Ryanair board approves plan to crack open the US market

Ryanair board approves plan to crack open the US market

Fortune

It’s wanted to for years, but Irish-based low-cost airline Ryanair Plc [fortune-stock symbol=”RYAOF”] has now finally taken the plunge and approved plans to start up low-cost service on transatlantic routes.

The move is sure to send shivers through the boardrooms of Europe’s flag carriers, who have seen their cozy short-haul businesses decimated by the likes of Ryanair and Easyjet Plc [fortune-stock symbol=”EZY”] in recent years, and which rely to a huge extent on the profits from their long-haul transatlantic routes.

However, it’s not something that’s going to happen much before 2020. With the airline industry enjoying rapid growth worldwide thanks to burgeoning demand from a rising Asian middle-class, the order books of Boeing Corp. [fortune-stock symbol=”BA”] and Airbus NV [fortune-stock symbol=”EADSY”] are fuller than ever. Ryanair, said it may have to wait four to five years for planes.

In response to e-mailed questions, Ryanair said it wanted to run services…

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