Ryanair refund farce gathering momentum

[bedouin]

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.

Yes, with 4 billion euros in reserves, they'll be able to Weather quite a long period of chaos.

[bedouin]

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?

It's completely true, you can look at their financial reports if you doubt it.  Or just read the media coverage, here's just one mentioning their 4 billion euros reserves.

https://www.dailymail.co.uk/news/article...-over.html

[Captain Sensible]

Refunds could take up to 6 months according to this report

Ryanair boss Michael O'Leary has said it will take up to six months to refund passengers for flights cancelled because of the Coronavirus pandemic.

He told the BBC the airline was struggling to process a backlog of 25 million refunds with reduced staff.

 - https://www.bbc.com/news/business-52498691

[beachlife]

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.

 I was using earlier years accounts. Now seen the 2019 accounts.

https://investor.ryanair.com/wp-content/...FY2019.pdf

Ok accounts in 2019 show
 
Total Current assets ...... 3.804 billion assets, but  about half of this is month tied up in liquid assets which will take longer than 3 months to access. Another +600 million are assets which can not be easily turned into cash quickly. So actual liquid cash is 1.675 billion

Total current liabilities......4.096 billion

Those are 2019 figures. 

RA will be leaking Money in 2020 so no income & lots of expenses so the assets in cash will be dwindling even more quickly.

They boast how big they are but big firms have big liabilities, its a double edged sword. Hence the reason why he is getting rid of staff but keeping our Money.
This is not a rant from someone who hates RA. I have flown with them I guess over 80 times with them at least. If a company is as cash rich as they claim then they should be able to meet  their legal requirements. 
Whether you want to accept a voucher or a refund is an individual choice depending on the risk you put on the chance you think the company will comply.

[bedouin]

 I was using earlier years accounts. Now seen the 2019 accounts.

https://investor.ryanair.com/wp-content/...FY2019.pdf

Ok accounts in 2019 show
 
Total Current assets ...... 3.804 billion assets, but  about half of this is month tied up in liquid assets which will take longer than 3 months to access. Another +600 million are assets which can not be easily turned into cash quickly. So actual liquid cash is 1.675 billion

Total current liabilities......4.096 billion

Those are 2019 figures. 

RA will be leaking money in 2020 so no income & lots of expenses so the assets in cash will be dwindling even more quickly.

They boast how big they are but big firms have big liabilities, its a double edged sword. Hence the reason why he is getting rid of staff but keeping our money.
This is not a rant from someone who hates RA. I have flown with them I guess over 80 times with them at least. If a company is as cash rich as they claim then they should be able to meet  their legal requirements. 
Whether you want to accept a voucher or a refund is an individual choice depending on the risk you put on the chance you think the company will comply.

I don't think you've fully understood the accounts.  Ryanair has cash reserves in excess of 4 billion euros.  Maybe this link will help...

https://www.macrotrends.net/stocks/chart...sh-on-hand

[Jason W]

Think the figure quoted in the link is $ - regardless, little point arguing as these are old numbers.

[beachlife]

 I was using earlier years accounts. Now seen the 2019 accounts.

https://investor.ryanair.com/wp-content/...FY2019.pdf

Ok accounts in 2019 show
 
Total Current assets ...... 3.804 billion assets, but  about half of this is month tied up in liquid assets which will take longer than 3 months to access. Another +600 million are assets which can not be easily turned into cash quickly. So actual liquid cash is 1.675 billion

Total current liabilities......4.096 billion

Those are 2019 figures. 

RA will be leaking money in 2020 so no income & lots of expenses so the assets in cash will be dwindling even more quickly.

They boast how big they are but big firms have big liabilities, its a double edged sword. Hence the reason why he is getting rid of staff but keeping our money.
This is not a rant from someone who hates RA. I have flown with them I guess over 80 times with them at least. If a company is as cash rich as they claim then they should be able to meet  their legal requirements. 
Whether you want to accept a voucher or a refund is an individual choice depending on the risk you put on the chance you think the company will comply.

I don't think you've fully understood the accounts.  Ryanair has cash reserves in excess of 4 billion euros.  Maybe this link will help...

https://www.macrotrends.net/stocks/chart...sh-on-hand

I have broken down the figures please explain where I went wrong. 

On the site you posted it states Ryanair Holdings total liabilities for the quarter ending December 31, 2019 were $9.527B, a 19.59% increase year-over-year.

If someone has 100 euros in their pocket they could say they are cash rich but if their rent is 400 euros next day are they still financially in a good position?

I don`t think you understand that most companies have cash reserves but they also have to look at liabilities. If a company goes bust then the liabilities have to be paid in a certain order. The tax authorities always will have first call then it`s laid down who is paid next. If you have a voucher there is a very strong likely hood you will be whistling in the wind. I`d rather have my cash back & decide later who I decide to fly with in the future. If I accept RA is financially strong I have to question why are they taking so long to pay back refunds it makes no sense.

[bedouin]

I have broken down the figures please explain where I went wrong. 

On the site you posted it states Ryanair Holdings total liabilities for the quarter ending December 31, 2019 were $9.527B, a 19.59% increase year-over-year.

If someone has 100 euros in their pocket they could say they are cash rich but if their rent is 400 euros next day are they still financially in a good position?

I don`t think you understand that most companies have cash reserves but they also have to look at liabilities. If a company goes bust then the liabilities have to be paid in a certain order. The tax authorities always will have first call then it`s laid down who is paid next. If you have a voucher there is a very strong likely hood you will be whistling in the wind. I`d rather have my cash back & decide later who I decide to fly with in the future. If I accept RA is financially strong I have to question why are they taking so long to pay back refunds it makes no sense.

It seems obvious that you will only believe what you want to believe, despite evidence to the contrary.  Ryanair are taking time to process refunds for a number of reasons, but you will get your Money back.  That's sadly not the case for some other airlines.

[beachlife]

It seems obvious that you will only believe what you want to believe, despite evidence to the contrary.  Ryanair are taking time to process refunds for a number of reasons, but you will get your money back.  That's sadly not the case for some other airlines.

I agree you only believe what you believe. Not seen any evidence despite asking, so we are going round in circles. So time to put things to bed & agree to differ.

Good news is that EasyJet are now paying people back I got an email on Friday from Jet2 informing me that I will get my refund for a flight within 28 days. So glad to see that other companies can manage it without waiting for 6 months.

[el caballo hambriento]

I had an inbound flight with  Ryanair early April; got no refund despite applying for one, offered vouchers which I did not apply for.  I queeried the original purchase with the credit card company who refunded the Money.  It is worth being persistent.  This webpage gives details of making such a claim.

https://www.chroniclelive.co.uk/news/wor...s-18170589