DUBLIN Europe's biggest low-cost airline
Ryanair launched a Web site for holiday lettings on Thursday,
providing a platform for owners to create and publish adverts
for their properties and manage bookings.
Ryanair, always seeking new revenue streams, said the cost
of advertising a holiday property would be 200 euros (159
pounds) a year before tax and is offering introductory
"Property owners now have the chance to promote holiday
rentals to Ryanair's 60 million passengers," Ryanair's head of
commercial revenue Sinead Finn said in a statement.
Chief Executive Michael O'Leary has said the airline will
eventually generate so much revenue from sidelines such as
hotel bookings, car rental, insurance, online gambling and
in-flight sales that passengers will one day effectively fly
Ryanair's ancillary revenue grew 40 percent to 363 million
euros, or 17 percent of total sales, in the nine months to the
end of December. It aims to raise that to 20 percent over the
next three years.
In the shorter term, Ryanair, one of the world's most
profitable airlines, has to grapple with soaring oil prices and
a promise never to pass on the fast-rising cost to passengers
in the shape of the fuel surcharges used by other airlines.
In March, O'Leary froze pay for senior managers and has
said the airline is reviewing airport contracts and planning
capacity reductions next winter to reduce costs.
He has also raised check-in and luggage charges twice this
year, bringing the total increase since January to 67 percent.
The airline has said it hopes to save costs by encouraging more
people to travel with hand luggage only and to check in online.
Revenue from the charges has helped offset declining
average fares, however, while the Advertising Standards Agency
last month criticised Ryanair for promoting prices for flights
that did not include the charges.
Ryanair has warned profits may fall by 50 percent this year
as slowing economies and fuel costs take their toll.
(Reporting by Paul Hoskins; editing by David Hulmes)