Latest figures from the Civil Aviation Authority show how both Ryanair and Aer Lingus have suffered since easyJet’s arrival in the Republic of Ireland as easyJet has grabbed significant market share.
Aer Lingus’ market share has fallen on both the routes it competes with easyJet from London - to Cork and Shannon; while Ryanair’s fares have collapsed since easyJet’s arrival.
The latest CAA figures show that easyJet has acquired significant market shares on its three routes from London Gatwick, achieving 14%, 27% and 10% of the market between London and Cork, Knock and Shannon respectively.
While Ryanair has lost market share significantly to easyJet on its London-Knock route its levels on both Cork and Shannon are below that of a couple of years ago.
Additionally, Ryanair have been forced to moderate their profiteering on these routes.
Last August ‘promotion’ prices taken directly from Ryanair’s website show that it was charging €119.99 one way before taxes and charges from London Stansted to Knock; €89.99 to Shannon and €59.99 to Cork - all for travel until the end of August 2004.
Prices taken today for travel until the end of August 2005 show Ryanair has been forced to substantially reduce its fares as its behaviour has been tempered by easyJet’s arrival. Due to easyJet’s low prices, Ryanair is now on average charging €60.04 from London Stansted to Knock; €51.50 to Shannon and €50.09 to Cork - all for travel until the end of August 2005.
Toby Nicol, easyJet Head of Communications, said: “easyJet has had a dramatic impact on the Irish market since its arrival. It has grabbed a major chunk of market share from both incumbents in only a few months and has forced the other airlines to bring down their fares to compete with us. With more people travelling for lower fares, the winner here is clearly the consumer, thanks to easyJet.”