O'Leary has a go at Boeing
Sunday November 08 2009
IS Ryanair finally getting ready to pay a dividend? After picking fights with just about everyone else Michael O'Leary turned his fire on aircraft makers Boeing this week.
He accused the US aircraft manufacturer of not playing its part in the budget airline's campaign to cut costs. "We see no point in continuing to grow rapidly in a declining yield environment, where our main aircraft partner is unwilling to play its part in our cost-reduction programme", he said.
Now call me cynical, but I can't help feeling that O'Leary is using Boeing as a whipping boy.
Having set his face against dividends for so long, returning cash to shareholders would still represent a considerable loss of face for O'Leary. All of which means that we can expect to hear much of the alleged iniquities of Boeing in the near future.
Sunday Independent
