Ryanair Holdings Plc Chief Executive Officer Michael O’Leary predicted that the incumbent carriers in Scandinavia and Poland won’t survive in their current form amid competition from domestic and foreign low-cost rivals.
Air France-KLM Group, Europe’s largest airline, declined as much as 7.5 percent in Paris trading after saying it will deepen capacity cuts and is discussing a hiring freeze with unions to defend earnings goals.
Cambridge University’s crew is favored to beat Oxford University tomorrow in one of the U.K.’s oldest sports contests, an event that generates more wagers than Olympic rowing, according to William Hill Plc.
The head of Italy’s postal service, which is helping bankroll an Alitalia SpA rescue, plans to meet his counterpart at Air France-KLM Group to sway the Italian carrier’s biggest investor to buy into a capital increase.
Norwegian Air Shuttle ASA, western Europe’s fourth-largest discount airline, fell in Oslo after HSBC Holdings Plc cut its rating on the stock and said increased fuel and currency costs will curb the carrier’s earnings.
U.K. stocks fell for a third day as declines in Tullow Oil Plc and EasyJet Plc outweighed comments by China’s Premier Li Keqiang that the world’s second-largest economy will grow by at least 7 percent.
Ryanair Holdings Plc, Europe’s largest discount carrier, will triple its marketing budget this year in a push to refine the no-frills image the company acknowledges has alienated customers looking for more service.
Deutsche Lufthansa AG , Europe’s second-biggest airline, more than doubled quarterly profit, topping analysts’ estimates , as rising travel demand boosted a recovery in ticket prices and as freight transport surged.