Continued from page 96
reduction – although the loss of the remaining 40% Covid- era relief on rates means most businesses will see a hefty increase from April anyway. However, business newspaper
the Financial Times reported: “Supermarkets mounted a ferocious campaign against business rates changes – [these] have stayed broadly the same while rates for smaller high street shops will rise substantially.” UKHospitality reports
pubs face an average 76% rise in rates bills and hotels a 115% rise, pointing out high street businesses face much higher bills proportionally than supermarket chains or online retailers such as Amazon. The British Retail Consortium notes retail makes up 5% of the UK economy but pays more than 20% of business rates. The government has also
delivered a blow to the inbound tourism sector, with the Home Office signalling it plans to raise the cost of an Electronic Travel Authorisation (ETA) for international visitors from £16 to £20 and the fee for a two-year visitor’s visa by £35 to £506. UKinbound chief executive
Joss Croft described the increases as “staggering”, noting: “The ETA has risen by 50% since its roll-out in November 2023.” Separately, the Scottish
government plans to consult from the end of this month on a new Air Departure Tax to replace Air Passenger Duty on flights from Scotland – announced in its Budget on January 13. The tax is due to replace APD from April 2027, with rates and bands the same as APD in 2027-28. Any changes from April 2028 will be set out in the next Budget.
Ryanair blames quarterly profit dip on Italian fine
Ian Taylor
Ryanair reported a fall in profit year on year for the three months to December on Monday while forecasting an increase for the 12 months to March. Group chief executive Michael
O’Leary blamed the quarterly profit fall on €85 million in funds set aside to cover a €256 million fine imposed by the Italian competition authority, which he described as “baseless” and against which Ryanair is appealing. The fine was imposed following
complaints the carrier penalised intermediaries for selling its flights without distribution agreements – part of the long-running legal battle across Europe which has largely been resolved in the UK since Ryanair began negotiating such agreements. The airline recorded a headline
profit of just €30 million, down from €149 million due to the fine provision. However, passenger numbers were up 6% in the quarter
O’Leary and Musk in online spat over Starlink comments
Michael O’Leary was involved in a bitter row with multibillionaire Elon Musk last week, with Musk suggesting that he would buy Ryanair to replace O’Leary. The dispute was triggered
after Musk responded to a radio interview in Ireland in which O’Leary ruled out adding Starlink internet to the carrier’s aircraft.
94 29 JANUARY 2026
external developments including conflict escalation in Ukraine and the Middle East, macroeconomic shocks and any impact of European air traffic control strikes.” O’Leary noted Airbus and Boeing
Ryanair reports a 7%-8% rise in average fares
on the previous year and the average fare up 4%, while costs per passenger were flat. The carrier raised its forecasts
for passenger numbers, profit growth and fares for the full year as it reported “seeing huge demand” for flights, predicting fares to the end of March – when its financial year ends – would be up 7%-8% on last year, leading to a rise in its full-year pre-tax profit from €2.13 billion to €2.23 billion. However, the airline added a
cautionary note, warning: “The final outcome remains exposed to adverse
Several major network carriers
have installed Musk-owned Starlink technology to provide internet access on flights via satellite. O’Leary said Starlink would add
$250 million a year to Ryanair’s fuel bill, suggesting “what Elon Musk knows about flights and drag would be zero” and adding: “I wouldn’t pay any attention to anything Musk puts on that cesspit of his X.” Musk responded with a series of
posts on X suggesting he could buy Ryanair and fire O’Leary, one of which was viewed 30 million times. O’Leary hit back, saying Musk should “spend less time undressing
“remain well behind” on aircraft deliveries, while delays in engine repairs continue to ground high numbers of aircraft, but said Ryanair had now received all but four of its 210 Boeing 737 Max-8 aircraft on order – with the remaining four due for delivery by the end of February. O’Leary said he expects deliveries
of the larger but yet-to-be-certified Boeing 737 Max-10 to begin next year. The carrier’s network would
continue to favour airports, governments and regions which “cut aviation taxes and incentivise traffic growth”, he said, switching routes “away from high-cost, uncompetitive markets like Austria, Belgium, Germany and regional Spain”. Ryanair had a fleet of 643 aircraft
at the start of this year.
Elon Musk
women and children on X”, referring to the site’s Grok AI tool, and suggested he would brand Ryanair’s next discount offer the “Big Idiot seat sale”. The Ryanair chief has said he plans to stand down by 2035.
travelweekly.co.uk
PICTURES: Shutterstock/FotoField, vivooo, Unai Huizi Photography
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100
