Ryanair steps up growth target to 110 million passengers
Ryanair plans to accelerate its growth to reach 110 million passengers by March 2019, instead of the 100 million previously targeted.
The airline will tell London investors later today that it is stepping up its growth rate from 5% a year to 7% a year.
It says the growth is in response to "increased demand and lower costs from both existing and new airport partners across Europe".
Ryanair will also outline detailed plans to return up to €1bn to shareholders over the next two years with at least €400m in share buybacks to be completed during the current year to March 2014.
It also plans to return up to a further €600m in either special dividends or share buybacks targeted in March 2015, "subject to current fuel, yields and profitability trends continuing".’¨
Another investor day is scheduled for New York next Tuesday, where North American analysts and investors will be briefed on the plans.
Meanwhile, Ryanair has begun a crack-down on publications, including TravelMole and the Telegraph, which still refer to it as a "no-frills" airline.
The airline claims that because it now offers services like "reserved seating, priority boarding, leather seats and on-board catering", it no longer falls under the category of "no-frills".
Instead, it claims it should be referred to as a "low-cost" airline.
TravelMole would like to know your views on the issue. Do you think Ryanair is no longer a "no-frills" airline, or do you think that because it charges for many of the "frills" it is still essentially a "no-frills" airline? Do you think Ryanair can justify calling itself a low-cost airline?
Please share your views by clicking on POST YOUR COMMENT below, and by taking part in our Mole Poll tomorrow.
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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