Business briefs: Ryanair | LinkedIn | BoI extends Post Office contract | OFT inquiry into Global deal

Published on 04/08/2012 00:00

BUDGET airline Ryanair said July passenger numbers rose 8 per cent on the same month last year, bringing the total number of flyers for 2012 to 77.7 million.

But load factor – the number of passengers as a proportion of the number of seats available for passengers – was 88 per cent compared with 89 per cent.

Last week, Ryanair reported a 25 per cent increase in profit after tax to a record €503 million (£399m).

LinkedIn connects to better sales

LINKEDIN, the professional networking website, has reported higher-than-expected quarterly sales and raised its full-year outlook.

Second-quarter revenues from the US company rose 89 per cent to $228.2 million (about £146.7m) as it increased the upper end of its full-year forecast to $925m from $900m.

The company’s online platform connects professionals, including many seeking jobs.

BoI extends Post Office contract

THE Bank of Ireland has agreed to extend its contract with the Post Office to provide banking services by three years to 2023.

The partnership will also move to a “direct bank/Post Office relationship” following the bank’s £3 million acquisition of the Post Office’s shareholding in Midasgrange, the current joint venture company. The arrangements

are expected to become effective in September.

Competition inquiry into Global deal

The Office of Fair Trading (OFT) yesterday said it will look at the acquisition by Global Radio Holdings of the Real and Smooth stations, formerly owned by GMG Radio.

It said it will consider whether the acquisition could hit competition in the sector.

Media regulator Ofcom will also look into potential media plurality issues raised by the deal, which has already been completed.