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MarketScreener Homepage  >  Equities  >  Irish Stock Exchange  >  Ryanair Holdings plc    RYA   IE00BYTBXV33

RYANAIR HOLDINGS PLC (RYA)
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Ryanair : Flight rights group takes Ryanair to court over strike compensation

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08/15/2018 | 12:00pm CEST
FILE PHOTO:  Aircrafts of low-cost airliner Ryanair are parked at the tarmac of Weeze airport near the German-Dutch border during a wider European strike of Ryanair airline crews

BERLIN (Reuters) - German passenger rights company Flightright is taking Ryanair to court over whether it should pay financial compensation to passengers affected by strikes at Europe's largest low-cost carrier.

Ryanair had to cancel around 1 in 6 flights on Friday due to a walk-out by pilots in five European countries, disrupting an estimated 55,000 travellers.

The worst affected country was Germany, where 250 flights were cancelled, affecting around 42,000 passengers.

EU rules state that passengers can claim monetary compensation of up to 400 euros for flights within the region for cancelled or delayed flights, unless the reason is extraordinary circumstances, such as bad weather.

Strikes have generally fallen under extraordinary circumstances although a ruling by the European Court of Justice in April said that a wildcat strike by staff at German airline TUIfly following a restructuring could not be classed as extraordinary circumstances.

Flightright said it believes Ryanair is therefore obliged to pay monetary compensation to customers and so has filed a complaint with a court in Frankfurt in a bid to clarify the rules around strikes.

A spokeswoman for the court said she was aware of the Flightright statement, but that she had not yet seen the complaint.

Ryanair said it fully complies with the European legislation on the matter, known as EU261.

"Under EU261 legislation, no compensation is payable when the union is acting unreasonably and totally beyond the airline's control. If this was within our control, there would be no cancellations," a spokesman said.

Passenger rights groups such as Flightright help passengers to claim compensation from airlines under EU261 rules but in exchange for a share of the compensation received.

Many European airlines, including Ryanair, therefore urge passengers to file claims with them directly instead.

(The story wasrefiled to correct paragraph 2 to read "on Friday" instead of "last week")

(Reporting by Victoria Bryan; Editing by Edward Taylor/David Evans)

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Financials (€)
Sales 2019 7 826 M
EBIT 2019 1 503 M
Net income 2019 1 310 M
Debt 2019 242 M
Yield 2019 2,43%
P/E ratio 2019 12,25
P/E ratio 2020 11,30
EV / Sales 2019 2,01x
EV / Sales 2020 1,70x
Capitalization 15 453 M
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 17,1 €
Spread / Average Target 25%
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Managers
NameTitle
Michael O’Leary Chief Executive Officer & Executive Director
David Bonderman Independent Executive Chairman
Peter Brendan Bellew Chief Operating Officer
Neil Sorahan Chief Financial Officer
John Hurley Chief Technology Officer
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