Europe’s biggest airline has once again outmanoeuvred rivals
Indeed, nowadays the low-cost carrier’s achievements speak for themselves with no need for gimmicks. Between its stockmarket debut in 1997 and 2019 passenger numbers rose by an average of 19% a year. While most rivals struggled to regain lost ground, Ryanair emerged from the covid-19 pandemic stronger. Summer schedules that will see the number of daily flights increase from 2,000 to 3,000 from March 29th have already attracted strong bookings.
It certainly took a bit of pluck to resist the job cuts that other airline bosses executed when covid-19 grounded many of their flights. Ryanair kept on most staff on reduced wages and rotated crews on the few remaining flights to keep their licences current. It also started hiring again before anyone else.
Negotiations with Boeing over planes for the next phase of Ryanair’s expansion have stalled, as the aircraft-maker resists more discounts. But Mr O’Leary is confident that he can strike a deal in the next couple of years that will give him the planes to carry 300m passengers by 2035. He also reckons that after 30 years of excess capacity European aviation is in for a period of stability. Barriers to entry are already going up.
France Dernières Nouvelles, France Actualités
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