Ryanair sees strong summer bookings, CEO says heatwave not deterring travel
O'Leary, whose airline sources almost all of its aircraft from Boeing (BA.N), opens new tab, said he was hopeful that commercial aircraft will be exempt from U.S. and EU tariffs, but admitted that "nobody is really sure".
He reaffirmed a May forecast that the Irish airline, Europe's largest by passenger numbers, would recover most, but not all, of the 7% fall in average fares reported last year as consumers struggled with high interest rates.
"Bookings into summer 2025 are strong, prices are rising," O'Leary said.
"August looks strong and all of the big holiday destinations, so Italy, Greece, Spain, the Balearics, the Canaries, even Morocco are booking very strongly through the summer," he added.
"Heat waves I would say they're a temporary phenomenon," O'Leary said. "It doesn't tend to alter the travel patterns of people this summer."
O'Leary was speaking in Warsaw, where he announced plans to treble the number of passengers Ryanair serves at the city's Modlin airport to more than 5 million a year by 2030.
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The Sun
12 minutes ago
- The Sun
I'm 27 with £120k in savings – but I don't work 9-5 and I'll even retire at 40… anyone can do it
WE'VE all fantasized about retiring from work early - but for most of us it's more of a dream than a possibility. But you don't need a high-flying job or rich parents to make it happen. Maria Psarkis, 27, explains how she has built up £120,000 in saving and plans to retire at just 40. 6 6 6 Maria is just one of a new breed of SHINERs - Side Hustlers Habitually Investing - nurturing income and retiring early. It might not sound catchy - but this group of savvy savers use side hustles and multiple income streams to build their wealth - and avoid the traditional nine to five. In their case, it's their forties when they plan to stop working, or cut their workload to just a few hours a week. Maria explains: "I've upcycled, grafted, and used SEVEN side hustles to build £150k in savings, businesses and investments. "I don't and won't do nine to five. I'm creating my own 'side hustle retirement fund' and building investments by multitasking. "It's not about quitting forever. It's about freedom and being able to choose how and when I work." Maria is not alone. Around 14% of Gen Z - those born after 1996 - want to soft retire in their 40s and stop full-time work before they hit 50, according to a 2024 YouGov survey. But rather than dreaming of sitting on the beach or enjoying a round of golf, many younger people like Maria see soft retiring as a flexible lifestyle shift – not a full stop. They want to be their own bosses and do fewer hours, work remotely and use side hustles to give them financial freedom. Psychic's path to manifesting money and getting rich | Talking Money For Maria this means being a landlord, running a fashion business and working in hospitality, consultancy and content creation. Side hustle empire Maria started to build up her side hustle empire while she was in school and still lived with her parents. "I don't come from a rich family," she said. "When I was 17, I started working on Saturdays doing admin tasks. I tried to save 60% of my wages." When she turned 18, her gran also gave her £2,000, which, when added to her Saturday job and holiday work, brought her savings up to £7,000. After leaving school, Maria worked for twelve months as a waitress, doing event management, part-time modelling and social media marketing. "I am not the typical blonde-haired model," Maria explains. "Agents liked my dark hair, nose and what they called 'Arabic looks'. "I was living at home, so I could save almost 70% of what I earned. I used that year to develop multiple skills at entry-level positions." In 2017, Maria began her hospitality management and marketing degree at the University of Chester. On top of her classes, she also worked four or five shifts a week as a waitress or at hospitality events. "I budgeted £100 a week for travel and food and saved what I could," she said. "I was modelling for fashion students, did catalogue modelling, swimwear and clubwear for fashion companies, and was helping people market themselves on social media." As part of her degree, Maria won the Entrepreneurship in action competition with her business plan for a sustainable clubwear and Gen Z fashion brand. "The judges told me my idea could be launched on a budget and would work," she said. "It was the first time anyone had really praised my business nous and money-making ideas." During that time, Maria became obsessed with side hustles, spreading investment risk and saving. She explains: "I did go out, but limited my spending. "I had fun, but on a budget. I moved in with relatives in the second year to save even more money and cut my student loan liability." By this point, Maria's savings had reached £40,000, so she decided to start investing. But she ended up learning the hard way that investments can go wrong. She chose to try bitcoin trading and invested £7,000 - but soon lost it all. "I ended up being scammed. I was gutted," she said. "Meanwhile, two friends I'd loaned money to could not pay back the £300 I lent them. "Losing £7,300 was my financial rock bottom. I was furious with myself and that anger fuelled my plan to take control and aim to soft retire at 40. "It made me hungry to make sure I was financially protected, never suffered stupid exposure levels, and was always making, not losing, money." The situation made Maria even more focused on her finances. She decided to pay £4,500 upfront for her Master of Science in Management and Marketing to avoid having to pay interest on a student loan. She made extra cash to cover the costs by working as a waitress, events manager, model, travel agent and in social media marketing and advertising. Saved thousands She says: "I made back what I lost and added to my savings. "I had money in a savings account and was using an investment Isa. "I also regularly switched current accounts when offers came up on interest rates or cash bonuses." Maria also took out a credit card with a £2,000 limit to build up her credit score, but made sure to always pay off the balance in full. By 2022, she had amassed £70,000 in savings, including earnings from part-time work, interest from her Isa and side hustles. "I worked and saved hard for the money," she admits. "My financial rock bottom inspired me. I had the savings, but I still was not investment smart." Maria decided to move in with her grandmother in Manchester to save thousands of pounds in rent payments. She used £5,000 of her savings to launch her fashion brand, XX-Attire. The company initially offered clubwear and swimwear, but now sells work-friendly fashion to customers who want sustainable but edgy fashion. Maria said: "I did pop-up shops and catwalk shows in Manchester, London, Greece and Thailand. "I