Latest news with #MichaelOLeary
Yahoo
4 hours ago
- Business
- Yahoo
Ryanair boss considers increasing staff bonus to tackle excess baggage ‘scourge'
Ryanair ( is considering increasing a bonus paid to staff for identifying passengers' oversized luggage, its chief executive said. The airline currently pays staff around 1.50 euros (£1.30) for intercepting customers who are bringing bags on to the aircraft. It is reported that the bonus is capped at about 80 euros (£70) for each staff member per month. Passengers are charged a fee of up to 75 euros (£65) for bringing luggage that is larger than they paid for while booking their journey. Ryanair currently includes a small carry-on bag – capped at a size of 40x20x25cm and weight of 10kg – with every ticket. Passengers must pay a fee if they want to bring larger luggage, or if they want to bring multiple bags. Ryanair boss Michael O'Leary said on Monday that summer fares would, on average, be the same rate as 2023 – but added that he expects a boost in profitability for the airline by 'controlling costs'. Members of the European Parliament are pushing for airlines to allow passengers to be allowed to bring on free an on-board personal item and small hand luggage. However, Mr O'Leary predicted the proposal will not come into law due to a lack of space. Speaking to the business news on RTE's Morning Ireland, he said: 'We're flying largely full flights, about half the passengers can bring two bags and the other half can only bring one – because that's all that fits in the plane. 'We're already struggling with that amount of baggage. 'That's one of the reasons we are so aggressive about eliminating the scourge of passengers with excess baggage.' Mr O'Leary said more than 99.9% of passengers comply with baggage rules, with 'sizers' located within the airport. He said: 'We are happy to incentivise our (staff) with a share of those excess baggage fees, which we think will decline over the coming year or two.' The chief executive added: 'It is about 1.50 euro per bag – and we're thinking of increasing it, so we eliminate it.' Meanwhile, Mr O'Leary predicted that US President Donald Trump will 'chicken out' of introducing increased tariffs for Europe on August 1. Asked if he anticipated tariffs applying to Boeing aircraft being delivered to the airline, he said: 'Trump will probably chicken out again, I suspect the August 1 will get moved to September or October. 'We have taken delivery of five aircraft in the first quarter but no tariffs applied to those aircraft 'There is a risk of tariffs being introduced by the Europeans or the Americans in some tit-for-tat in August, September or October – but Boeing (BA) will have to pay those tariffs.' Mr O'Leary said Ryanair would work with Boeing to ensure no tariffs are applied to commercial aircraft, which he said would be bad for the manufacturer's exports to Europe as well as Airbus's ( sales to the US – as well as the Irish aircraft leasing industry. He added: 'There's increasing optimism, though, in Washington that commercial aircraft will be exempt from any tariffs – if Trump ever gets around to actually imposing tariffs.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Sun
6 hours ago
- Business
- The Sun
Ryanair boss considering increasing bonus paid to staff for flagging oversized bags
RYANAIR boss Michael O'Leary said the airline is considering increasing a bonus paid to staff for intercepting excess baggage. Employees currently earn around £1.30 per item for flagging oversized bags, which is capped at £70 per month. 1 However, O'Leary said it could rise to motivate staff and curb the 'scourge' of excess baggage. He told RTE's Morning Ireland: 'We're flying largely full flights, about half the passengers can bring two bags and the other half can only bring one — because that's all that fits in the plane. 'We're already struggling with that amount of baggage.' The firm currently includes a small carry-on bag — capped at a size of 40x20x25cm and weight of 10kg – with every ticket. Passengers are charged a fee of up to £65 for bringing luggage that is larger than they paid for while booking their journey. Mr O'Leary said: 'We are happy to incentivise our (staff) with a share of those excess baggage fees, which we think will decline over the coming year or two.' European lawmakers want easier baggage rules, but Mr O'Leary dismissed the idea, saying that cabin space is already limited. Ryanair recently reported a quarterly net profit of £710million. more than doubling last year's figures, as fares surged 21 per cent. However, passenger growth remains hampered by delays in aircraft deliveries. Airport baggage handler issues warning about item 'never to pack' that will see you 'called from plane' and searched BP'S NEW BOSS BP has officially appointed a successor to outgoing chairman Helge Lund. Albert Manifold, former CEO of building materials firm CRH, will take the reins on October 1. Dame Andrea Blanc, who led the successor search, said he was the 'ideal candidate to oversee BP's next chapter.' Shares rose by 1 per cent after the news yesterday. Outgoing boss Mr Lund left after backlash over a failed green energy pivot. INFLATION HITS SAVERS MILLIONS of Brits are losing money as £660billion in savings sits in accounts that do not keep up with inflation. Over 67million accounts pay 3.5 per cent or less, while inflation rose to 3.6 per cent in June, says savings app Spring. Derek Sprawling, from the firm, said: 'As inflation continues to climb, the real value of people's savings is being steadily eroded. It's time to review where money is held.' Accounts including Cahoot's Sunny Day Saver and Chase's Saver currently offer rates of up to five per cent.
