Ryanair Lifts Profit Forecast as Passenger Numbers Rise
By Martin Baccardax | January 28, 2013 6:32 PM EST
Ryanair lifted its full-year profit forecast after reporting higher-than-expected passenger growth in its key European markets.
Europe's biggest discount carrier said profits for the year ending in March will likely rise to €540m (£461m; $726m) from a previous range of between €490m and €520m. Its three-month profit for the quarter ending on 31 December rose to €18.1m, the company said, thanks to an 8 percent rise in fares over the holiday period and a 3 percent rise in passenger traffic to 17.3m. Total revenue for the quarter rose 15 percent to €969m.
"Our Q3 profit of €18m was ahead of expectations due to strong pre-Christmas bookings at higher yields," said CEO Michael O'Leary in a statement published with the carrier's results.
"The 8 percent rise in average fares reflects our improved customer service, record punctuality and the successful roll out of our reserved seating service."
Fuel costs rose by €81m, a 24 percent increase that slightly outpaced a 22 percent advance for crude oil prices over the same period. Ancillary revenues rose 24 percent to around €13 per passenger while the average cost per passenger, excluding fuel, hit €27 each.
The group said fourth quarter traffic, however, will fall by around 400,000 passengers, or 3 percent, owing to a reduction in capacity the carrier attributes to higher airport fees at Stansted and Dublin airports.
Ryanair shares fell more than 1.2 percent in early London trading to change hands at €5.43 each. The shares have risen 30 percent over the past year.
To report problems or to leave feedback about this article, e-mail:
To contact the editor, e-mail:
Most Popular Slideshows
- From Fat To Fit: Celebrities Who Were Overweight Before They Became The Beauties That They Are
- Kendall Jenner Could Be Next Victoria's Secret Angel [PHOTOS]
- Taylor Swift Named People's Best Dressed Stars Of 2014 [PHOTOS]
- Champions League Results: Barcelona Barely Escapes With A Win, Chelsea Fails To Hold On To The Lead [PHOTOS]
Join the Conversation
- Australia To Lose Hundreds Of Billions Worth Of Infrastructure Due To Rising Sea Levels
- UK Starts Ebola Vaccine Trials on Humans
- Health Virus Alert: Canadians Urged to Watch Out Against Rare Enterovirus D68; 3 Cases Confirmed in B.C., 18 in Alberta
- Economy Travel Not So Anymore with Air Canada, Starts Charging C$25 Checked Bag Fee
- Google Nexus 6 Release Date on Q4 2014 Confirmed by T-Mobile Featuring Wi-Fi Calling
- Samsung Galaxy Note 4 vs. BlackBerry Passport — Specifications, Features, Release Date And Price Showdown
- 3 Signs Apple iPhone 6 Could be in Short Supply Following its Sept 19 Release Date
- Australia Actively Rallying Support For International Coalition Against ISIS
- iOS 8 Jailbreak Release Update: Pangu Devs Will Outrace Evad3rs in Rollout of iPhone 6, iPad Unlocker
- Micromax Canvas A1 Vs Spice Dream Uno Vs Karbonn Sparkle V: A Choice On Which Android Is The Best
- Australian Liberals Urge Expat Kiwis To Favour John Key In New Zealand Election