Thursday, September 18, 2008

Ryanair AGM disrupted by environmental protestor

Ryanair today held their AGM in Dublin and took the opportunity to update the market on their latest trading prediction to year end. From a previous position of break even to minus €60m the airline now predicts a break even balance sheet by year end March 31 if Q4 oil prices stay at $100 per barrel. The meeting was briefly disrupted by a semi naked man who took the opportunity of the AGM to protest against Ryanair's environmental performance. The man claimed that Ryanair carried around 12m passengers around Europe and suggested that taxing air travel would help the environment. Not one to miss an opportunity, Ryanair Chief Executive Michael O'Leary was quick to react : “I hope next year instead of a semi-naked bloke, they’ll send a semi-naked girl to the AGM. She would probably make as little sense as this guy this morning, but at least she’d be more attractive. “Clearly maths wasn’t this guy’s strongest suit, given that Ryanair carries 60 million passengers, not the 12 million he claimed. Perhaps they should call themselves the “plain stupid” instead of the “plane mad” group. Some of these eco-nuts (who advocate even more tax on air travel) are not the sharpest knives in the drawer. “We are sending him one of our 5 million €5 tickets which he can avail of to travel from his home in Clare on one of Ryanair’s routes from Shannon. Since clearly, after one of the wettest Irish Summers on record, he needs a little break. It might help his mood, as well as his maths in time for next year’s AGM."

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