worked on the clothes myself, and the business is now making a profit. "I keep an eye on costs daily, develop only ranges I know will sell out using social media algorithms and client feedback. "I also make customised outfits which can earn me more than £500 per outfit." Property portfolio Maria also realised that the way to really put her money to work was to develop a property portfolio. Two years ago, she bought a two-bedroom house in Manchester for £89,000 and rented it out. She put down a deposit of £29,000 and took out a £60,000 mortgage over 20 years at a five-year fixed rate of 2.2%. Her monthly repayments were £309.25 and she earns £850 a month in rent. "I put that rent money into the mortgage each month and was always paying extra," she said. "I added a spare tenner or fiver weekly and it's cutting years and interest repayments off my mortgage." In total, Maria is able to overpay her mortgage by £61 a month. "This means I can pay off the mortgage four years early, save £3,789 in interest, and gain 48 months of financial freedom," she explains. "Each month, I try to add even more money. The snowball effect of doing this will have a real impact on soft retirement." Maria is also looking to buy a two-bedroom flat in Manchester this year, and plans to live in one of the bedrooms and rent out the other. She plans to put down a £30,000 deposit and take out a £40,000 mortgage. She explains: "Property is a solid investment, and not buying in London means I can get into the property market early, especially as my credit rating is excellent." Clutter into cash She also sells at least £3,000 of old clothes on Vinted or eBay each year, maximises club card points and swaps credit cards or utility suppliers when there's cash to be made or a cashback incentive. "I've made £2,000 doing that. I love charity shop buying and decorating. "I have a budget and stick to it, but if I can make money, even selling old books to a book-buying site, I'll do it. "People don't understand, Gen Z are not about one job, we're about multiple jobs or side hustles. "I earn money from my social media platforms, monetising them so instead of freebies, I get paid from the creators' fund or sponsored posts. "This can pull in £2,000 to £3,000 a month. I also earn a percentage from clients I've built social media content for, through their creators' fund payments." Maria has continued to run specialist hospitality events and says the skills she's learnt since she was 17 now help her to turn a profit. "I've also developed a new side hustle with my partner, who is a chef. "I help people to plan unusual date nights, hire someone to cook for them at home or use simple recipes to recreate restaurant-style food themselves. "It's a unique idea that adds another side hustle to my businesses." She also earns £200 a month by working as a travel agent. Meanwhile, she makes £400 a month from a photo studio that she leases and uses for photo shoots, makeovers and social media marketing. Maria saves a minimum of £1,000 or more a month. "I learnt to do my own accounting at university and have an accountant sign off on it," she said. "I also pay £200 a month into a self invested personal pension and top it up when I can." Maria's now on track to build an investment portfolio, including multiple side hustle businesses, Isas and her fashion brand, and expects to be worth more than half a million within five years. "I have fun. I go out. But I never miss an opportunity or let an idea slip away," she said. "Many people want to be different. They want a side hustle but are scared because the last generation told them nine to five jobs. 'I don't want a rocking chair in my forties. I plan to be soft retired, bossing it on a beach with a laptop." 6 6 Do you have a money problem that needs sorting? Get in touch by emailing money-sm@
Telegraph
12 minutes ago
- Telegraph
‘Dad invented Freddo. He'd roll over in his grave if he knew what it costs'
The daughter of the inventor of the Freddo chocolate bar said she is 'disgusted' at how much it now costs. Leonie Wadin, 74, claimed that since the death of her father, Harry Melbourne, she had not bought one of the frog-shaped confectionaries. She told Sky News: 'Dad was disgusted with how small it is now and how much they charge for it. 'He'd roll over in his grave if he could see it now. It was a penny chocolate.' In recent years, the Freddo has become a common yardstick by which the British public track inflation. It was first sold in the UK in 1973, before being taken off the shelves the following year. In 1994, when the chocolate bar went back on sale, it cost 10p. Cost of living crisis The Freddo remained at that price until 2005, when it began increasing by about 2p every year. Today, the confectionery is sold for 30p or 35p, but has been advertised for as much as £1. Last year, a Labour MP launched a petition calling for the price of the chocolate bar to be brought down after speaking to students at a local school in his constituency. Writing on X, Patrick Hurley said: 'Twenty pence for a Freddo is too much, especially in a cost of living crisis.' If the price of a Freddo had increased in line with inflation, it would now sell for about 21p. Ms Wadin's British father invented the Freddo in 1930 while working for an Australian company while just 14. She said: 'He said children are scared of mice, so why not a frog? Because kids go down to the lake and catch tadpoles.' Almost 100 years later, her family still takes pride in their connection to the Freddo bar. Ms Wadin added: 'They're very proud of their great-grandad, they still buy them, they love them. Carry on through every heritage, that's what I want. Never going to die 'The Freddo has to be passed on, Freddo is never going to die. It will always be there… I just want it all passed down, so that the frog is always in our lives.' Mondelez International, which owns Cadbury, told Sky News that Freddo had endured popularity across generations since launching in Britain in 1973. They said: 'Whilst it's important to stress that as a manufacturer we do not set the retail prices for products sold in shops, our manufacturing and supply chain costs have increased significantly over the past 50 years, and Freddo has become more expensive to make. 'We have absorbed these increased costs wherever possible. However, on occasion we have made changes to our list prices or multipack sizes to ensure that we can continue to provide consumers with the Freddo that they love, without compromising on the great taste and quality they expect.' Earlier this month, the Bank of England warned that rising food prices could push inflation to 4 per cent. The Monetary Policy Committee said that poor global coffee and cocoa harvests were partly to blame. The price of food, clothing, air and rail fares all contributed to the rate of inflation reaching 3.6 percent last month – the highest rate since January 2024.
