Ryanair Holdings plc (ADR) (NASDAQ:RYAAY) has announced that they will be pursuing legal action against Google and eDreams for misleading customers with false fair prices.
Many travelers have become a bit accustomed to searching for flights on Google only to find that the fairs advertised are not actually available. I actually had a personal experiece with this in the past 6 months.
Today, Ryanair (RYAAY) announced that it has launched High Court proceedings against both companies to prevent them from “misleading” customers by advertising false fares. eDreams has been permitted by Google to use the subdomain “Ryanair Cheap Flights” and similar misleading headlines to trick customers into purchasing tickets, according to the company.
This isn’t the first time Ryanair has resorted to legal action to hold down their competitors, due to immoral marketing techniques. It should be interesting to see how investors respond to this news today, as Ryanair acts to protect their shareholders and the company as a whole.
The stock closed at $77.03 during the last trading session. It is down 17.69% since April 29, 2015 and is uptrending. It has outperformed the S&P500 by 17.89%.
From a total of 5 analysts covering Ryanair Hldgs (NASDAQ:RYAAY) stock, 3 rate it a “Buy”, 0 a “Sell”, and 2 a “Hold”. This means that 60% of the ratings are positive. Ryanair Hldgs was the topic of 5 analyst reports since August 10, 2015 according to the firm StockzIntelligence Inc. Raymond James upgraded shares on November 3 to a “Outperform” rating. Evercore initiated RYAAY stock in a recent report from September 28 with a “Buy” rating.
Ryanair Holdings plc is a holding firm for Ryanair Limited (Ryanair). The company has a market cap of $19.90 billion. Ryanair operates a low fare, scheduled-passenger airline serving short-haul, point-to-point routes between Ireland, the United Kingdom, Continental Europe and Morocco. It has 13.33 P/E ratio. The Company’s principal fleet consists of Boeing 737-800 aircraft, each having 189 seats.