Business Week in 60 seconds with Paul O'Donoghue
Ryanair shares take a dive despite strong Q3 results.
DESPITE what was for the most part was an impressive series of results, Ryanair saw its shares fall by 7pc on Monday after announcing its Q3 results.
The airline reported strong revenue of €1.13bn for the quarter leading to making a net profit €49m and reversing a loss of €35m for the same period last year.
The markets were clearly of a skittish frame of mind however, with shares falling by 6pc as the low-cost airline predicted that falling oil prices will result in increased competition from rival carriers.
CRH seals huge €6.5bn deal
IRELAND’S biggest company has now become even bigger after sealing a €6.5bn purchase of assets.
The company, which raised €1.6bn via a placing of just more than 74 million new ordinary shares to fund the buy from Lafarge and Holcim, reportedly beating off competition from a consortium led by Blackstone.
One-way US flights at €149!
ICELANDIC airline WOW air looks set to kick off a price war in the skies as it makes a play for the Irish consumers with cut-throat offers on flights.
The airline announced plans to offer one-way fares to Boston and Washington DC in October from as little as €149 including taxes —though fliers will have to endure a two-hour stopover in the notoriously beautiful Icelandic capital of Reykjavik. Once can only imagine how they will cope.
The awkwardly titled WOW air will operate its North American flights three times a week from Dublin to Reykjavik, with connecting flights on each of those three days to both Boston and Baltimore/Washington International.
Noonan to join emergency meeting over Greek debt
AFTER a week of turmoil for Greece and the EU, Finance Minister Michael Noonan will join counterparts from the Eurozone to discuss a way forward for the debt-ridden country.
The Eurogroup of ministers meets in Brussels on Wednesday, on the eve of an informal meeting of heads of government, to thrash out how to proceed with financial support for Athens.
The talks represent the first opportunity for the Greeks to detail what it wants. The stand-off between Greece’s creditors and its government risks leaving Athens without any funding at the end of the month, when its bailout is due to run out.
Aer Lingus deal rumbles on
DESPITE IAG offering the Government major reassurances, the Aer Lingus deal remains in serious doubt.
The aviation giant has made a concentrated effort to allay political fears over the sale of Aer Lingus, promising a number of concessions including vowing not to sell critical slots at Heathrow without Government approval.
However, a lack of guarantees on jobs is seen as a major stumbling block to the deal.
In a separate announcement, Aer Lingus happened to reveal during the week that it may see 150 redundancies across the