Ryanair

European benchmarks began the week with gains. Oil and gold prices increased, but the euro weakened against the dollar. Sentiment was influenced by OPEC+’s decision to pause production hikes in the first quarter of next year, which led to a modest rise in oil prices as fears of oversupply eased. Gains were, however, mostly lost by late morning.

The international benchmark, Brent crude futures, traded at $64.76, while US West Texas Intermediate cost $60.92 a barrel.

Alongside pauses in the new year, OPEC+ countries agreed on Sunday to increase output by a small 137,000 barrels per day in December, maintaining the pace set for October and November.

Meanwhile, investors expect fresh Western sanctions on Russia, targeting Rosneft and Lukoil, to hinder the country’s ability to boost production further.

At the same time, major Western oil companies are benefitting from the disrupted supply of Russian refined fuels due to attacks and sanctions. Refining margins have risen substantially, giving the oil majors a boost. Both BP and Shell share prices were slightly up on Monday before noon in Europe.

“The decision by producers’ cartel OPEC+ to pause further output hikes at the start of next year, amid concerns about a glut of supply, helped give oil prices a lift and, in turn, boosted UK market heavyweights BP and Shell,” said AJ Bell investment director Russ Mould.

The movements also came as BP announced it had agreed to divest stakes in US shale assets to Sixth Street investment firm on Monday.

Winners in Europe

At 11:00 CET, the UK’s FTSE 100 was up by a few points. The DAX in Frankfurt was leading the gains, up 0.8% after an initial stutter. The CAC 40 in Paris started climbing, reaching gains of nearly 0.2%. The lift in France came despite national budget uncertainties and the release of negative PMI data, which showed that the country’s manufacturing sector was still contracting in October.

US futures were positive around the same time, rising between 0.1% and 0.5%.

Meanwhile, the earnings season continues. A number of European companies are reporting this week, including AstraZeneca, BP, BMW, and Commerzbank.

Ryanair opened the week by posting stronger-than-expected results for the first half of its financial year, spanning April to September. Revenues rose 13% to €9.82bn, as traffic grew 3% and fares increased by 13%. Over the same period, profit rose by 42% year-on-year to €2.54bn, driven by a strong Easter season.

The airline’s shares were up 2.90% in Dublin at around midday.

Looking ahead, Ryanair’s outspoken CEO Michael O’Leary criticised countries in Europe where airlines face high taxes, including environmental duties. In an interview with CNBC, he threatened to move capacity outside the UK should the new budget include such a levy.

“Ryanair is also one of several airline operators with an eagle eye on taxes and costs. It is no longer putting up with unfavourable tax systems, preferring to switch flights and routes to less punitive locations,” Mould commented.

In other markets, the euro weakened against the US dollar by more than 0.2%, hitting a rate of $1.1517 by 11:00 CET. At the same time, the Japanese yen and the British pound were also losing ground against the greenback, with the dollar trading at ¥154.15 and the pound costing $1.3136.

Gold traded just above $4,000, rising slightly by 0.3%.

RYANAIR is axing one of its much-hated fees that often catches passengers out at the airport.

From November 12, the £55 to print your boarding pass at the airport will be scrapped.

Currently, families who arrive at the airport without a boarding pass need to head to a check in desk and pay the fee.

This means a family of four could be left £220 out of pocket.

Last year, an elderly couple had to pay £110 after they printed out the wrong boarding pass, sparking fury in other travellers.

However, the budget airline is ditching this fee ahead of the new boarding pass changes this month.

NOT FARE

New Ryanair rules start this MONTH and it could catch out thousands of passengers

FLY AWAY

Ryanair launches new UK flights to barely-known city in Europe which has £3 beers

From next week, printed boarding passes will be scrapped with passengers instead needing to have Digital Boarding passes.

Passengers will have to download the Ryanair app to get the mobile boarding passes instead.

This will be required for all countries, excluding Morocco where a printed boarding pass will need to be given at the check in desk.

Initially hoped to be rolled out back in May, it was delayed to November 3, before being confirmed for November 12.

