Ryanair, Europeå‘s largest low fares carrier has today written to the London Stock Exchange seeking admission to the FTSE 100 share index, to replace British Airways which has now been ejected.
Ryanair which is the second largest airline by passenger numbers operating to/from the UK, and is the second largest airline in Europe by market capital (currently STG£2,742m), a value that is almost twice that of British Airways.
Ryanair’s application is rooted in the belief that there should be at least one representative of the airline industry in the FTSE 100 index. Since Ryanair is clearly Britain’s favourite airline (Ryanair out carries British Airways typically by a 2 to 1 ratio on most routes where they compete), therefore it is clear that Ryanair by market capitalisation should be admitted to the FTSE 100 to replace British Airways.
Commenting on this application Ryanair’s Financial Director, Howard Millar said;
“Ryanair passed out British Airways’ market capitalisation almost one year ago. Today Ryanair’s market capital is almost twice that of British Airways, and growing. Over the next five years we plan to continue offering more and more low fares to British consumers and visitors, we intend to replace British Airways as the largest carrier of passengers to/from Britain and become the largest passenger airline in Europe.
As one of Europe’s fastest growing and most profitable airlines, we believe Ryanair should be admitted to the FTSE 100 Index to replace British Airways which has been ejected.