Ryanair is challenging the imposition of a seasonal cap by the Irish Aviation Authority (IAA) at Dublin airport. The airline stated that this cap, which is projected to limit the number of passengers next summer to 25.2 million, will cost them €50 million and result in the loss of 90 jobs. The IAA imposed this limit in order to avoid breaching the overall cap of 32 million passengers. Ryanair has responded by commencing legal proceedings against the IAA over these restrictions, citing huge financial and operational implications. Eoin Kealy, the airline’s Director of Competition and Regulatory, argues that these restrictions will jeopardise the airline’s ability to operate current routes, and will consequently result in the loss of slots in the coming seasons.
In other news, the Irish Prime Minister Simon Harris has allegedly spent nearly €500,000 on private jet journeys over a period of six months for European meetings, as reported by The Sunday Times. The first of these trips was a single-day charter to Brussels, then Warsaw, and back to Dublin, which cost €87,576.58. This occurred just three days after his appointment as head of Fine Gael, marking his inaugural meet with EU leaders. The total cost of these flights, which were conducted between April 11 and September 5 this year, amounted to €498,617.69
Furthermore, Meta is reportedly looking to sublet its currently unutilised space at its Dublin headquarters.
Meta Platforms, Facebook’s parent organisation, has put part of its Dublin-based European headquarters up for sublet, as reported by the Sunday Times. This move occurred close to two years after the company disclosed that it wouldn’t fully occupy all the on-site buildings.
Approximately 18,000 square meters of the development, known as Fibonacci Square, will be offered, which equates to slightly more than half of the property. This relates to one of two blocks that Meta agreed to lease in 2018.
Last week, Meta’s rental agent, Cushman & Wakefield, specified on their website that the social media giant was hoping to rent Block 1, which faces the Royal Dublin Society, at the headline rent cost of €59.50 per square foot (€640.50 per square meter).
Meanwhile, Solar 21, a challenged renewable investment company, is believed to owe a staggering €370 million to around 4,000 Irish investors, according to recent analysis by the Sunday Independent. The company, despite serious obstacles, is still striving to repay these investors, who typically invested around €80,000 in the company’s initiatives. Doubts persist regarding the crucial sale of two of its main assets. As one investor put it, “I’m afraid I’ll never see the majority of my capital again. I’ve essentially thrown away a substantial portion of my children’s legacy.”