Edition:
India

Ryanair's O'Leary says 60 million annual passenger target could fall


Monday, 27 Jul 2020 

July 27 (Reuters) - Ryanair Group Chief Executive Michael O'Leary and Chief Financial Officer Neil Sorahan, speaking in a video presentation on release of Q1 results: :RYANAIR CEO SAYS 10 MILLION CHARGE FOR FUEL MARK TO MARKET IN Q1; FURTHER EXCEPTIONAL CHARGE IN 2021 'CANNOT BE RULED OUT'.RYANAIR CEO O'LEARY SAYS DOES NOT EXPECT ANY DIMINUTION OF CASH BALANCES IN JUNE, JULY, AUGUST.RYANAIR CEO O'LEARY SAYS SEES 70% LOAD FACTOR IN JULY AND SOMETHING SIMILAR IN AUGUST.RYANAIR'S O'LEARY SAYS TARGET OF 60 MILLION PASSENGERS FOR YEAR IS TENTATIVE, COULD GO LOWER.RYANAIR'S CFO SAYS INEVITABLE WE WILL HAVE TO STIMULATE FARES OVER WINTER; SEES NO SIGN OF BUSINESS TRAVEL RECOVERY BEFORE AUTUMN.RYANAIR'S O'LEARY SAYS EXPECTS LOWER FUEL COSTS FOR NEXT 2-3 YEARS.RYANAIR'S O'LEARY SAYS TO CLOSE BASES AT FRANFURT HAHN, BERLIN TEGEL AND DUESSELDORF AT END OF SUMMER.RYANAIR'S O'LEARY SAYS INEVITABLE THERE WILL BE CLOSURES OF SOME ITALIAN REGIONAL BASES.RYANAIR'S O'LEARY SAYS REASONABLY CONFIDENT WILL BE SUCCESSFUL IN CHALLENGING STATE AID AT EU LEVEL; BUT WILL TAKE YEARS.RYANAIR'S O'LEARY: SEES 'REASONABLE PROSPECT' BOEING MAX APPROVED FOR RETURNED TO SERVICE BY SEPTEMBER.RYANAIR'S O'LEARY: GOING TO HOLD OFF ANY FURTHER AIRPLANE SALES BEYOND THE 7 (AGREED IN 2020); WANTS TO KEEP PLANES IT HAS.RYANAIR'S O'LEARY: WON'T BE ADDING ANY AIRBUS AIRCRAFT FOR FORESEEABLE FUTURE 'UNLESS THERE IS SOME SIGNIFICANT PRICING OPPORTUNITY ON THE AIRBUS SIDE'.