Ryanair Holdings PLC
31 August 2005
RYANAIR CUTS 12 FLIGHTS PER WEEK AT NEWQUAY AFTER
CORNWALL COUNTY COUNCIL'S £5 'ANTI VISITOR' TAX
Ryanair Europe's No. 1 low fares airline today (Wednesday, 31st August 2005)
announced the withdrawal of 12 flights per week or 100,000 passengers per annum
at Newquay airport following the decision by Cornwall County Council to impose a
£5 surcharge on passengers and visitors to the region.
Speaking this morning, Michael Cawley, Deputy CEO of Ryanair, said:
'Ryanair has always made it very clear to Cornwall County Council that
their airport and region is part of a competitive price sensitive market
that must compete with 84 other low fare destinations from London
Stansted. Under the right conditions this market is capable of
delivering huge economic benefits to the region and in excess of 200,000
passengers per annum.
'Cornwall County Council's ridiculous decision to introduce a £5 tax per
departing passenger would result in increased revenue of £250,000 for
the Council and a reduced income for the region of £10.5M leaving
Cornwall worse off to the effect of £10M per annum in terms of
expenditure by visitors brought by Ryanair from London.
'With this type of misguided economics is it any wonder that regional
tourism in the UK is suffering. The benefits which incoming flights can
deliver to regions such as Cornwall are incalculable and far exceed the
derisory income, which will be derived by the Council as a result of
this tax.
'In the light of the inevitable reduction in demand, which will ensue
from this increase in the cost of travel, Ryanair has decided to reduce
its schedule to a daily flight and will obviously keep this under review
with the possibility of further reductions in the future if demand
deteriorates further'.
Ends. Wednesday, 31st August 2005
For further information:
Peter Sherrard - Ryanair Pauline McAlester - Murray Consultants
Tel: 00 353 1 812 1228 Tel: 00 353 1 4980 300
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.