Ryanair to halt expansion programme
Leading budget airline Ryanair has today confirmed plans to refocus the business and potentially deliver increased income to shareholders if a deal to acquire further planes from Boeing is not secured by the end of the year. This would bring to an end years of aggressive growth from the Irish-based company which has taken on and beaten many of its rivals.
Commenting upon the potential move away from growth, chief executive Michael O'Leary confirmed that Ryanair will "change course before the end of this fiscal year and manage the airline over the next three years to maximise cash for distribution to shareholders". While there is no doubt that the industry has struggled over the last few months due to reduced business levels, higher costs and yet more taxes introduced by the government, many will be surprised to see controversial chief executive Michael O'Leary taking a step back out of the limelight.
However, when you consider the financial mess which British Airways and other airlines around the UK are in it is perhaps not as surprising as you may think. If the company decides to maximise cash distribution over the next three years we would have to ask ourselves what will happen after the initial three-year period is up?
Share this..
Related stories
High street banks see tough competition for current accounts
22/04/2015 Competition in the current account market is picking up as major banks come under pressure to offer perks and rewards. HSBC, Barclays, Lloyds Banking Group and RBS have so far dominated the current account market, holding 75% of all accounts. Since the seven day switch guarantee was introduced in September 2013, some smaller firms have widened their elements of competition, offeri...
Read MoreGordon Browns crusade to save the financial markets
As Gordon Brown urges the rest of the world to follow his lead and pump billions of pounds of tax payer's money into the banking system you could be mistaken for thinking that he has gone from zero to hero in a matter of day, but is this really the case? Are we now suddenly in Gordon's world?
The harsh truth of the matter is that while Gordon Brown has had his best few days for a lo...
Lib Dems announce 4p tax cut plans
The Liberal Democrats have said that they would slash the basic rate of income tax by four pence if they were elected to form a government.Unveiling the proposals the party stressed that the tax cut aimed at low and middle income earners would be paid for by fiscally targeting the rich and those with "environmentally damaging lifestyles".Plans to cut income tax from 20p to 16p will take the basic...
Read MoreRise of the female millionaire
The number of female millionaires in Britain is "soaring", a new study claims.Research by Datamonitor shows that changing social trends, including the UK's increased divorce rates and lucrative inheritances, are contributing to the rise in wealthy women.But the business analyst says that the gap between the richest men and women is still substantial, currently standing at 112 per cent.In 2005 the...
Read MoreWhat happens to your pension in a divorce?
How your pension can be affected by your divorce Divorce can have a huge impact on your life, your money and even your pension. We have spoken to Anita Shepherd, head of family law at Davis Blank Furniss, to help navigate the legalities involved. We going through the painful process of divorce, your pension may be one of the last things to be taken into consideration. Many people don’t eve...
Read More