The Independent
6 hours ago
- Business
- The Independent
Ryanair boss reveals exact bonus staff get for catching oversized bags
Ryanair boss Michael O'Leary has revealed the bonus his staff receive for identifying oversized bags before they reach the plane - and is weighing up increasing it. Speaking to Petula Martyn on RTE Radio 1 this morning (21 July), O'Leary confirmed Ryanair staff get a bonus of around €1.50 per bag caught. 'We're thinking of increasing it, so that we eliminate [oversized bags],' he added. O'Leary also claimed there was 'no chance' of European Parliament proposals allowing passengers to bring a 7kg bag onboard planes for free passing into law because 'that amount of bags don't fit on the aircraft'.
Irish Times
11 hours ago
- Business
- Irish Times
Shares advance as corporate earnings parade ramps up
European and US shares advanced at the start of a busy week on the corporate earnings and policy fronts, with the European Central Bank's governing council set to meet on Wednesday and Thursday. On Wall Street, the main indices hit record highs on big gains from megacap stocks. DUBLIN Outperforming many European indices, the ISEQ closed up 1.3 per cent on Monday, led higher by a surge in Ryanair's shares. The airline advanced by 5.7 per cent to €24.44 per share after reporting that its profits more than doubled to €820 million in the three months to the end of June. Ryanair chief executive Michael O'Leary said the carrier's fares had benefited substantially from having a full Easter holiday in April. READ MORE Bank shares were mixed, with AIB edging slightly higher to €6.58 per share while Bank of Ireland dipped by 0.3 per cent to €11.81 per share. Shares in hotel group Dalata slid 0.3 per cent to €6.37 per share. LONDON UK shares inched higher, supported by industrial miners that jumped on hopes of stimulus from China. The benchmark FTSE 100 index closed up by 0.2 per cent, and the domestic-focused FTSE 250 added 0.5 per cent. Led by Antofagasta, which jumped 4.7 per cent, mining stocks were among the biggest gainers on the session. Anglo American jumped 3.3 per cent, with Glencore advancing by 3 per cent and Rio Tinto adding 2.7 per cent. The move came on foot of China's promise to stabilise its industrial growth, and on hopes for more stimulus from the world's largest commodity consumer. BP rose 0.26 per cent after naming former CRH chief executive Albert Manifold as its next chairman. Activist Elliot Investment Management said it would work with the Irishman to 'urgently' address shortcomings at the oil major. Banks ended the day well. NatWest finished 1.4 per cent higher, with Lloyds up 1.3 per cent and HSBC edged 1 per cent higher. EUROPE European shares were softer as markets await developments in trade talks between the EU and the US. The blue-chip Stoxx 50 index fell by 0.3 per cent while the pan-European Stoxx 600 dipped by just over 0.1 per cent. Shares in Stellantis jumped by 1.5 per cent despite the Fiat and Peugeot-maker reporting a net loss of €2.3 billion for the first half of the year. The company also said it would take a €300 million hit from the impact of Trump's tariffs, including the cost of lost production. Other automakers also jumped, with BMW up 1.1 per cent, Volkswagen up 0.6 per cent and Mercedes-Benz ahead by 0.4 per cent. Also on the earnings front, Portugal's Galp Energia rose 1.7 per cent after raising its core profit target and announcing that it plans to find a partner to develop a promising oil discovery off Namibia. NEW YORK The S&P 500 and the Nasdaq reached new record highs on Monday, bolstered by gains in megacaps as investors geared up for the week's big tech earnings, while the prospects of fresh trade deals also boosted sentiment. The S&P 500 advanced by 0.6 per cent, while the Nasdaq Composite jumped 0.5 per cent and the Dow Jones Industrial Average moved 