1st Feb 2016 06:49
LONDON (Alliance News) - Ryanair Holdings PLC on Monday said its post-tax profit, revenue and customer numbers all increased in the third quarter to the end of December, and it affirmed its guidance for its full financial year, albeit saying the outcome would be dependent on no unforeseen events hitting operations.
The Irish low-cost airline said its profit after tax for the three months to the end of December was EUR103.0 million, more than double the EUR49.0 million it made a year earlier. Revenue rose to EUR1.33 billion from EUR1.13 billion, as the number of passengers carried increased to 24.9 million from 20.8 million.
"We are pleased to report that our low fares policy delivered strong Q3 traffic and profit growth," said Michael O'Leary, Ryanair's chief executive.
O'Leary said fare pricing weakened in the later part of the quarter, mainly due to the residual effects of the Paris terror attacks in November, which damped enthusiasm for travel in Europe. As a result of Ryanair launching promotions and cutting prices to keep customers on board, average fares for the quarter fell 1.0%, slightly weaker than previous guidance for flat pricing.
Ryanair said it remains confident it will hit its guidance for the year to the end of March, though cautioned this would be dependent on no further unforeseen events, similar to the Paris attacks, occurring in the quarter and hitting demand.
The group now expects its traffic for the fourth quarter to grow ahead of previous guidance and said this would offset a decline in average ticket prices.
By Sam Unsted; [email protected]; @SamUAtAlliance
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