Ryanair Holdings Plc (RYA) Chief Executive Officer Michael O’Leary said June traffic grew “very strongly” as Europe’s biggest discount carrier ramps up efforts to deliver a more customer-friendly service.
Ryanair climbed almost 25 cents, or 3.6 percent, to 7.09 euros, the biggest gain since May 19, after O’Leary’s comments on Bloomberg Television today. The company will report its traffic figures for last month tomorrow, it said separately.
The discount carrier is refining its no-frills approach with measures including allocated seating and an improved website as it seeks to draw corporate passengers, groups and older flyers. O’Leary said the push is helping win business travelers, with Ryanair also targeting more primary airports, following in the footsteps of rival EasyJet Plc. (EZJ)
“The business continues to evolve,” O’Leary said. EasyJet has done a “very good job of going after some of British Airways’ and Lufthansa’s business passengers. What Ryanair is doing is copying that trend.”
O’Leary is trying to make its product more appealing after the company repeatedly missed profit goals and established carriers including Deutsche Lufthansa AG branch out into the low-cost segment. The CEO has stood at the helm of the Dublin-based airline for two decades. His deputy, Howard Millar, announced this week that he will leave in December because there is little prospect for him to gain the top job.
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