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February 14, 2012
Ryanair woes threaten Swedish airports
Published: 29 Jul 08 16:33 CET | Double click on a word to get a translation
Online: http://www.thelocal.se/13352/20080729/
Irish airline Ryanair's 85 percent year-on-year drop in profits reported on Monday could affect Swedish airports, according to Dagens Industri. Stockholm Skavsta Airport relies on Ryanair for 90% of its traffic.
- Swedes aghast over Ryanair bikini calendar (7 Dec 11)
- Ryanair seeks Sweden expansion (4 Oct 11)
- Family slams Ryanair after heart attack scare (4 Aug 11)
Ryanair's report is a sobering read for many regional Swedish airports which have surfed the wave of Ryanair's recent success and expansion.
Skavsta airport, south of Stockholm, relies on Ryanair for 90 percent of its traffic and has seen massive development in recent years with a new hotel and terminal buildings.
"If you put all your eggs in one basket then the exposure to risk is high," said Anders G Högmark of the association of Swedish regional airports (Svenska Regionala Flygplatsförbundet) to Dagens Industri.
Ryanair is a company used to bumper profits and Anders G Högmark expects the company leadership to enforce a savings program in order to turn the figures around.
Högmark told Dagens Industri that there is little scope for rationalizing costs or introducing any further charges and so he expects Ryanair to make cuts in less profitable routes. Many of these cuts could affect routes from Sweden, Högmark argues.
Stockholm Skavsta MD, Dot Gade, is not overly concerned about Ryanair's plans, although she is acutely aware of the airport's reliance on the airline.
"When you have such an important client of course we notice if things are not going so well for them, " Gade said to Dagens Industri, adding, "if there is one airline that will survive and prosper, it is Ryanair."
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