Ad hoc announcement pursuant to Art. 53 LR
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Media Release
lastminute.com signs agreement with Ryanair
The move consolidates European leadership in the Travel-Tech space, strengthening the Dynamic Package offering
Guidance update following soft 1HY24
Amsterdam / Chiasso, 5 July 2024
– lastminute.com N.V. (“lastminute.com”), the European Travel-Tech leader in Dynamic Holiday Packages, announces the signing of its first commercial agreement with Ryanair Holdings (“Ryanair”).
The 3-year agreement will allow lastminute.com to seamlessly offer the European low-cost carrier’s flights to package holidays and flight customers.
CEO of lastminute.com, Luca Concone , commented on the agreement with the largest European airline as follows: “ We have been working towards this for a long time in terms of safeguarding consumer choice in the travel industry and protecting our Company.”
He added: "As the European Travel-Tech leader in Dynamic Holiday Packages, we know this partnership with Ryanair will grant flexibility, choice and value for customers looking for the best holidays and flights.
We have had a long-stated ambition to work closely with every player in the travel industry to ensure consumers can compare services seamlessly and give them the best trip experience possible. We look forward to working closely with our new partner.”
Ryanair’s Chief Marketing Officer, Dara Brady, said: “We are pleased to announce our latest “Approved OTA” partnership with global OTA giant, lastminute.com. This milestone partnership is great news for consumers as lastminute.com will now be authorised to offer Ryanair’s low-fare flights as part of their dynamic holiday packages and flights, putting them in stark contrast to the unauthorised OTAs who continue to overcharge customers with hidden mark-ups and provide fake customer contact and payment information to Ryanair. We look forward to working with lastminute.com and carrying their customers onboard our Ryanair flights throughout the years ahead.”
Update on 1HY2024 and full-year guidance
The positive impact of the Ryanair agreement will start in 2HY24, but the full benefits will be apparent in 2025 as the implementation of the agreement requires multiple technical integrations.
The agreement strengthens the outlook of the Company's mid-term strategic plan, reducing the operational and legal costs linked to conflicts with Ryanair. It also favours the strengthening of the business model with an increased share of Dynamic Packages.
lastminute.com has seen a weaker-than-expected 1HY24, but the outlook for the rest of the year is positive. Management expects revenues for 2024 to be in line with the previous year and adjusted EBITDA to grow due to the increase in the more profitable Dynamic Holiday Packages.
The agreement with Ryanair was achieved thanks to the support of the Nerdylex Nurturing Legal Lab firm.
Financial Calendar
8 August - Publication of H1 2024 Report
Date TBD - Capital Markets Day in Zurich
13 November - Publication of Q3 Trading Update
lastminute.com is the European Travel-Tech leader in Dynamic Holiday Packages. Our mission is to simplify, personalise, and enhance customers' travel experience by leveraging our technology. Thanks to the iconic brand lastminute.com and a rich portfolio of vertical brands, we meet the most diverse needs of travellers across the entire holiday experience. As one of the few fully licensed European tour operators, we offer unlimited real-time travel combinations thanks to our proprietary Dynamic Holiday Packaging engine, providing additional customer protection and exclusive deals. lastminute.com N.V. is a publicly traded company listed under the ticker symbol, LMN on the SIX Swiss Exchange.
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