DUBLIN, Sept 13 (Reuters) – The profitability of European
airlines will be squeezed in coming months due to heavy
discounting by Ryanair, its Irish rival Aer Lingus
said on Friday as it cut its profit forecast for the
Ryanair, which flies more international scheduled passengers
than any other European airline, said last week it planned to
introduce “aggressive” pricing to maintain volumes amid signs of
weak demand in the autumn.
DUBLIN (Reuters) – Ryanair (RYA.I: Quote, Profile, Research), Europe’s biggest budget airline, could miss its annual profit target for the first time in a decade, it said on Wednesday, blaming lower demand across the continent and a weaker currency in its largest market, Britain.
Shares in the Irish group, which has routinely beaten profit forecasts in recent years, dropped as much as 15 percent to a five-month low, dragging down other airline and travel stocks.
DUBLIN, Sept 4 (Reuters) – Ryanair, Europe’s biggest
budget airline, could miss its full-year profit forecast
following a dip in bookings, it said on Wednesday, blaming
growing competition and a drop in the value of the British
Shares in the Irish group, which has routinely beaten profit
forecasts in recent years, dropped as much as 15 percent to a
five-month low, dragging down other airline stocks.
DUBLIN, Aug 28 (Reuters) – Britain’s competition watchdog on
Wednesday ordered Ryanair to cut its stake in smaller
Irish rival Aer Lingus to 5 percent from 30 percent, saying the
current arrangement had the potential to substantially reduce
Ryanair said would appeal against what it described as a
“bizarre and manifestly wrong” decision in a legal process that
could last years.
DUBLIN, Aug 23 (Reuters) – Ireland’s mortgage crisis
deepened in the second quarter as the number of households in
arrears grew, frustrating expectations that a fall in
unemployment and pressure on banks to cut deals with borrowers
might have brought relief.
Ireland’s stock of bad household debt is a major impediment
to the country’s economic recovery as it prepares to exit its
EU/IMF bailout, and could force the government to inject further
capital into its lenders.
DUBLIN, Aug 21 (Reuters) – Ireland has appointed a French
official to take over as the country’s financial regulator, the
second foreigner to fill the role since the collapse of the
country’s banking system forced it into an EU-IMF bailout.
Cyril Roux, an insurance specialist who is currently a
senior official at the French prudential supervisory authority,
the ACPR, will replace Briton Matthew Elderfield, who is
stepping down for personal reasons.
MULLINGAR, Ireland, July 28 (Reuters) – Struggling cafe
owner Julie Mangan rolls her eyes at talk of packed restaurants
and queues for house viewings in Dublin as proof that Ireland’s
battered economy is finally on the mend.
With two consecutive years of growth, falling unemployment
and the property market showing signs of life, Ireland is being
held up by European leaders as the continent’s best chance for a
bail-out success story.
DUBLIN, July 23 (Reuters) – Irish residential property
prices have recorded their first annual rise since a property
crash crippled the country’s economy in 2008, a landmark in what
has been an uneven recovery for the bailed-out country.
Property prices across the country increased by 1.2 percent
in June, up from an annual fall of 14.4 percent in the same
month last year and the first rise since January 2008, the
central statistics office said.
DUBLIN, July 17 (Reuters) – Irish state-owned mortgage
lender Permanent TSB will submit a revised restructuring
plan to the Irish authorities by July 31 as the government bids
to complete a banking overhaul, sources close to the matter
Permanent TSB, then known as Irish Life & Permanent,
received 4 billion euros ($5.25 billion) of state aid in 2011
and submitted a business plan to the European Commission in June
BELFAST (Reuters) – Protestant youths hurled petrol bombs at police in Northern Ireland, wounding at least 27 officers in a fourth night of protests over restrictions on traditional marches, as the White House expressed “deep concern” about the violence.
The regional parliament, recalled from its summer recess, was due to meet on Tuesday to discuss ways of restoring order.