Conor's Feed
Oct 8, 2013

Bailed-out Ireland gets green light to ease up on austerity

DUBLIN (Reuters) – Ireland’s international lenders have given it significant leeway to ease up on austerity in its 2014 budget after it promised to keep hitting all its main targets under a bailout agreement, the government said on Tuesday.

Ireland has been the euro zone’s bailout success story and is on track to exit its international aid programme later this year, while other bailed-out countries struggle to hit their deficit targets.

Oct 4, 2013

IMF cuts Irish growth forecasts, sees big risks to recovery

DUBLIN, Oct 4 (Reuters) – The International Monetary Fund
cut its growth forecasts for Ireland on Friday and warned of
significant risks to the country’s recovery as it prepares to
exit its EU-IMF bailout.

Ireland remains on course to become the first euro zone
country to complete an international bailout later this year,
but stubbornly low economic growth threatens to derail hopes of
putting its national debt onto a sustainable path next year.

Oct 1, 2013

Flush with cash, Ireland delays debt sales until 2014

DUBLIN, Oct 1 (Reuters) – Ireland, set to become the first
euro zone country to exit an international bailout this year,
has decided not to issue any more bonds this year as it has
enough cash on hand, the debt agency said on Tuesday.

The National Treasury Management Agency (NTMA) had planned
to tap markets in the final quarter to fully demonstrate the
“regular market access” that the European Central Bank says is
necessary for its bond-buying programme.

Sep 20, 2013

Ryanair unveils new strategy: ‘be nice to customers’

DUBLIN (Reuters) – Ryanair (RYA.I: Quote, Profile, Research, Stock Buzz), Europe’s biggest budget airline, has promised to transform its “abrupt culture” in a bid to win customers from costlier rivals, admitting for the first time that a reputation for treating its passengers badly might have become a problem.

The Irish firm, this week voted the worst of the 100 biggest brands serving the British market by readers of consumer magazine Which?, said on Friday it would become more lenient on fining customers over bag sizes and overhaul the way it communicates.

Sep 19, 2013

Ireland exits recession but little room to ease austerity

DUBLIN (Reuters) – Ireland emerged from its second recession in five years in the second quarter but tepid growth left official forecasts for the year in doubt and may dash government hopes of easing up on austerity.

Ireland is set to become the first country to exit an EU/IMF bailout later this year after returning to debt markets but its economy still needs to start growing by more than 2 percent from next year on to help make its national debt sustainable.

Sep 13, 2013

Aer Lingus says Ryanair discounting to hit EU airlines

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
year.

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.

Sep 4, 2013

Ryanair warns on profit, blaming weak Europe and sterling

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.

Sep 4, 2013

Ryanair warns weak bookings to drag on profits

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
pound.

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.

Aug 28, 2013

UK orders Ryanair to cut Aer Lingus stake

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
competition.

Ryanair said would appeal against what it described as a
“bizarre and manifestly wrong” decision in a legal process that
could last years.

Aug 23, 2013

Irish mortgage arrears grow again as bailout exit nears

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.