Never one to miss an opportunity, Ryanair, which today reported a a third quarter net loss of EUR102 million, says it expects to benefit from “traffic collapses” at European airports.
Here’s what Ryanair chief executive Michael O’Leary had to say on the matter: “The dramatic cut in flights and capacity by many of Europe’s flag carriers has created traffic collapses at many of Europe’s larger airports. This is creating enormous opportunities for Ryanair, as these airports compete to reduce charges in order to attract Ryanair’s growth and to develop low-cost facilities to take advantage of Ryanair’s quick turnarounds and our improved web check-in facilities.
“This movement towards lower cost, more efficient airports in Europe is welcome, even if it is 20 years too late.”
And this is not where Ryanair’s optimism ends. It sees itself as the “Lidl, Aldi, Ikea and McDonald’s” of the airline industry, with O’Leary boasting that “the longer and deeper this recession, the better it will be for the lowest cost producers in every sector”.
Despite the losses posted by Ryanair this morning, O’Leary says it will return to “substantial profitability next year”, and will be one of “four large European airlines” left in the market – the others being “high fare fuel surchargers” Air France, British Airways and Lufthansa.
Say what you like about O’Leary, but he can’t be accused of pessimism or bashfulness!
Posted by Kerry Ezard, who is stranded at home by the snow and unable to log in to her own blogging account!