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2009 Airline of the Year: Ryanair
18 May 2010
Ryanair financed about 60 aircraft in 2009, while continuing to turn a profit. JoAnn DeLuna speaks to the finance team.
Read more:
2009 Deals of the Year
2009 Airline of the Year
Ryanair
Howard Millar
Neil Sorahan
Tom Hollahan
Under normal economic conditions, airline profits are celebrated. But airline profits were particularly sparse in 2009. So, the 2009 Airline of the Year goes to Ryanair for doing what it does best: running a profitable business.
Howard Millar, Ryanair’s chief financial officer, and Neil Sorahan, Ryanair’s head of treasury, say that 2009 – and even 2010 – will be remembered as difficult years. Both admit that 2009 was made more difficult by the airline’s decision to expand. Nonetheless, Ryanair continues to trade profitably.
“Some people might say that this is what we’ve been practicing for,†says Millar. “We were faced with consumers who had a lot less money to spend and certainly it was a challenge to continue to keep...
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