Passengers, fares and profits up at Ryanair
Ryanair has announced a first-quarter profit of €197million (£156m), up 152% over the previous year.
The airline said average fares rose 9% and traffic was up 4% year-on-year for the three months to June 30 2014.
Traffic grew to 24.3m as load factors rose by 4% to 96%.
Total revenues were up 11% to €1.496bn, while unit costs fell by 2%. Excluding fuel, they rose by 1%.
Ryanair has raised its profit forecast for the year to €620m-€650m, up from €580m-€620m, although it cautioned the first-quarter results were distorted by the timing of the very strong Easter in the first quarter.
Chief executive Michael O’Leary said: "Q1 profits were boosted by a strong Easter (but are somewhat distorted by the absence of Easter on the prior year Q1).
"The earlier launch of our summer schedule and actively raising our forward bookings has delivered a 4% increase in load factor to 86% and enabled us to better manage close-in yields.
"Ancillary revenues rose 4% in line with traffic growth, as airport and baggage fee reductions were offset by the rising uptake of allocated seating."
Lisa
Lisa joined Travel Weekly nearly 25 years ago as technology reporter and then sailed around the world for a couple of years as cruise correspondent, before becoming deputy editor. Now freelance, Lisa writes for various print and web publications, edits Corporate Traveller’s client magazine, Gateway, and works on the acclaimed Remembering Wildlife series of photography books, which raise awareness of nature’s most at-risk species and helps to fund their protection.
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