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Last Updated: Oct 9, 2015 - 12:32 AM |
News
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Irish
Ryanair today revised its full year traffic guidance up from 89m to just over 90m customers, and raised its full year profit after-tax forecast from its previous range of €750m to €770m, to a new range of €810m to €830m. The airline said that the final full year profit will still be heavily reliant on close in bookings and yields in Q4 (Jan – Mar 15) over which it presently has very little visibility.
News
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Irish
AIB, the State-owned Irish bank, released an Interim Management Statement Monday with margins and net write-backs the standout factors.
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Irish
Ryanair today announced that half-year profits to September 30, 2014 rose by 32% to €795m.
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Irish
Ryanair held its 2014 AGM at its new Dublin offices in Swords today, during which the airline briefed shareholders on the continuing success of its improving customer experience, and the strong early uptake of its new Business Plus service. The continuing success of these ‘Always Getting Better' initiatives has enabled Ryanair to raise its full year traffic forecast from 86m to 87m customers, and move its full year net profit towards the upper end of its (previously guided) €620m to €650m range.
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Irish
Ryanair, Europe's biggest low-fares airline today signed an agreement with Boeing to purchase up to 200 new Boeing 737 MAX 200 "gamechanger" aircraft (100 firm & 100 options). When finalised and all options exercised, this deal will be worth over $22bn at current list prices. Ryanair becomes the lead customer for this new aircraft which for Ryanair will feature 197 seats (8 more than Ryanair's existing 737-800s) and new CFM LEAP-1B engines, which combined with aerodynamic improvements will reduce fuel consumption by up to 18% in Ryanair's configuration and reduce operational noise emissions by 40%. Ryanir said : "This will further reduce Ryanair's industry leading low costs, and these savings will be passed on via lower fares to Ryanair's customers, which will now grow from 82m in 2014 to over 150m customers p.a. by the end of the delivery stream in FY2024."
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Irish
Our website will be moved to a new server today
Thursday, which will result in an interruption in service for some period during
the day.
Jul 31, 2014 - 1:14 AM
News
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Irish
The State-owned Allied Irish Banks (AIB) returned to profit in H1 2014 reporting a pre-tax profit of €437m compared with an €838m loss the same period in 2013 - - charges for bad loans plunged to €92m from €738m in the first half of 2013.
Jul 30, 2014 - 10:16 AM
News
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Irish
Ryanair, Europe's biggest low fair airline, reported Monday that profit in its financial first quarter soared 152%, as it raised its full-year profit forecast and said it would pay a special dividend following a 12-month period that had begun with profit warnings.
Jul 28, 2014 - 7:46 AM
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Irish
Van Monster, a UK firm, has opened Ireland's first dedicated used van dealership with a €300,000 investment in their new Dublin branch.
Jun 3, 2014 - 5:25 AM
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Irish
Ryanair, Europe’s biggest low fares airline, today announced full year net profit after tax of €522.8m, down 8% from €569.3m last year. Traffic grew 3% to 81.7m passengers. Revenue per passenger was flat, as strong ancillary revenue growth offset a 4% drop in average fares. Excluding fuel, sector length adjusted unit costs fell by 3%. Separately, Reuters reports that Ryanair will commence services to the United States in 2019.
May 19, 2014 - 7:03 AM
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Irish
Global Financial Centres Index: New York, London, Hong Kong and Singapore remain the top four global financial centres. New York is now slightly leading London and has been overtaken in the index, mainly due to London falling (it is the largest faller in the top 50 centres). Dublin's IFSC slips to 66 of 83 cities -- down 10 ranks in the biannual survey of financial services professionals. The Irish capital is ranked at 19 of the top 20 European centres.
Mar 17, 2014 - 8:24 AM
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Irish
Bank of Ireland
reported Monday a “significant” improvement in its full-year results for
2013, with pre-tax losses falling from €1.5bn in 2012 to €569m in 2013,
as income rose while bad debt charges dropped to €1.66bn.