BreakingNews.ie
42 minutes ago
- BreakingNews.ie
Minister dismisses criticisms of Dublin metro by billionaires O'Leary and Desmond
Criticisms of the MetroLink by billionaires Michael O'Leary and Dermot Desmond have been dismissed by Darragh O'Brien. The Minister for Transport said that while he respects both businessmen, he did not agree with their comments that the proposed metro for Dublin would be out of date by the time it is built. Advertisement The 18.8km MetroLink rail line, most of which will be underground, is to run from north of Swords to Charlemont in the south of Dublin city centre at an estimated cost of €11 billion. Ryanair chief executive Michael O'Leary has made several criticisms of the Metro including that it will only serve about 100,000 people and that the money should be invested in buses instead. Desmond, estimated to be in the top 10 richest people in Ireland, also weighed in on the project, stating that by the time the metro is built, in 2035, it would be made obsolete by advancements in AI and autonomously driven vehicles. Responding to the criticisms, Mr O'Brien said: 'Dermot Desmond is a very successful business person. I don't agree with him in this instance. Advertisement 'I think it's more than about the airport. If you look at the development around the whole of Swords, North County Dublin and right the way through it in and across the city, the cost benefit analysis that's been done on the project speaks for itself. 'This is a project of significant national importance. It would not be replaced by self-driving cars. Businessman Dermot Desmond has criticised the new metro project (Andrew Milligan/PA) 'AI will certainly advance our public transport offering, unquestionably, but we've waited long enough for projects like Metrolink to get into construction. 'This Government [is] committed to it, and we will be doing it, and it will actually drive economic benefit. It will pay back to the exchequer over time, and it will improve quality of life.' Advertisement He added: 'Both people I've a lot of regard for, they're successful in their own fields. 'The reality of it is, though, we've the fifth best connected airport in Europe, an airport that's growing, that's a really important economic driver, but for an island, it's critically important by way of connectivity – [and] it doesn't have a rail link. 'But it isn't just about the airport. If you take the area of Swords, the size of a city now, that does not have a rail link. 'For us to be able to continue to grow – and our population has grown substantially since 1990, well over close to one and a half million additional people in the country – we've got to support our citizens and those who come and live in this country with a public transport network that can support what they need to do. Advertisement 'I don't agree with either of them, frankly, I think they're obviously perfectly entitled to their opinion, but this government are committed to Metro and we will deliver it.' Mr O'Brien was speaking at the opening of the new Dart station, Woodbrook, in south Dublin built between the stops of Bray and Shankill. The works on the station began in October 2023 and cost under the budgeted €24 million. Minister for Transport Darragh O'Brien (centre) after arriving by Dart at the newly opened Woodbrook station in Dublin on Sunday. Photo: Grainne Ni Aodha/PA It marks the 147th railway station in the Irish rail network and is the first new railway station in just under 15 years. Advertisement He said the station would have 191 services each week and it would take 40 minutes to get into the city centre. He noted the station was near the largest social and affordable housing scheme in the country, Shanganagh Castle Estate, which will have 2,300 homes in the area when it is completed. Mr O'Brien said the station was an example of what the Government's ambition was over the next five years in office. Ireland Ireland's newest train station opens to passengers Read More Addressing locals who attended the station's opening on Sunday, he said: 'This is your money, these are your taxes that you paid, invested in infrastructure for the good of all of our citizens and, indeed, visitors alike. 'We'll continue to do that over the course of the term of this five years, between now and the end of the decade. 'I believe that this period of time can be transformational for our public transport system, particularly our rail system, right the way across the country.'
