Ryanair: oil price hikes are fine by us
Ryanair’s ebullient boss Michael O’Leary has reportedly stated that a rise in oil prices will be good for the carrier’s business, because it will “take out” its competitors.
The carrier, which recently proudly announced that it would not be imposing any fuel surcharges, was yesterday forced to defend that decision as it announced first-quarter results.
According to The Independent newspaper, O’Leary said: “It is in our interests for oil prices to go higher. It will take out our competitors. Prices could double to USD80 a barrel (the price was USD44 yesterday) and we would still be profitable.”
Ryanair fleshed out that claim by predicting that yields could fall by as much as 20 per cent this winter, adding that such a move could cause a number of its rivals to collapse.
Finance director Howard Miller reportedly said: “We will put a high amount of pressure on them as we move through the winter.”
The carrier announced that its pre-tax profits rose 28 per cent to 57.8 million euros on sales of 303 million euros, up 23 per cent. Passenger numbers grew 28 per cent to 6.6 million in the first quarter.
Report by Tim Gillett, News From Abroad
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Qatar Airways offers flexible payment options for European travellers
Phocuswright reveals the world's largest travel markets in volume in 2025
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Skyscanner reveals major travel trends 2026 at ITB Asia
In Italy, the Meloni government congratulates itself for its tourism achievements