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Ryanair on course to break-even in FY08/09, but more industry-wide turbulence ahead

25-Sep-2008

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:

Subheadings:

  • 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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