Friday, March 21 09:09:25
The ISEQ is much improved this morning at 4937, up 43 points as markets show signs of recovery following the imposition of limited sanctions against Russia.
Davy Stockbrokers looks at the "new look Ryanair":
Ryanair's new Chief Marketing Officer (CMO), Kenny Jacobs (seventh week in job), along with Dara Brady, Head of Web Development, presented Ryanair's customer service and digital initiatives.
The CMO sees Ryanair as a "challenger" market-leading brand (similar to ALDI, H and M etc.) that focuses on the "always getting better programme" - fix the things customers don't like, improve the travel experience, enhance the digital experience, develop the Ryanair offer and improve brand and marketing. The digital building blocks are based on customer data and improving the customer experience - c.1m people have signed up to the "My Ryanair" customer registration.
A new improved website will be launched in two weeks, and mobile boarding passes and the Ryanair app will be available by May/June. The new website should be faster and more intuitive, and Ryanair expects "fare finder" to be a key product in improving access to low-fare offers. Development of family and corporate products will take place in April/May. A marketing campaign using all media channels will accompany some of the new product initiatives. Network and traffic development - forward bookings (May-July) up 5per cent
The uptake of allocated seating should allow strong ancillary revenues into the summer, and the strategy of lowering fares and increasing forward bookings should enable the airline to better manage close-in bookings. Forward bookings (May-July) are c.5per cent ahead of the prior year (this is before many of the new initiatives have been put in place).
Growth at existing bases, facilitated by the travel tax removal in Ireland and the London Stansted growth deal, has allowed for growth and increased frequencies to primary and secondary airports. Stansted in particular is targeted for c.2m passengers per annum with destinations coming from a mix of primary and secondary airports. New bases in Italy, Brussels Zaventum, Lisbon and Greece are booking well according to Davy Stockbrokers.