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OTB On The Beach Group Plc

150.00
-5.80 (-3.72%)
24 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
On The Beach Group Plc LSE:OTB London Ordinary Share GB00BYM1K758 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -5.80 -3.72% 150.00 150.00 150.40 157.80 150.00 157.80 363,820 16:28:31
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Travel Agencies 170.2M 10.1M 0.0606 24.88 251.29M

On the Beach Group PLC Partnership with Ryanair

27/02/2024 7:00am

RNS Regulatory News


RNS Number : 5207E
On the Beach Group PLC
27 February 2024
 

27 February 2024

 

On the Beach Group plc

("On the Beach" or the "Group")

 

Partnership with Ryanair

 

On the Beach Group plc (LSE: OTB.L) is delighted to announce that it has signed a long-term distribution agreement with Ryanair Holdings ("Ryanair").

The agreement represents a transformational shift in OTB's relationship with its most significant low cost carrier. It enables OTB customers to seamlessly access Ryanair's low fare flights as part of their holiday packages with full price transparency, whilst continuing to benefit from OTB's flexible payment plans, customer perks (including free lounge and fast track), and ATOL protection. In summary, the agreement: 

-       secures OTB free and fair access to Ryanair seat supply;

-       facilitates a smoother customer journey when booking Ryanair flights as part of an OTB package;

-       simplifies OTB operations while enabling greater focus on areas of strategic value; and

-       enables the parties to move on from the outstanding litigation and focus efforts on building the partnership

Shaun Morton, CEO of On the Beach Group plc said:  

"We are excited to have entered into this transformational partnership with Ryanair. This will improve the booking and travel experience for our customers selecting Ryanair flights, while ensuring we can continue to provide customers with best value package holidays. We will continue our campaign to safeguard consumer choice in the travel sector and the signing of this agreement marks a significant milestone in On the Beach's journey, as we strive to do the best for our customers. Importantly, this agreement enables both parties to move on from outstanding litigation and we look forward to working closely with our new partner."

Ryanair's Dara Brady said:

"Ryanair is pleased to announce our latest partnership with leading OTA, On the Beach. This new deal will see Ryanair partner with its fourth approved OTA partner. On the Beach customers can now book Ryanair flights, seats, and bags as part of their holiday package with the guarantee that they will have full price transparency of Ryanair products (without any overcharges), and that they will receive any information regarding their flight directly from Ryanair as well as having direct access to their booking through their myRyanair account."

 

This announcement contains inside information within the meaning of the Market Abuse Regulation. The person responsible for arranging release of this announcement on behalf of the Company is the Company Secretary.

 

ENDS

For further information: 

 

On the Beach Group plc

Shaun Morton, Chief Executive Officer

Jon Wormald, Chief Financial Officer

 

 

via FTI Consulting

FTI Consulting

Alex Beagley

Fiona Walker

Harriet Jackson

Hannah Butler

Tel: +44 (0)20 3727 1000

onthebeach@fticonsulting.com

 

 

About On the Beach

 

On the Beach Group plc is one of the UK's largest online beach holidays retailers, with significant opportunities for growth. Its innovative technology, low-cost base and strong customer-value proposition provides a structural challenge to legacy tour operators and online travel agents, as it continues disrupting the online retail of beach holidays. Its model is customer-centric, asset light, profitable and cash generative.

 

Cautionary statement

 

This announcement may contain certain forward-looking statements with respect to the financial condition, results, operations and businesses of the Group. Forward looking statements are sometimes, but not always, identified by their use of a date in the future or such words as 'anticipates', 'aims', 'due', 'will', 'could', 'may', 'should', 'expects', 'believes', 'intends', 'plans', 'targets', 'goal' or 'estimates'. These forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that may or may not occur in the future. There are a number of factors that could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements, including factors outside the Group's control. The forward-looking statements reflect the knowledge and information available at the date of preparation of this announcement and will not be updated during the year.

www.onthebeachgroupplc.com

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
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