Mar 3, 2014 - 9:23 AM
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Irish
The sales process for projects Rock and Salt, portfolios of CRE loans primarily originated in the UK with a combined par value of €7.3bn has been concluded with all of the assets being sold to third parties at prices in excess of the independent valuations. It is now expected that none of these assets will transfer to NAMA, Ireland's toxic property loans agency.
Feb 26, 2014 - 1:41 PM
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Irish
CRH plc, Europe's biggest building materials group, headquartered in Dublin and with a primary listing in London, said today that 2014 will be year of profit growth after reporting a 2013 loss.
Feb 25, 2014 - 9:10 AM
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Irish
Ryanair today reported a third-quarter loss, in line with previous guidance, after Europe’s biggest low-fares airline cut ticket prices in response to increased competition.
Feb 3, 2014 - 8:13 AM
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Irish
Irish Water today told the Oireachtas Joint Committee on the Environment, Culture and the Gaeltacht that Bord Gáis expertise has shaved close to c€100m from the setup bill for the agency. He did not say if there would be an inter-agency charge.
Jan 14, 2014 - 3:54 PM
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Irish
RSA Insurance, the UK firm, said in a statement today that it had fired the RSA Ireland CFO, Rory O’Connor and the RSA Ireland claims director, Peter Burke, who "were dismissed for their roles in relation to large loss and claims accounting irregularities." Both dismissals were confirmed yesterday following the completion of appeal processes. The RSA Ireland chief executive Philip Smith who was suspended with his two colleagues in November, resigned that month.
Jan 9, 2014 - 11:40 AM
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Irish
Bank of Ireland said today that it will not be required to generate additional capital following the Central Bank of Ireland’s balance sheet assessment while AIB said it remains "well capitalised." However, BoI will have to raise provisions by about €1.4bn.
Dec 2, 2013 - 9:03 AM
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Irish
CRH plc, the international building materials group, headquartered in Dublin and listed in London, said today in an interim management statement that third quarter group like-for-like sales (lfl) growth was at 2% and quarterly EBITDA (earnings before interest, tax, depreciation and amortization) 3% ahead of 2012 despite adverse currency translation effects.
Nov 12, 2013 - 10:05 AM
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Irish
Following an application by the Central Bank of Ireland, the High Court on Sunday approved the transfer of Newbridge Credit Union to permanent tsb (ptsb), which has assumed ownership and management of the customer assets and liabilities of the credit union. The Bank said transfer was required due to the financial difficulties at Newbridge Credit Union and following a decision of Naas Credit Union not to proceed with its proposed combination with Newbridge.
Nov 11, 2013 - 6:41 AM
News
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Irish
Ryanair today reported that H1 profits, in the period April-September 2013, rose by 1% to €602m, as its traffic grew 2% to 49m passengers. Revenue per passenger increased 2% due to a 22% rise in ancillary revenues. Unit costs rose 3% largely due to a 7% increase in fuel prices. Average fares fell by 2% during the half year, and have continued to fall this winter, which will lead to a reduction in Ryanair’s full year profit guidance from €570m to approx. €510m.
Nov 4, 2013 - 8:04 AM
News
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Irish
At the Dublin Web Summit today, the Irish Stock Exchange (ISE) and NASDAQ OMX (NASDAQ:NDAQ) announced their intention to bring dual ISE/US market access to Irish companies enabling them to raise capital more easily on both sides of the Atlantic.
Oct 30, 2013 - 1:00 PM
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Irish
Irish pension managed funds returned to growth during September, having declined during August, with an average return of 2.2% for the month. Standard Life Investments took top spot with a return of 3.1% for the month, while Setanta Asset Management propped up the league table with a return of 1.3%. Over the third quarter of 2013, the average managed fund gained 4.0%.
Oct 4, 2013 - 7:47 AM
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Irish
Dan O’Brien has resigned as economics editor of The Irish Times and plans to write for Independent Newspapers, among other other responsibilities.
Sep 26, 2013 - 4:31 PM
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Irish
The Central Bank said it would not file additional reports to the authorities following a review of phone calls recordings from Anglo Irish Bank, which were published by The Irish Independent.
