20PROFILE
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