Ryanair Discounts Transatlantic Service At this Time

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In a post earlier, we advised that BBC News had reported that European discount carrier Ryanair was poised to live up CEO Michael O’Leary’s public statements about transatlantic service.

However, the Associated Press, reporting on Ryanair’s quarterly report, advised the airline has discounted the report that this service will be launched soon. Deputy Chief Michael Cawley said that such a move was “not imminent” and would depend on acquiring long-haul aircraft at deeply discounted rates.

In financial news, the airline reported a 77 percent fall in first-half profits, citing oil prices and fare slashing to keep planes full, but forecast a rebound if oil prices stay low. The airline wrote off losses from its 29.4 percent stake in rival Aer Lingus, which is sharping cutting into its profits. O’Leary is publicly determined to keep building the stake until Ryanair eventually wears down resistance from the two other major Aer Lingus shareholders: the Irish government and Aer Lingus employees.