Tag Archives: 7378AS

Ryanair cuts flights at Madrid and Barcelona due to the Spanish departure tax increases

Ryanair (Dublin) is cutting its presence at both Madrid and Barcelona in response to the Spanish departure tax increases.

The company issued the following statement:

“Ryanair has confirmed deep cuts to its flights at Madrid and Barcelona this winter in response to the Spanish Government doubling airport departure taxes at both Madrid and Barcelona El Prat airports on July 1. From November, Ryanair will make the following reductions in Madrid and Barcelona:

Madrid:

· 3 aircraft cut (from 14 to 11);

· 11 routes cancelled;

· 24 route frequency cuts;

· 252 weekly flights cut;

· 1.3 million passengers lost (from 5.3 million to 4 million);

· 1,300 local jobs lost (ACI).

Barcelona El Prat:

· 2 aircraft cut (from 13 to 11);

· 4 routes cancelled;

· 22 route frequency cuts;

· 240 weekly flights cut;

· 1 million passengers lost (from 5.4 million to 4.4 million);

· 1,000 local jobs lost (ACI).

Ryanair cuts are the unavoidable response to the Spanish Government’s doubling of airport taxes at both Madrid and Barcelona El Prat airports. These extortionate tax increases are particularly damaging to Spanish tourism, jobs and the economy at a time when Spanish youth unemployment stands at an alarming 50%.”

Ryanair:

Ryanair makes a new bid to take control of Aer Lingus

Ryanair (Dublin) has made another attempt to acquire a controlling share of rival Aer Lingus (Dublin). The ultra low-fare carrier which already owns slightly under 30 percent of the current Aer Lingus stock is offering a premium price of 1.30 euros a share, a 38 percent premium according to this report by Reuters. If Ryanair is successful in becoming the majority owner, the acquisition of the stock would still be subject to approval by the European Commission which in 2007 blocked a previous attempt by Ryanair due to concerns about the lack in competition in the Irish market if a transaction was approved.

Meanwhile Aer Lingus has told its shareholders to do nothing and to hold on to their shares. Will a quick profit tempt many stockholders?

Read the full report: CLICK HERE

Top Copyright Photo: Paul Bannwarth.

Ryanair: