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Ryanair revenue up 1.2%, profits mixed in 3QFY2010

2-Feb-2010 2:23 PM

Ryanair revenue up 1.2% - financial highlights* for the three months ended 31-Dec-2009:

  • Operating revenue: EUR611.9 million, +1.2% year-on-year;
    • Ancillary: EUR139.4 million, +5.8%;
  • Operating cost: EUR610.5 million, -14.5%;
    • Fuel: EUR206.6 million, -37.0%;
    • Labour: EUR82.2 million, +9.7%;
  • Operating profit: EUR1.4 million, compared to a loss of EUR109.2 million in the previous corresponding period;
  • Profit (loss) before tax: (EUR12.5 million), compared to a loss of EUR128.7 million in the previous corresponding period;
  • Net profit (loss): (EUR10.9 million), compared to a loss of EUR118.8 million in the previous corresponding period;
  • Passenger numbers: 16 million, +14%;
  • Load factor: 82%, +1 ppt;
  • Average fares: EUR30, -12%;
  • Revenue per passenger: EUR38, -11%;
  • Unit costs: -23%;
  • Unit costs excl fuel: -4%;
  • Passenger number growth forecast:
    • 2010: 66.3 million, +13%;
    • 2011: 73.0 million, +10%;
    • 2012: 80.0million, +10%;
    • 2013: 85.0 million, +6%;
  • Fleet:
    • 2010: 232, -3;
    • 2011: 272, -10^;
    • 2012: 294: -3^;
    • 2013: 299, -10^. [more]

*According to IFRS standards
^2011 to 2013 – 23 aircraft disposals

Ryanair: “Our Q3 loss of EUR11 million is disappointing although better than expected, and a significant improvement on last year’s Q3. These numbers are distorted by a 37% fall in fuel costs which offset a 12% decline in average fares.  Yields fell by 12% which was better than anticipated due to an improved mix of new routes and bases this winter and deep cuts in loss making winter capacity at high cost airports such as Dublin and Stansted. Ancillary revenues grew by 6%, slower than the growth of passenger volumes due to changes in consumer behaviour,” Michael O’Leary, CEO. Source: Ryanair, 01-Feb-2010.