Latest news with #NeilSorahan
Gulf Today
21-07-2025
- Business
- Gulf Today
Ryanair's profit more than doubled in April
Ryanair's net profit more than doubled in its April-June quarter on higher-than-expected last-minute fares and the timing of the Easter holidays, while bookings for rest of the summer are 'robust', Europe's largest low-cost carrier said on Monday. The Irish airline, Europe's largest by passenger numbers, said it was not seeing a negative trend of later-than-normal bookings reported by some rivals. 'Across the piece, bookings are good,' Chief Financial Officer Neil Sorahan said, describing consumer confidence as 'very strong.' Shares in the airline were up 6.5 per cent at 24.58 euros at 0725 GMT, just below the all-time high of 24.98 recorded on July 8. Ryanair reported a net profit of 820 million euros ($953 million) for its first quarter, which ended on June 30, up from 360 million euros in the same period last year when Easter was in March - and up from 663 million in the same period of 2023, the last time Easter was in April. A Ryanair poll of analysts had expected 716 million euros. Average fares rose 21% in the quarter, more than recovering the 15% fall recorded in the period last year. In the July-September quarter, when European airlines make most of their profit, Ryanair expects to recover 'almost all' of the 7 per cent fare decline seen last year, when it was hit by weak consumer sentiment and a dispute with some online travel agents. In June, Ryanair forecast that 'some of' the 7 per cent would be recovered. Asked about recent commentary from British low-cost rivals EasyJet and Jet2 that customers were booking later, Sorahan said: 'We're not seeing those kind of trends at all.' Rivals are likely seeing a negative impact from the resolution of Ryanair's dispute with online travel agents, he said. Reuters
Yahoo
21-07-2025
- Business
- Yahoo
Ryanair Stock Nears All-Time High on Strong Earnings
Key Takeaways Higher fares and a strong Easter season helped boost quarterly results for Ryanair. The Ireland-based discount airline posted first-quarter profit and revenue that topped analysts' estimates. The news lifted U.S.-traded shares of Ryanair near their all-time high.U.S.-listed shares of Ryanair (RYAAY) traded near their all-time high after the discount European airline posted better-than-expected results as it benefited from higher fares and strong Easter travel demand. Shares were up about 4% at $58.41 in recent trading, just short of intraday and closing records after climbing as high as $59.10 earlier in the session. They've added about a third of their value since the start of the year. The Ireland-based carrier reported first-quarter earnings per share of 0.77 euro ($0.90), with revenue jumping 20% year-over-year to 4.34 billion euros ($5.06 billion). Both figures exceeded analysts' forecasts compiled by Visible Alpha. Revenue per passenger rose 15%, lifted by a 21% rise in fares to 51 euros ($59). The company noted fares 'substantially benefitted from having a full Easter holiday in April, weak prior-year comps and marginally stronger than expected close-in pricing.' Traffic was up 4% to 57.9 million passengers. The company was cautious in its outlook, noting 'traffic remains on track to grow just 3% to 206m passengers, due to heavily delayed Boeing deliveries.' In an interview with Bloomberg, CFO Neil Sorahan also said the U.S. plane maker could have to bear the costs of Trump administration tariffs. He added the airline might not take its remaining jets on order until the tariff situation becomes more clear. Read the original article on Investopedia Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Khaleej Times
21-07-2025
- Business
- Khaleej Times
Ryanair's profit rebounds as robust bookings point to strong summer
The Irish airline, Europe's largest by passenger numbers, said it was not seeing a negative trend of later-than-normal bookings reported by some rivals. "Across the piece, bookings are good," Chief Financial Officer Neil Sorahan said, describing consumer confidence as "very strong." Shares in the airline were up 6.5% at 24.58 euros at 0725 GMT, just below the all-time high of 24.98 recorded on July 8. Ryanair reported a net profit of 820 million euros ($953 million) for its first quarter, which ended on June 30, up from 360 million euros in the same period last year when Easter was in March - and up from 663 million in the same period of 2023, the last time Easter was in April. A Ryanair poll of analysts had expected 716 million euros. Average fares rose 21% in the quarter, more than recovering the 15% fall recorded in the period last year. In the July-September quarter, when European airlines make most of their profit, Ryanair expects to recover "almost all" of the 7% fare decline seen last year, when it was hit by weak consumer sentiment and a dispute with some online travel agents. In June, Ryanair forecast that "some of" the 7% would be recovered. Asked about recent commentary from British low-cost rivals EasyJet and Jet2 that customers were booking later, Sorahan said: "We're not seeing those kind of trends at all." Rivals are likely seeing a negative impact from the resolution of Ryanair's dispute with online travel agents, he said. Ryanair's profit for the year depends heavily on the strength of close-in bookings in August and September, but O'Leary said the rebound in fares should lead to "reasonable net profit growth" for the year to March 31. As Boeing's largest customer in Europe, Ryanair is particularly exposed to the possible imposition of tariffs on commercial aircraft, but said it was hopeful that an exemption for commercial aircraft could be agreed by the United States and European Union. "We're all hopeful and maybe a little confident that something might get done," CFO Sorahan said.
