Stelios questions Ryanair growth strategy
12.11.09
easyJet founder Sir Stelios Haji-Ioannou said rival Ryanair is courting disaster if it sticks with his growth strategy, Bloomberg reports. Ryanair needs to increase passenger numbers by 50% over the next 2½ years to fill its 200 aircraft and another 100 on order, Sir Stelios said. Ryanair said on October 13 that it aims to lift the total almost 30% to 85 million in 3 years.
Sir Stelios said in an interview yesterday: ‘I am looking forward to seeing how this do-or-die mission of Ryanair and [CEO] Michael O’Leary will end up. I believe that he will have a lot of grounded aircraft in the next few years.’ easyJet’s own growth plan is ‘a lot more sensible’ and ‘much more profitable,' he said.
However, Ryanair spokesman Stephen McNamara said: ‘It must be difficult for Stelios to see us continue to grow while his airline grows more slowly, if at all. Ultimately, Ryanair believes that easyJet will be bought by a larger airline group in the next 5 years. easyJet will be gone so Stelios won’t have to worry about Ryanair.’
An easyJet spokesman said the airline has developed a more realistic business plan than Ryanair. He said: ‘We feel ours is better. We fly to major airports, which is where our passengers want to go.’
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