Ryanair on course to break-even in FY08/09, but more industry-wide turbulence ahead
Ryanair stated its outlook for the financial year ending 31-Mar-09 remains “largely unchanged”, although it expects to break-even if oil prices average USD100 per barrel this Northern Winter. This represents an improvement from the previously forecast (in Jul-08) of “break-even to minus EUR60 million”, but could be prematurely optimistic, given the big spike in global oil prices in the past week. [1357 words]
Unlock the following content in this report:
- Expects more airline bankruptcies "in the coming weeks"
- Sees chance of Aer Lingus acquisition boosted by Europe consolidation trend
- Focused on continued cost-cutting efforts
- Postpones the opening of Reus base due to Boeing strike action
- Capacity growth of approximately 14% planned for FY08/09
- Outlook: Tough conditions in European market, but opportunities exist for Ryanair
Graphs and data:
- Ryanair profit matrix
- Major Ryanair fare sales: 04-Jun-08 to 16-Sep-08
- Ryanair passenger growth forecast (4Q08 vs 1Q09 forecast): FY07 to FY12F
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