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Like easyJet, Ryanair ruled out an interest in buying Flybe, a smaller operator which is looking for a new owner after warning that profits would be lower than expected due to recent rises in the fuel price. “We’re not interested in Flybe,” Jacobs said. “It’ll probably be split up and you’ll probably get a few different airlines buying the various assets.”. Ryanair’s plan was predominantly for organic growth, he said. Referring to a wave of strikes this year which has meant thousands of canceled Ryanair flights and which it has said will dent profits, Jacobs said the airline was on track to reach agreements with its biggest unions.
SANTIAGO (Reuters) - LATAM Airlines (LTM.SN), the biggest airline group cufflinks nordstrom in Latin America, reported a steep fall in third-quarter profit due to lower passenger demand in Argentina and Brazil as well as higher fuel prices and competition from low-cost airlines, LATAM reported a net profit of $53 million for the quarter, down from $160 million a year earlier, according to a securities filing, But it said it was maintaining its guidance for the year, expecting an overall operating margin for 2018 of between 6.5 and 8 percent, It is focused on cost-cutting to offset higher expenses..
“We are transporting more passengers with a leaner organization,” a company executive told analysts on a conference call. Morgan Stanley raised its target price for LATAM shares traded in the New York stock exchange to $9 following the earnings release, from a previous target price of $8.80. Shares were up 3.4 percent at $9.26 on Wednesday morning. Demand in the quarter slowed in Brazil due to a weaker local currency, and demand fell significantly in Argentina, where the local currency faced an abrupt devaluation during the quarter, reducing passengers’ purchasing power.
“We carried more passengers in all our markets except Argentina, where we cut capacity this year,” an executive said, Lower demand and increased fuel expenses due to higher oil prices has slashed profits across regional airlines, One of LATAM’s biggest competitors, Brazil’s Gol Linhas Aereas Inteligentes SA (GOLL4.SA), reported a loss of $110 million during the quarter, Market conditions prompted LATAM to renegotiate commitments for future cufflinks nordstrom aircraft purchases, achieving a reduction of $2.3 billion in fleet expenses through 2021, the company said..
The airline will also boost the number of available seats in some of its aircraft by 3 percent as improving utilization and seat count may allow it to grow with fewer aircraft. Revenue declined by 5 percent to $2.5 billion in the quarter compared with the same period in 2017. In the quarter, LATAM spent the equivalent of 30 percent of its revenue on fuel, compared with 21 percent a year earlier. In comparison, Gol spent 37 percent of its revenue on fuel in the same quarter, up from 26 percent a year earlier.
MILAN (Reuters) - Chocolate spread Nutella has long had pride of place on supermarket shelves but faces imminent attack from an Italian rival usually found in the pasta section, Italy’s Barilla, known internationally for its spaghetti and maccheroni packaged in blue boxes, is preparing to launch a chocolate spread next year in a major challenge to the brand that became a global phenomenon in the 1980s, sources said, Nutella, invented by family-owned firm Ferrero, is a favorite among sweet-toothed youngsters at home and abroad and generates annual sales cufflinks nordstrom of more than 2 billion euros ($2.3 billion)..
With 54 percent of the global market for chocolate spreads, Nutella is the leader and faces virtually no major competition as a mass-marketed brand. Cokokrem of Turkey’s Yildiz Holding is the second most popular spread with a share of only 2 percent, according to market research provider Euromonitor International. But two sources familiar with Barilla’s plan say its new spread, Crema Pan di Stelle, seeks to exploit a perceived weakness of Nutella: its use of palm oil. The ingredient has drawn a consumer backlash due to health and environmental concerns. Ferrero launched an ad campaign in 2016 to defend its use of palm oil, saying it was safe when refined at controlled temperatures and that the company only bought oil from sustainable palm plantations.
Barilla decided to mount a challenge to Nutella after sensing that Ferrero was starting to encroach on the pasta-maker’s lesser-known biscuit business, one of the sources said, Industry sources said Ferrero will launch a Nutella-filled biscuit next year, seen as a direct challenge to Barilla’s own chocolate cookie brand, Baiocchi, Ferrero declined to comment on the new biscuit, cufflinks nordstrom To take on Nutella, Barilla has prepared a recipe that contains sunflower oil, 10 percent less sugar, Italian-only hazelnuts and cocoa from sustainable farms, one source said..