by Christopher Freeburn | May 16, 2014 10:06 am
According to a report in the Irish Times, discount Ireland-based carrier Ryanair (RYAAY) is dropping service to a large bomber of secondary airports as it realigns its strategy. RYAAY stock fell almost 3% in Friday morning trading.
Aviation industry website anna.aero conducted an analysis of airline routing data provided by Innovata and found that Ryanair is cutting 222 routes this summer. While RYAAY is eliminating routes to airports located some distance from popular destinations, Ryanair has also added 138 new routes to larger airports. RYAAY is moving its focus away from secondary airports toward serving primary airports in large European cities as part of an overhaul of its business model.
Ryanair is now adding routes to large airports in Rome, Brussels, Prague, Lisbon and Athens as it ends service to smaller airports, including a number in Sweden and Britain. RYAAY has said that it plans to boost its appeal to business travelers.
RYAAY stock closed at $51.54 on Thursday.
More Airline Stocks in the News:
Source URL: http://investorplace.com/2014/05/ryaay-ryanair-drops-222-flights-summer/
Short URL: http://invstplc.com/1lwsNE5
Copyright ©2015 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.