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Ryanair reiterates fuel year guidance of EUR570m to EUR700m profit after tax

29-Jul-2013 4:16 PM

Ryanair reiterated (29-Jul-2013) its full-year profit after tax guidance, which remains at between EUR570 million and EUR600 million. The carrier commented: "We expect Q2 yields to rise despite last year’s challenging (post-Olympic) comparables, although yields on close-in summer bookings have been slightly weaker in recent weeks due, we believe, to the heat wave in northern Europe. As ever, our outlook remains cautious for the full year as market conditions are tough with recession, austerity, high fuel costs, and excessive Government taxes (most recently in Belgium) impacting air travel demand and yields. While we expect full year traffic to grow 3% to 81.5m, we still have no visibility over next winter’s yields, and on the basis that the recent yield weakness in close-in summer bookings does not continue, we see no reason to change our full year profit after tax guidance which remains at between €570m to €600m”. [more - original PR]