Ryanair refund farce gathering momentum

[Cotillo_Tom]

Thanks Beachlife (hope you are safe and well). I tried that again and again, but I get the same response. 

Frustrating is the polite word.  I'd like to use many other words, but I'd get banned from the site! 😱😤😬

[beachlife]

Sorry to hear you had no success. 

As long as you didn`t accept the voucher & didn`t click on it I think you automatically get put on the refund list. I didn't click on it & like you was concerned when all the details of the booked flight disappeared. Fortunately I had printed off the boarding passes & had all the details for my own records. I went to the refund website to request a refund when I put in the details it said it couldn't accept my request as a request had already been made with those details. So hoping that I`m somewhere in the refund pile for when the decide whether to dish our cash back to us. So hoping you are somewhere in the pile as well.

Perfectly Safe Tom, but well is debatable, just hoping that the Spanish government meeting on Tuesday permits us to get out for a walk.

[bedouin]

Ryanair won't go bust, they are sitting on a mountain of cash.  However, despite the law saying you should get a refund in 14 days, they are probably being commercially sensible in trying to hang on to the money for as long as possible.  If you think you'll use them again, grab the voucher.

I wouldn't be so sure.  I think some airlines will go bust and as a result prices will go up

Some will go bust, but Ryanair won't.  They have around 4 billion euros in cash reserves.

[Johnrgby]

Some will go bust, but Ryanair won't.  They have around 4 billion euros in cash reserves.

Can I ask where you got that info? that is a massive amount of Money for any company to have as a cash reserve. are you sure it is not just more BS from O leary?

[beachlife]

Some will go bust, but Ryanair won't.  They have around 4 billion euros in cash reserves.

Can I ask where you got that info? that is a massive amount of money for any company to have as a cash reserve. are you sure it is not just more BS from O leary?

https://investor.ryanair.com/wp-content/...report.pdf

These are not the latest results but gives an idea.

The sum 4 billion is the revenue not the cash reserves.

[Johnrgby]

Some will go bust, but Ryanair won't.  They have around 4 billion euros in cash reserves.

Can I ask where you got that info? that is a massive amount of money for any company to have as a cash reserve. are you sure it is not just more BS from O leary?

https://investor.ryanair.com/wp-content/...report.pdf

These are not the latest results but gives an idea.

The sum 4 billion is the revenue not the cash reserves.

A somewhat different figure, but nonetheless reasonably impressive figures.

[Jason W]

Some will go bust, but Ryanair won't.  They have around 4 billion euros in cash reserves.

Can I ask where you got that info? that is a massive amount of money for any company to have as a cash reserve. are you sure it is not just more BS from O leary?

Looks like 1.6b euro at 31/3/19 - but this is reserved for future flights i.e they are owe near on 2b in Money you and i have paid, what they call unearned revenues, nice business model.

[Jason W]

Some will go bust, but Ryanair won't.  They have around 4 billion euros in cash reserves.

Can I ask where you got that info? that is a massive amount of money for any company to have as a cash reserve. are you sure it is not just more BS from O leary?

Looks like 1.6b euro at 31/3/19 - but this is reserved for future flights i.e they are owe near on 2b in money you and i have paid, what they call unearned revenues, nice business model.

Looks like they might also have some Money tied up in longer term deposits so bedouin, you are probably correct  they are not going bust just yet.

[beachlife]

Ryanair need a large cash reserve not to pay you & me in an emergency but because of their business model.

Ryanair mainly buys their aircraft. Part of their ability to offer cheap flights comes from buying aircraft in bulk and generally only operating a single type of airframe.Currently they have 183 Boeing 737 -800 on order and have an option for another 100 Boeing. The planes they have after a certain time get sold onto usually 3rd world countries. This means the costs of maintenance are low for RA. So with high passenger loads it has worked well for them.

A lot of this cash reserve is required by their business model to pay for these new planes & Boeing will I assume have a contract which will have penalty clauses if they do not purchase. They require large amounts of cash from customers to keep everything going & it has worked well up to now. However they will be eating into these reserves as they have such large numbers of planes on the ground parking is not free. They will have costs involved on the ground for maintenance. Pilot training will cost them, eventually all pilots will have hours to put in as they will not have flown for a while. Plus lots of other costs.

When "normality" returns I`m not sure if they will be able to continue as they were, without some sort of restructuring of the model they have had. No company is too big that it might not fail. RA might be able to adapt to the new circumstances they will find themselves in, who knows. For me but I just want my Money back that I have lent him interest free as is legally required by him within a certain timescale.

[bedouin]

The sum 4 billion is the revenue not the cash reserves.

No, it's their cash reserves - their revenue last year was over 7 billion euros.