5-Feb-2019 2:54 PM

Ryanair outlines 12 month group restructuring plan, group to become 'not dissimilar' to IAG

Ryanair outlined (04-Feb-2019) the following group restructuring plans for 2019:

  • Over the next 12 months, Ryanair Holdings will move to a group structure not dissimilar to that of IAG;
  • A small senior management team will oversee the development of four airline subsidiaries: Ryanair DAC, Laudamotion, Ryanair Sun and Ryanair UK, each with their own CEOs and management teams;
  • Ryanair Holdings will focus upon efficient capital allocation, cost reductions, aircraft acquisitions and small scale M&A opportunities;
  • To lead the group structure, Ryanair DAC CEO Michael O'Leary will become group CEO;
  • A replacement CEO of Ryanair DAC, who will work alongside the CEOs of Laudamotion and Ryanair Sun, will be appointed later in 2019;
  • The group CEO will be assisted in Ryanair Holdings by small group legal and group finance teams;
  • As the group expands Laudamotion's Airbus fleet and takes delivery of more than 200 Boeing 737 MAX aircraft, improved cost and operating efficiencies will enable the group to look at other small scale M&A opportunities such as the development of Laudamotion. [more - original PR]

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