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Ryanair delivers Q3 profit of €15M
Jan 30, 2012
Airlines
Ryanair has announced a Q3 profit of €15m compared to a Q3 loss of €10m last year. Revenues increased 13 per cent to €844m as traffic fell 2 per cent and average fares rose 17 per cent. Unit costs rose 11 per cent due to a 7 per cent increase in sector lengths and an 18 per cent increase in fuel costs. Excluding fuel, sector length adjusted unit costs declined by 1 per cent.
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 de-icing in Dec 2010) and a better yield performance as we grounded 80 aircraft and cut traffic by 2 per cent. The 17 per cent rise in average 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 per cent to €177m and rose by 8 per cent on a per pax basis. We extended our successful reserved seat service to all routes from 10th, January".
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