Ryanair boss Michael O’Leary previously said: “Our goal is to eliminate check-in desks at the airport, just like we’ve done with luggage counters.

“It also means, once we get everybody onto the app, nobody will ever again pay for a boarding pass at an airport – the airport check in fee will be gone. 

“So, I think it will be a smoother, easier journey for everybody.” 

The airline has reassured passengers that if they lose their phone or the battery dies, Ryanair staff can still print out a pass at the airport gate.

Of course, Ryanair still has a number of other strict fees that catch passengers out.

Changing the name of the passenger can cost up to £160, while a missed flight fee is £100.

The airline recently increased the size of their free personal bag that passengers can take onboard, by 5cm.

But you could have to pay up to £45 if it breaks the size rules and you have to check it in.

This is if it is 10kg – anything over this can be a £60 fee.

COST CUTTER

John Lewis launches early Black Friday sale a MONTH early with up to £300 off

SPY STORY

Telltale clues CHEATERS use to spot you secretly reading their dodgy texts & pics

And last year, Ryanair confirmed that passengers who are removed from a flight for being disruptive will be charged £500.

Here’s what you need to know about cancelling a Ryanair flight.

Planning ahead of time could make your holiday much, much more affordable

Regardless of whether you’re planning a quick getaway this winter or later into next summer, you will more than likely be looking for ways to save some cash. Fortunately, one of the easiest ways to shave off money on your holiday is by cutting costs before you’ve even booked your flight.

A variety of things could factor into the upfront cost of your flight, such as what time you book it, what seats you get, and what time you plan on jetting off. However, more often than not, it’s always a good idea to book your flight in advance to save some cash.

Generally, it’s best to book your flight between three and nine months in advance to get the best price while also avoiding booking one last minute, as you may find your costs go up significantly.

Cheapest time to book flights

Your flight price may change significantly depending on what day of the week it is set to depart. According to data from Skyscanner, Fridays and Sundays are generally the most expensive days of the week to fly out of the country.

Meanwhile, Tuesdays are generally the cheapest day to book a flight. However, if you’re determined to have a weekend flight, it may be slightly cheaper to fly out on a Saturday instead of a Friday.

Different airport both departure and arrival

You may find that you save money signifiacntly by arriving at a different airport, generally the lesser popular one, according to Which?. This is because higher-traffic airports tend to be more expensive for arrival flights rather than smaller and quieter airports.

However, you may find that the cheaper airports will be a significantly longer distance away to your hotel than the closer, more expensive one. Overall, you should calculate how much transport to the hotel will cost you at both the different airports and compare that to how much you’ll save on your ticket to see if it’s a big enough saving to take the extra time commuting.

Avoid hidden extras

While budget airlines tend to provide a cheaper upfront ticket cost, you may find that costs will pile on from all the extras being offered, some of which you may believe were initially included in the upfront ticket price. For example, you may be charged extra for carrying any luggage that doesn’t fit under your seat – which may cost much more than you think.

While this is a common practice at airlines like Ryanair and easyJet, other airlines such as British Airways and Jet2 don’t commonly charge for cabin luggage but may have a higher upfront cost as a result.

Avoid airport rush hours

You may find that the cheapest time to depart from any given airport is in the early hours of the morning. You tend to be offered cheaper prices at this time as the airport will generally be less busy than the peak daytime hours.

Otherwise, if you’re not the type to wake up super early, you can still save some cash by departing in the later hours of the night. In fact, the industry tends to call flights heading out at this time red-eye flights and your itinerary may even have a red-eye logo which shows that your flight is heading off during this money-saving period.

Compare flights

If you want to quickly find the cheapest flight possible for any given location, it may be a good idea to use a comparison site such Skyscanner or Kayak can provide all the prices for flights heading to where you want go. Furthermore, many of these sites can allow you to add extras to help you better calculate your costs, such as adding a car hire or hotel. Many sites also allow you to add nearby airports so you can potentially save money by heading to the same area but a different, cheaper airport.