Sep 24, 2013 - 3:52 PM
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Irish
Ryanair flew 9m passengers and Aer Lingus carried 1.1m in August, according to the airlines today.
Sep 5, 2013 - 12:20 PM
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Irish
Ryanair will be required to sell its 29.8% stake in Aer Lingus Group plc (Aer Lingus) down to 5%. This will be accompanied by obligations on Ryanair not to seek or accept board representation or acquire further shares. In its final report published today, the UK Competition Commission (UKCC) confirmed its provisional findings that Ryanair’s minority shareholding had led or may be expected to lead to a substantial lessening of competition between the airlines on routes between Great Britain and Ireland.
Aug 28, 2013 - 2:35 PM
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Irish
CRH plc, which is headquartered in Dublin, Ireland and is the second-biggest building materials supplier in the world, and the market leader in the United States, today reported its half-year results which show both a drop in revenue and loss.
Aug 20, 2013 - 10:12 AM
News
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Irish
Vodafone, the British mobile phone giant, refunded an estimated €67m to the UK's Revenue & Customs after the discovery of an Irish tax haven deal that enabled the group on receipt of royalties at a shell company in Dublin, to transfer over €1bn in dividends to low-tax Luxembourg.
Aug 19, 2013 - 9:32 AM
News
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Irish
RBS (Royal Bank of Scotland), which is 81% owned by the British government, today reported a half year profit while its Irish unit, Ulster Bank, posted a reduced loss.
Aug 2, 2013 - 11:30 AM
News
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Irish
Bank of Ireland reported today that it cut its pretax losses in HI (six months to June 30) 2013 to €504m compared with €1.2bn in the same period in 2012.
Aug 2, 2013 - 8:46 AM
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Irish
The Irish State owns 99.8% of the ordinary shares of Allied Irish Banks (AIB) and today it reported losses of €758m in H1 (the six months to June 30) 2013, compared with €1bn in the same period in 2012.
Aug 1, 2013 - 9:13 AM
News
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Irish
We are taking a short staff break
from today and we will resume publication on Tuesday, July 30, 2013.
Jul 25, 2013 - 8:58 AM
News
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Irish
For the first time since October 2012, Irish managed pension funds declined in June, with an average return of -2.8% for the month.
Jul 4, 2013 - 8:15 AM
News
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Irish
Vhi Healthcare today announced a surplus after tax of €54.3m for its consolidated business has been recorded. This includes a once-off credit of €38.2m relating to the write-back of curtailed retirement benefits. Excluding this one-off item, the surplus would have been approximately €16.1m. The private health insurance element of Vhi Healthcare’s business was loss making with an underwriting loss of €7.2m recorded.
Jun 26, 2013 - 4:40 PM
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Irish
Jack Schuler, a senior US pharmaceutical industry executive who is a former board member at Elan, in a letter to The Financial Times today, has questioned the experience and competence of the company’s management and claimed its recent proposed investment transactions were “value destructive.”
Jun 12, 2013 - 10:33 AM
News
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Irish
Aer Lingus today said its board of directors has supported a proposal to make a once-off contribution of €140m to employee pensions as part of a deal to avoid possible strikes at the airline. Ryanair, a minority shareholder in the former State airline, is apoplectic and it condemned the "spineless board and management of Aer Lingus which has accepted the latest crazy Irish Labour Court recommendation."
May 31, 2013 - 3:52 PM
News
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Irish
Principal news stories from the Irish Independent, Irish Times and Irish Examiner.
May 22, 2013 - 7:21 AM
News
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Irish
Principal news stories from the Irish Independent, Irish Times and Irish Examiner.
May 21, 2013 - 9:37 AM
News
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Irish
Ryanair, Europe’s biggest low cost carrier, announced Monday record annual profits of €569m, up 13% on last year despite higher oil costs. Revenues rose to €4.88bn as traffic grew 5% to 79.3m passengers. Unit costs rose 8% mainly due to an 18% (€292m) increase in fuel. Excluding fuel unit costs rose by 3%, while average fares improved by 6%.
May 20, 2013 - 9:01 AM
