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Ryanair has been named Europe's best-performing airline of the decade.
No, it's not April 1.
Ryanair, the judges said, was pioneering in terms of taking advantage of Europe's relatively liberal aviation market – far beyond its Dublin home.
Challenges emerged, they said, and were overcome during the period, such as a move to recognise unions, which heralded high-profile negotiations but failed to significantly dent its cost advantage.
The strength it took from its strategy and performance in aviation's boom decade, said the judges, meant it entered the current crisis with a hefty pile of cash to see it through.
'The past decade saw Ryanair firmly establish itself as perhaps the world's best contemporary example of the low-cost business model being implemented to its full potential,' said Lewis Harper, Managing Editor of Airline Business magazine.
'In doing so, its influence was felt across the short-haul travel market, as it dragged legacy operators into defensive manoeuvres and challenged budget rivals with its ultra-low-cost base. Put simply, Ryanair became a carrier that even the most ardent full-service devotees would struggle not to have a grudging respect for.'
As one judge concluded: “It’s a beast of a machine and it works incredibly well.”
Nominerade:
IAG received positive comments from the judges for building one of the world’s largest and most effective airline groups – and one that stood out among its European peers. Its acquisition strategy saw it target carriers with complementary networks and hubs, and across different business models. Notably, IAG allowed each operator to maintain a distinct focus, while it leveraged revenue and cost synergies at a group level.
Low-cost carrier Wizz Air was the other nominee, with judges impressed by the low-cost pedigree of what was one of the fastest-growing airlines in Europe over the decade. Crucially, the operator’s footprint spread from central and eastern Europe into new bases to the region’s west.
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Last edited: 4 December 2020
Roseleaf och Palazzi gillar detta.