Ryanair reports disappointing 3QFY2011 results, Air Arabia shares down 6%
Nearly 3000 flight cancellations hurt the carrier’s results in the quarter, despite better revenue performance and higher load factors.
Ryanair anticipates traffic and average fares to continue to benefit from a better mix of new routes and bases and competitor fuel surcharges and lower overall unit costs thanks to better aircraft utilisation. Ryanair’s full year net profit guidance is for EUR380-400 million. For more analysis on Ryanair's latest financial results see: Ryanair reports "disappointing" 3Q EUR10 million loss; fares increase 15%. Full year profit expected
Shares in Ryanair were up 0.3% at the close of trading.
Selected LCCs' daily share price movements (% change): 31-Jan-2011