Yahoo
21-07-2025
- Business
- Yahoo
Ryanair plotting to use UK-US trade deal to escape Brussels tariffs
Ryanair is plotting to bypass tit-for-tat tariffs between Donald Trump and Brussels by diverting an order of Boeing jets to Britain. Neil Sorahan, Ryanair's chief financial officer, said the airline was exploring 'plans A, B and C' for the delivery of the US-made planes as Mr Trump threatens to trigger a trade war with the EU within weeks. The US president has set an Aug 1 deadline to conclude a trade deal with Brussels, promising tariffs as high as 30pc if no agreement can be reached. The EU has drawn up its own range of possible retaliation measures in response, including tariffs on US goods. Tariffs threaten to adds millions of euros to the cost 737 Max jets ordered by Dublin-based Ryanair if Brussels decides to target aerospace. The airline is currently expecting the delivery of 29 planes by next summer. However, the carrier has a separate British division, which runs its own fleet, and Mr Sorahan suggested Ryanair could sidestep the impact by diverting orders to the UK. The UK-US trade agreement announced by Mr Trump and Sir Keir Starmer in May included a carve-out for aviation and aerospace that made aircraft and parts exempt from reciprocal tariffs. Mr Sorahan said: 'We have five airlines, including one in the UK. Under the UK-US agreement that was signed recently aircraft are exempt, and we've seen that BA are taking Boeings into the UK that are exempt. So I wouldn't rule it out.' British Airways announced a deal for 32 Boeing 787s worth £13bn in the immediate wake of the UK-US agreement. Mr Sorahan said: 'We will look and see if there are other ways of taking the aircraft. We may have to say we are not taking the aircraft in the short term, or we may look at other jurisdictions.' The UK-US trade deal was made possible by Brexit. Ryanair may benefit despite the fact that Michael O'Leary, the airline's chief executive, was one of the most vocal overseas critics of Britain's decision to break from Brussels, which he has labelled a 'car crash' and an 'abject failure.' Just 15 or Ryanair's 618 aircraft are currently registered in the UK, even though Britain is one of its biggest markets. Mr Sorahan said that if there is no US-EU deal within 10 days 'hard conversations will start,' which may include telling Boeing to keep the aircraft. Six of the planes are due for delivery next month. He said: 'We have a fixed price agreed with Boeing and if the tariffs come to pass, it's a Boeing issue. We will work with them to help them mitigate the impact of those tariffs, but we've been very clear that it's not on us. 'We don't need those aircraft until next summer. The extra aircraft coming in are to deliver growth in the summer of 2026. 'We are just accommodating Boeing by taking those aircraft early. If we did not get them until January, February, March of next year I wouldn't lose a wink of sleep.' Ryanair is especially aggrieved at the situation because the 29 planes should already have been delivered. The order has been delayed by a production slowdown at Boeing, triggered by the mid-air blowout of a door panel from a 737 Max in January last year. Mr Sorahan said that while the outcome of trade talks was 'still hugely uncertain,' he was hopeful that aircraft would be exempted from any tariffs on safety grounds. This has been the case since an international agreement in 1979. Ryanair's profit for the three months through June more than doubled to €820m (£710m), spurred by a 21pc jump in ticket prices after a slump last year. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Telegraph
21-07-2025
- Business
- Telegraph
Ryanair plotting to use UK-US trade deal to escape Brussels tariffs
Ryanair is plotting to bypass tit-for-tat tariffs between Donald Trump and Brussels by diverting an order of Boeing jets to Britain. Neil Sorahan, Ryanair's chief financial officer, said the airline was exploring 'plans A, B and C' for the delivery of the US-made planes as Mr Trump threatens to trigger a trade war with the EU within weeks. The US president has set an Aug 1 deadline to conclude a trade deal with Brussels, promising tariffs as high as 30pc if no agreement can be reached. The EU has drawn up its own range of possible retaliation measures in response, including tariffs on US goods. Tariffs threaten to adds millions of euros to the cost 737 Max jets ordered by Dublin-based Ryanair if Brussels decides to target aerospace. The airline is currently expecting the delivery of 29 planes by next summer. However, the carrier has a separate British division, which runs its own fleet, and Mr Sorahan suggested Ryanair could sidestep the impact by diverting orders to the UK. The UK-US trade agreement announced by Mr Trump and Sir Keir Starmer in May included a carve-out for aviation and aerospace that made aircraft and parts exempt from reciprocal tariffs. Mr Sorahan said: 'We have five airlines, including one in the UK. Under the UK-US agreement that was signed recently aircraft are exempt, and we've seen that BA are taking Boeings into the UK that are exempt. So I wouldn't rule it out.' British Airways announced a deal for 32 Boeing 787s worth £13bn in the immediate wake of the UK-US agreement. Mr Sorahan said: 'We will look and see if there are other ways of taking the aircraft. We may have to say we are not taking the aircraft in the short term, or we may look at other jurisdictions.' The UK-US trade deal was made possible by Brexit. Ryanair may benefit despite the fact that Michael O'Leary, the airline's chief executive, was one of the most vocal overseas critics of Britain's decision to break from Brussels, which he has labelled a 'car crash' and an 'abject failure.' Just 15 or Ryanair's 618 aircraft are currently registered in the UK, even though Britain is one of its biggest markets. Mr Sorahan said that if there is no US-EU deal within 10 days 'hard conversations will start,' which may include telling Boeing to keep the aircraft. Six of the planes are due for delivery next month. He said: 'We have a fixed price agreed with Boeing and if the tariffs come to pass, it's a Boeing issue. We will work with them to help them mitigate the impact of those tariffs, but we've been very clear that it's not on us. 'We don't need those aircraft until next summer. The extra aircraft coming in are to deliver growth in the summer of 2026. 'We are just accommodating Boeing by taking those aircraft early. If we did not get them until January, February, March of next year I wouldn't lose a wink of sleep.' Ryanair is especially aggrieved at the situation because the 29 planes should already have been delivered. The order has been delayed by a production slowdown at Boeing, triggered by the mid-air blowout of a door panel from a 737 Max in January last year. Mr Sorahan said that while the outcome of trade talks was 'still hugely uncertain,' he was hopeful that aircraft would be exempted from any tariffs on safety grounds. This has been the case since an international agreement in 1979. Ryanair's profit for the three months through June more than doubled to €820m (£710m), spurred by a 21pc jump in ticket prices after a slump last year.
