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Rising traffic boosts Ryanair’s third quarter profits

5th Feb 18 10:37 am

But airline boss warns of further staff ‘disruption’

In a trading update today, Ireland-based Ryanair posted a 12 per cent increase in profit to €106m (£93.6m) in the three months to the end of December, while its passenger numbers rose by 6 per cent to 30.4m.

However, chief executive Michael O’Leary warned analysts against assuming that recent strong performance by European short-haul carriers would continue into the key summer trading period.

“We do not share the optimism of competitors and market commentators for summer 2018 fare rises. We would, even at this early date, urge extreme caution on investor & analyst assumptions for fares” in the year to March 2019,” he said in a statement.

O’Leary also said he expected “localised disruptions” in the months ahead as it recognises unions across the countries it operates in. Shortage of pilots and “our pilot rostering failure” had forced the airline to cancel thousands of flights last year.

Europe’s biggest budget airline is also expected to extend union recognition to cabin crew.

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