BUSINESS NEWS
Ryanair posts Q3 uplift but Boeing delays hit outlook
Ryanair recorded a post-tax profit of €149 million for the three months to December, the third quarter of its financial year, but reported a 12% fall in profits year on year for the nine months. The carrier’s revenue for the
October to December quarter was up 10% year on year to €2.96 billion as passenger numbers increased
Ryanair’s Q3 revenue was up 10% to €2.96bn
the first quarter of 2026 owing to continued delays in the delivery of Boeing aircraft. O’Leary expects Ryanair to
carry almost 200 million passengers in the 12 months to this March, up 9% year on year, and to carry 206 million in 2025-26, down from a previous forecast of 210 million. He said: “We no longer expect
by 9% to almost 45 million. But group chief executive
Michael O’Leary said Ryanair has been forced to revise down its growth forecast for this year and
Boeing to deliver sufficient aircraft ahead of summer ’25 to facilitate full-year 2026 growth to 210 million passengers.” Ryanair forecast a post-tax profit
of at least €1.55 billion for the 12 months to March this year.
Deadline looms to join class action on card fees
Ian Taylor
Major travel and hospitality businesses have less than two weeks to join the multibillion-pound class action lawsuits against Mastercard and Visa for the repayment of fees on commercial card payments. The UK Competition Appeal
Tribunal gave a go-ahead last August to collective proceedings over the multilateral interchange fees (MIFs) set by Mastercard and Visa on commercial card transactions from June 2016 to the present day. Large businesses – those with
an average annual turnover of £100 million-plus – must register to join the proceedings by February 10. Lawyers acting on behalf of
businesses in the proceedings estimate the amount owed by Mastercard and Visa to hospitality, travel and retail companies in the UK at more than £4 billion. They report travel and hospitality firms,
travelweekly.co.uk
retailers, charities, universities and football clubs have already joined the proceedings. Any business which received
payment by commercial card from June 2016 onwards can be included and, if the claim is successful, damages accrue until the date of judgment or settlement. The Tribunal dismissed the
objections of Mastercard and Visa to the claims being certified, ruling the cases could proceed as collective actions. It set the February 10 deadline. Steve Allen, the Class
Representatives director, said: “MIFs are like a tax on businesses and charities, increasing the cost of commercial card payments. This claim enables justice for years of being squeezed by these global card schemes.” He noted: “The thousands of
people who donate online or support UK charity shops will be shocked to learn how much money charities have lost because of excessive card fees.”
Jeremy Robinson, a partner at law
firm Harcus Parker which is acting on behalf of the Class Representatives, said: “Class action litigation is the best way to ensure Mastercard and Visa stop these unlawful charges.” Businesses with turnover
below £100 million a year are automatically included in the claim but are advised to register. The class action is fully funded, free
to join and insured against risk. i For more information, visit:
commercialcardclaim.co.uk
30 JANUARY 2025
Kenton Jarvis
79
Large firms must join lawsuit by February 10
EasyJet’s holidays arm helps reduce quarterly loss
EasyJet halved its losses in the three months to December, reporting a pre-tax loss of £61 million for what is the first quarter of the carrier’s financial year, down from £126 million in 2023. That was despite easyJet
carrying 7% more passengers (21.2 million) in the quarter than the previous year and making an average loss of £3.34 on every seat. Tour operator easyJet holidays
delivered a quarterly profit of £43 million, up £12 million on the previous year. EasyJet chief executive Kenton
Jarvis reported “strong demand” for the Easter period and said “bookings continue to build” for the summer. The airline plans to operate
12% more capacity this winter than last, 6% due to an increase in seats and the remainder to an increase in average sector length. EasyJet’s full-year capacity is forecast to grow by 8%, with a 3% increase in seats. EasyJet holidays is forecast
•US carrier United Airlines reported a pre-tax profit of
to carry 25% more passengers than last year in the 12 months to September.
$4.2 billion for 2024, including $1 billion in net profit in the final quarter of the year.
PICTURE: Shutterstock/Colinmthompson PICTURE: Shutterstock/Ekaterina_Minaeva
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
