PIK

[McG]

Prestwick Aircraft Maintenance Limited is owned by Ryanair.

[G-WATP]

Prestwick Aircraft Maintenance Limited is owned by Ryanair.

If that's the case, why:
a) does data filed by PAML to Companies House list only two directors, neither of whom have any other directorships? https://find-and-update.company-informa ... 5/officers
b) do the latest PAML accounts state "The company has no ultimate controlling party as both directors own 50% of the issued share capital" https://find-and-update.company-informa ... download=0
c) is there no mention of PAML in Ryanair's latest regulatory filing? (https://investor.ryanair.com/wp-content ... F-2020.pdf)

Is the information filed incorrect?

[McG]

No, but there is every likelihood that what I read on Wikipedia previously regarding Ryanair maintenance at PIK is wrong.

[G-WATP]

No, but there is every likelihood that what I read on Wikipedia previously regarding Ryanair maintenance at PIK is wrong.

Indeed. I suspect Ryanair might lease the hangar from PIK, but contract with PAML to provide staff etc to provide maintenance services to Ryanair. It's no doubt much more opaque than that and crafted to take advantage of subsidies, efficient tax arrangements etc.

[McG]

Yes, I think similar exists with the companies that supply pilots and cabin crew to Ryanair. Also they now have multiple AOC's (Poland and Malta) to allow them to cut costs further and a UK AOC to help them circumvent any Brexit restrictions.

[Bearsden]

No fixed assets in PAML balance sheet (not even a tug!) and no mention of any leases . . . so a labour only organisation

The Ryanair company 'in the chain' is Prestwick Aero Limited which has fixed assets and lease commitments

[McG]

That would explain where my confusion on this was arising from.

[southflyer]

Ryanair are to restart PIK-CIA 2x weekly from 1st May 2020. CIA and PSA were popular routes from PIK, would be excellent additions for GLA.

[will1983]

Significant cuts from FR for Mar - June:-

ALC 2pw
BCN 2pw
FAO 2pw
IBZ 2pw starts June
AGP - 2pw
PMI - 2pw starts June
TFS - 2pw

[Ekally1]

Significant cuts from FR for Mar - June:-

ALC 2pw
BCN 2pw
FAO 2pw
IBZ 2pw starts June
AGP - 2pw
PMI - 2pw starts June
TFS - 2pw

Hardly worth it ... government may as well through tenners down a stank