Ryanair’s summer bookings hit by UK weather
Ryanair says summer bookings have been hit by the recent heat wave in Northern Europe.
The low cost airline reported profits have fallen by 21% to 78 million euros in the three months to June 30.
Average fares fell 4% due to the timing of Easter and the impact of the June French ATC strikes but revenue per passenger rose 1% due to strong ancillary growth.
However it said close-in summer bookings have been slightly weaker in recent weeks due to the ‘heat wave in Northern Europe’.
The airline reported full year guidance remains unchanged.
It said: "While we expect full year traffic to grow 3% to 81.5m, we still have no visibility over next winter’s yields, and on the basis that the recent yield weakness in close-in summer bookings does not continue, we see no reason to change our full year profit after tax guidance which remains at between €570m to €600m."
Ryanair’s CEO, Michael O’Leary, said: "As previously guided higher fuel costs and the timing of Easter led to Q1 profits falling €21m to €78m. Ancillary revenues grew by 25% to €357m (27% of total revenues) driven by the successful development of reserved seating, priority boarding, and higher admincredit card fees. "
Diane
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