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Today we are watching…
1. Ryanair (#ryan)
The boss of no-frills flier Ryanair, Michael O’Leary, has a reputation for speaking his mind. He believes quarantine measures are “idiotic” and “remarkably ineffective” 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. O’Leary won’t hamstring his carrier’s future by accepting state aid. It’s his goal to “look beyond next year, and take advantage of significant opportunities for Ryanair’s low-cost model to grow as competitors shrink, fail, or are acquired by government-bailed out carriers.” The most immediate concern, however, is refunding customers!
2. Disney (#disney)
It’s “not magical” 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 Disney’s compulsory attendance measures, that’s for sure, so c-suite leaders at the company are swapping roles to tackle this tough patch. Josh D’ 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.
