FIRST AIRED: May 30, 2017

Nice work! Enjoy the show!

×

You’re busy. We get it.

Stay on top of the news with our Editor’s Picks newsletter.

US Edition
Intl. Edition
Unsubscribe at any time. One click, it’s gone.

Thanks for signing up!

×

Transcript

00:00:01
>> Ryanair posting record annual profits on Tuesday and promising to do even better next year by cutting fares again. Europe's largest carrier, by passenger numbers, earning a net profit of 1.3 billion Euros. But there are head winds, Chief Marketing Officer Kenny Jacobs says uncertainty over Brexit is the biggest issue facing all airlines.
00:00:22
>> It looks like we're heading to a hard Brexit, we think this is gonna be an ugly divorce. The UK's leaving Europe, they are leaving open skies. And a new alternative to open skies needs to be found that will allow UK consumers and European consumers to fly between the UK and Europe.
00:00:39
At the moment, we don't see anything being put forward.>> Overcapacity in the market has seen sharp falls in average fares, and security events like the Manchester attack also cause a blip in demand. But Ryanair isn't battling the headache British Airways is fighting. The airline working to repair it's brand after a major IT outage grounded flights from London's two main airports over the holiday weekend.
00:01:03
Stranding over 75,000 passengers at Heathrow and Gatwick, shares and BAs owner IAG falling 4% in the early hours of Tuesday. And leaving rivals to label the chaos as very damaging.>> With basically no operation for the past three days and it will take them a long while to recover, I think.
00:01:22
From our point of view, we've got three IT locations across Europe, we use one of these at any one time. If there ever is an issue, one of the other two will kick in.>> BA Chief Executive, Alex Cruz, denies the outage was linked to the outsourcing of some staff from Britain, and has vowed to run a full investigation.
00:01:40
Little consolation for the thousands who spent their weekend stranded, but a full flight schedule was expected to be running on Tuesday.