My Account Menu

CAPA Login

Register to trial CAPA Membership!

Ryanair reports disappointing 3QFY2011 results, Air Arabia shares down 6%


Europe’s largest LCC Ryanair reported a disappointing loss in 3QFY2011 but the airline is forecasting a stronger final quarter with results towards the upper end of its forecast range. The carrier made a EUR300,000 operating loss and a net loss of EUR10 million, on revenue of EUR746 million.

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.

Air Arabia saw its stock fall 6.7% on Monday. The carrier has a hub in Alexandria, operated through a JV with local Travco Group, the Middle East’s largest travel and hospitality group.

Selected LCCs' daily share price movements (% change): 31-Jan-2011


Want more analysis like this? CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find out more and take a free trial.