0.5 per cent higher to just 1.28 per cent below its all-time high. Verizon gained 4.1 per cent after boosting its annual profit forecast. The stock also drove up the communications sector, which emerged as the top gainer among other sectors. The spotlight was on Google-parent Alphabet and electric-vehicle maker Tesla, whose results this week will kick off the 'Magnificent Seven' earnings parade, and could set the tone for Wall Street. Shares of Alphabet rose 2.1 per cent, while Tesla dipped 0.2 per cent. Both stocks have lagged their peers so far this year. – Additional reporting: Bloomberg, Reuters
Daily Mail
13 hours ago
- Business
- Daily Mail
Ryanair boss Michael O'Leary says he's 'happy to incentivise' staff to crack down on oversized luggage
Ryanair is considering increasing a bonus paid to staff for identifying passengers' oversized luggage, its chief executive has announced. The airline currently pays staff around €1.50 (£1.30) for intercepting customers who are bringing bags on to the aircraft. It is reported that the bonus is capped at about €80 (£70) for each staff member per month. Passengers are charged a fee of up to €75 (£65) for bringing luggage that is larger than they paid for while booking their journey. Ryanair currently includes a small carry-on bag - capped at a size of 40x20x25cm and weight of 10kg - with every ticket. Passengers must pay a fee if they want to bring larger luggage, or if they want to bring multiple bags. Ryanair boss Michael O'Leary said on Monday that summer fares would, on average, be the same rate as 2023 - but added that he expects a boost in profitability for the airline by 'controlling costs'. Members of the European Parliament are pushing for airlines to allow passengers to be allowed to bring on free an on-board personal item and small hand luggage. However, Mr O'Leary predicted the proposal will not come into law due to a lack of space. Speaking to the business news on RTE's Morning Ireland, he said: 'We're flying largely full flights, about half the passengers can bring two bags and the other half can only bring one - because that's all that fits in the plane. 'We're already struggling with that amount of baggage. 'That's one of the reasons we are so aggressive about eliminating the scourge of passengers with excess baggage.' Mr O'Leary said more than 99.9 per cent of passengers comply with baggage rules, with 'sizers' located within the airport. He said: 'We are happy to incentivise our (staff) with a share of those excess baggage fees, which we think will decline over the coming year or two.' The chief executive added: 'It is about €1.50 per bag - and we're thinking of increasing it, so we eliminate it.' Meanwhile, Mr O'Leary predicted that US President Donald Trump will 'chicken out' of introducing increased tariffs for Europe on August 1. Ryanair currently includes a small carry-on bag - capped at a size of 40x20x25cm and weight of 10kg - with every ticket Asked if he anticipated tariffs applying to Boeing aircraft being delivered to the airline, he said: 'Trump will probably chicken out again, I suspect the August 1 will get moved to September or October. 'We have taken delivery of five aircraft in the first quarter but no tariffs applied to those aircraft 'There is a risk of tariffs being introduced by the Europeans or the Americans in some tit-for-tat in August, September or October - but Boeing will have to pay those tariffs.' Mr O'Leary said Ryanair would work with Boeing to ensure no tariffs are applied to commercial aircraft, which he said would be bad for the manufacturer's exports to Europe as well as Airbus's sales to the US - as well as the Irish aircraft leasing industry. He added: 'There's increasing optimism, though, in Washington that commercial aircraft will be exempt from any tariffs - if Trump ever gets around to actually imposing tariffs.'
