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Today we are watching…
1. Ryanairย (#ryan)
The boss of no-frills flier Ryanair, Michael OโLeary, has a reputation for speaking his mind. He believes quarantine measures are โidioticโ and โremarkably ineffectiveโ for his airline business, and he expects passenger numbers to halve. His airline is cutting 30,000 workers, but he still had a pitch for investors. OโLeary wonโt hamstring his carrierโs future by accepting state aid. Itโs his goal to โlook beyond next year, and take advantage of significant opportunities for Ryanairโs low-cost model to grow as competitors shrink, fail, or are acquired by government-bailed out carriers.โ The most immediate concern, however, is refunding customers!
2. Disney (#disney)
Itโs โnot magicalโ to attend Disneyland in a sterile, socially-distanced manner, nor to wear a mask to a theatre. There are going to be shorter queues for the rides as thousands protest Disneyโs compulsory attendance measures, thatโs for sure, so c-suite leaders at the company are swapping roles to tackle this tough patch. Josh Dโ Amato, formerly President of Walt Disney World Resort, is now in charge of theme parks. Rebecca Campbell will head the direct-to-consumer division, including the streaming business. Investors have turned on the mega brand recently as dissenting customers have gone viral. More heavy losses are expected come the mid-year earnings release.