💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Ryanair says holiday bookings surge, sees Britain dropping quarantine

Published 05/27/2020, 05:42 AM
Updated 05/27/2020, 05:45 AM
© Reuters. FILE PHOTO: Ryanair Chief Executive Michael O'Leary attends the Europe Aviation Summit in Brussels
0RYA
-
BKNG
-

By Conor Humphries

DUBLIN (Reuters) - Ryanair (I:RYA) expects Britain to join European nations in dropping COVID-19 quarantine plans in the coming weeks, Chief Executive Michael O'Leary said in an interview on Wednesday, reporting a "big surge" in holiday bookings from the country.

Last week Britain announced a 14-day quarantine from June 8 for arrivals from abroad, including citizens, as other nations, such as Italy and Spain, declared plans to ease theirs.

O'Leary, who has described the plan as "unenforceable", said many customers in Britain appeared to be ignoring the rules, with booking rates in recent days showing the airline's 1,000 daily flights were likely to be more than half-full in July.

"The UK and Ireland will either quietly drop them or drop them as another easing measure in the next week or two. I am confident of that," O'Leary said.

"There will be movement, because people are just going to ignore it. We have seen a big surge in bookings on our flights out of Ireland and the UK to Spain, Portugal and Italy over the weekend, and that seems to be continuing this week."

O'Leary said the booking patterns made him "reasonably confident" that the low-cost giant's planes would be 50% to 60% full when it resumes flying 40% of its fleet in July, or about 1,000 flights a day.

Booking (NASDAQ:BKNG) are strong for all the main holiday destinations, including Croatia, France, Greece, Portugal and Spain, he added. Ryanair hopes a busy holiday season will boost confidence in Europe in flying for normal business activity.

© Reuters. FILE PHOTO: Ryanair Chief Executive Michael O'Leary attends the Europe Aviation Summit in Brussels

(Interactive graphic tracking global spread of coronavirus: https://graphics.reuters.com/CHINA-HEALTH-MAP/0100B59S39E/index.html)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.