Ryanair reports disappointing loss in 3QFY2011

Ryanair revenue up 22% - financial highlights for the three months ended 31-Dec-2010:

• Revenue: EUR746 million, +22% year-on-year;
  • Ancillary: EUR167.1 million, +19.9%;
• Operating costs: EUR746.6 million, +22.3%;
  • Fuel: EUR283.7 million, +37.3%;
  • Airport and handling: EUR114.4 million, +6.2%;
  • Route charges: EUR95.2 million, +20.1%;
  • Labour: EUR89.3 million, +8.6%;
• Operating profit (loss): (EUR300,000), compared with a profit of EUR1.4 million in p-c-p;
• Net profit (loss): (EUR10 million), compared with a loss of EUR11 million in p-c-p;
• Total assets: EUR7611 million, +0.6% when compared with the period ended 31-Mar-2010;
• Cash: EUR2287 million, -18.7% when compared with the period ended 31-Mar-2010;
• Liabilities: EUR1397 million, -20.5% when compared with the period ended 31-Mar-2010;
• Debt: EUR3267 million, +10.5% when compared with the period ended 31-Mar-2010;
• Passenger numbers: 17 million, +6%;
• Load factor: 83%, +1 ppt;
• Average fare*: EUR34, +15%;
• Revenue per passenger: EUR44, +15%;
• Unit costs: +15%;
• Average sector length: +7%;
• Passenger number growth forecast:
  • FY2010: 66.5 million, +14%;
  • FY2011: 73.5 million, +11%;
  • FY2012: 78.5 million, +7%;
  • FY2013: 83.5 million, +6%;
• Net fleet growth forecast:
  • FY2010: 232, -3 aircraft;
  • FY2011: 272, -10**;
  • FY2012: 294, -3**;
  • FY2013: 299, -10**. [more]

*Includes baggage

**2011 to 2013 - 23 aircraft disposals (17 operating leases and six aircraft sales)

Ryanair: "We expect traffic and average fares to continue to benefit from a better mix of new routes and bases, and competitor fuel surcharges. We expect our unit cost performance in Q4 to be marginally better thanks to the launch of new routes in February and March which will reduce the number of grounded aircraft by comparison with Q3. Accordingly, we are now confident that our Q4 and full-year results will be towards the upper end of our previously guided range of a net profit after tax of between EUR380 million to EUR400 million," Company statement. Source: Ryanair, 31-Jan-2011.