RYANAIR DELIVERS Q3 PROFIT OF €15M AFTER €10M Q3 LOSS IN PRIOR YEAR FULL YEAR GUIDANCE RAISED FROM €440M TO €480M.
Ryanair, the world’s favourite airline today (Jan 30) announced a Q3 profit of €15m compared to a Q3 loss of €10m last year. Revenues increased 13% to €844m as traffic fell 2% and ave. fares rose 17%. Unit costs rose 11% due to a 7% increase in sector lengths and an 18% increase in fuel costs. Excluding fuel, sector length adjusted unit costs declined by 1%.
Announcing these results, Michael O’Leary, said:
“We are pleased to report a Q3 profit of €15m which is ahead of expectations due to benign weather conditions in December (compared to widespread snow closures and deicing in Dec 2010) and a better yield performance as we grounded 80 aircraft and cut traffic by 2%. The 17% rise in ave. fares (which includes our optional baggage fees) is due to reduced seat capacity, longer sectors, and higher competitor fares/fuel surcharges. Ancillary revenues grew 6% to €177m and rose by 8% on a per pax basis. We extended our successful reserved seat service to all routes from January 10th.
Our new routes and bases have performed well this winter. We open 5 new bases in Baden Baden (Ger), Billund (Den), Palma (Spain), Paphos (Cyprus) and Wroclaw (Poland) in March/April 2012. WE EXPECT TO LAUNCH AT LEAST 1 MORE BASE FOR SUMMER 2012, SHORTLY. The EU recession, higher oil prices, the unfolding failure of the package tour operator model, significant competitor fare increases and capacity cuts, has created enormous growth opportunities for Ryanair, as large and smaller airports across Europe compete aggressively to win Ryanair’s growth.
Ryanair, the world’s favourite airline today (Jan 30) announced a Q3 profit of €15m compared to a Q3 loss of €10m last year. Revenues increased 13% to €844m as traffic fell 2% and ave. fares rose 17%. Unit costs rose 11% due to a 7% increase in sector lengths and an 18% increase in fuel costs. Excluding fuel, sector length adjusted unit costs declined by 1%.
Announcing these results, Michael O’Leary, said:
“We are pleased to report a Q3 profit of €15m which is ahead of expectations due to benign weather conditions in December (compared to widespread snow closures and deicing in Dec 2010) and a better yield performance as we grounded 80 aircraft and cut traffic by 2%. The 17% rise in ave. fares (which includes our optional baggage fees) is due to reduced seat capacity, longer sectors, and higher competitor fares/fuel surcharges. Ancillary revenues grew 6% to €177m and rose by 8% on a per pax basis. We extended our successful reserved seat service to all routes from January 10th.
Our new routes and bases have performed well this winter. We open 5 new bases in Baden Baden (Ger), Billund (Den), Palma (Spain), Paphos (Cyprus) and Wroclaw (Poland) in March/April 2012. WE EXPECT TO LAUNCH AT LEAST 1 MORE BASE FOR SUMMER 2012, SHORTLY. The EU recession, higher oil prices, the unfolding failure of the package tour operator model, significant competitor fare increases and capacity cuts, has created enormous growth opportunities for Ryanair, as large and smaller airports across Europe compete aggressively to win Ryanair’s growth.
... :sconfortato:
