Ryanair freezes executive salaries in response to high oil prices

by Anna Brones on

The popular European budget airline is preparing for tough times. High oil prices and a weak UK economy are threatening Ryanair’s overall income; Chief Executive Officer Michael O’Leary says that in the next year, net-profit could in fact fall by 50%.

But O’Leary doesn’t want to see high oil prices translated into increases of airline fares. “I think our fares will be flat and that will be a good result I think,” O’Leary said. To keep those fares flat, he plans on freezing the salaries of 36 senior managers of Ryanair for a period of a year. This, along with an increase in baggage and credit card fees, is expected to save the airline 400 million euros over the next 12 months.

All of this is mostly because up until now, Ryanair has enjoyed hedging contracts of oil at around $68 a barrel. Those contracts run out April 1, 2008 meaning that Ryanair’s fuel costs will only go up; every $1 increase in oil above $65 accounts for 14 million euros in annual costs.

Yet even in a dreary looking economy, Ryanair is still managing to add a few more flights. In May 2008, passengers will be able to enjoy the first domestic routes in France (Paris to Marseille) and Germany (Frankfurt to Berlin).

Photo of the Day (3-26-08)

by Mike Barish on

The lines, shapes and layers of this shot remind me a bit of a tiny wooden train set my brother received once as a child. It came in a fine mesh gold bag that tied at the top. Along with the train came buildings and simple wooden trees with a shape similar to these. These trees, the real ones, are so perfect and sculpted-looking. There’s promise in the fields…a sense of waiting for the lushness that will set in once spring’s magic happens.

This shot of the vineyards of Châteauneuf-du-Pape by Luke Robinson was posted at Gadling’s Flickr photo pool. How is the beginning of spring looking where you are? We’d love to see your shots for a chance at Photo of the Day. Post them in our Gadling group.

Message in a bottle takes a 21-year journey: Mine took less than that

by Jamie Rhein on

Twenty-one years ago, a 4th grader named Emily Hwaung put a message in a plastic bottle and sent it sailing on the ocean near Seattle via a guy with a boat. The bottle was released along with several others as part of a class project. Emily’s bottle was recently picked up in Alaska by Merle Brandell while he was walking his dog in his fishing village town, Nelson Lagoon. Due to his diligent pursuits, Brandell was able to locate Emily, who is now Emily Shih, and well past 4th grade. At age 30, Emily doesn’t remember the bottle project all that much but is tickled her message has come full circle and is not still part of the ocean’s pollution.

The article chronicling this latest bottle-sent /bottle-found story mentions how rare it is for bottles dropped into the ocean to ever be found. This makes me feel even more gleeful about my own experience. The summer after I graduated from undergraduate school I was taking a night ferry from France to Ireland as part of a two-months plus backpacking trip.

After sharing a bottle of wine with fellow travelers, we decided to write a message, seal it in a bottle and send it on a journey. I can’t remember what we wrote–or if we felt guilty throwing a bottle overboard, but I do know that some time later I received a letter from France. A couple had been walking along the beach and found it. I can’t remember which beach or how long it took for the bottle to be found. I’m not even sure where the note is. I did keep it, but with moves and travels, the note is buried in a box somewhere. You’ll just have to trust me that it’s there. I wonder if Emily knows where her 4th grade teacher is. I’m sure the teacher would be thrilled to know that this project did end up with a successful ending despite the other bottles still out there. [via AP]

Another 100 car pileup?

by Iva Skoch on

What is going on the roads of Central Europe this week, exactly? On Friday, I blogged about the Czech 100+ car pileup on the country’s major highway.

Today, AP reports that 50 to 100 vehicles slammed into each other earlier today in snowfall on an autobahn in western Austria. The accident happened on the westbound A1 autobahn between the towns of Seewalchen and St. Georgen.

Some victims are apparently still trapped in their vehicles because rescue efforts were hampered by snowfall. One person is reported dead, according to Reuters.

When going spring-skiing, watch out for spring-snowstorms. (Optimism aside, it is best to keep those winter tires on through April.)

400 people stuck on the London Eye

by Abha Malpani on

400 London Eye passengers were trapped for about an hour on the 135-meter high Eye yesterday. Apparently there was a technical fault with one of the tires that they thought best to fix before letting people off.

The process seems to have been dealt with quite well. All passengers were communicated with through intercom and were given access to the emergency blankets, water and commodes while they waited for things to be fixed.

The stories published in the media didn’t speak to any of the people who were stuck on there, however, an hour is a long time to be stuck on a giant wheel and surely the passengers (especially the ones at the top of the wheel) were scared if not petrified.

You may not be afraid of rides, but incidents like this can shake you up and are unforgettable. Anyway, there were no reported injuries, the wheel was fixed, and the passengers were given a hot drink and a refund when they stepped out. Good old British hospitality!