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Ryanair profits down by £890m

by LLB Reporter
20th May 19 9:32 am

Budget airline Ryanair has said their full year profits are down by 295 to £890m, traffic growth of 7% with fares dropping by 6% in the year to 31 March. Revenue was up by 6% to £6.6bn for same period.

Michael O’Leary, chief executive of Ryanair said he is expecting “broadly flat group profits” for the financial year ending in 2020.

Ryanair said, “Assuming revenue per passenger (RPP) growth of 3%, we are guiding broadly flat Group profits.

“This will range from £660m if RPP rises 2%, up to £830m if RPP rises 4%.

“This guidance is heavily dependent on close-in peak summer fares, H2 prices, the absence of security events, and no negative Brexit developments.”

O’Leary added, “As previously guided, Ryanair (excluding Austrian low-cost airline Lauda) reports a full year after tax profit of £890m.

“Short-haul capacity growth and the absence of Easter in Q4 led to a 6% fare decline, which stimulated 7% traffic growth to over 139m (142m guests including Lauda).

“Ancillary sales performed strongly up 19% to £2.1bn, which drove total revenue growth of 6% to £6.6bn.”

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