Passengers up, prices down at Ryanair
Ryanair has revised its full-year profit guidance after reporting a drop in ticket prices for the first half of its financial year.
Average fares fell by 2% in the six months to September 30 although Ryanair achieved a 1% increase in profit for the period, to €602m.
However, fares have continued to fall this winter, which will lead to a reduction in Ryanair’s full year profit guidance from €570m to approx. €510m.
Unit costs rose 3%, largely due to a 7% increase in fuel prices.
Passenger numbers grew 2%, to 49 million, and revenue per passenger increased 2% due to a 22% rise in ancillary revenues.
Chief executive Michael O’Leary said: "We are pleased to report slightly increased H1 profits, particularly against a backdrop of softer fares this summer.
"Yields in Q3 have softened, which is good news for our customers and has led to strong growth in traffic (up 6% in October) and load factors (up 1%).
Ryanair also announced its will operate a fully-allocated seating system from February 1.
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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