We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
RSS FeedFinancial Planning

Ryanair profits lifted by fare hikes


Airline sees rise in bookings after the Olympics

Article comments

Low-cost carrier Ryanair has posted a net profit €596 million (£477 million) for the six months to the end of September, up 10 percent on the €544 million it posted over the corresponding period a year earlier.

In a statement on Monday, the airline said record passenger numbers and an average 6 percent rise in its fares helped boost revenue by 15 percent to €3.1 billion. Ryanair also raised its full-year profit expectations to €490 million to €520 million, up from earlier forecasts in the €400 million to €440 million range.

The airline added that strong bookings after the Olympics and a lower than expected aviation fuel bill also helped in profit exceeding expectations. “Our 10 percent profit increase in the first-half combined with traffic growth of 7 percent during a period of high oil prices and continuing recession/austerity in Europe was another robust result," Ryanair said in a statement.

Nonetheless, it expects a tough operating environment to continue as overall fuel costs rose by a quarter to €218 million with the average cost of oil over the period rising to US$98 per barrel from US$83 a barrel.

It also said, "Further airline failures and consolidation are inevitable." Last week Ryanair announced nine new routes and pleaded with the European Commission not block its proposed merger with Aer Lingus.

Share:

Recommended Articles

Comments

Ryanair profits lifted by fare hikes
Financial Planning

Can finance rise to the challenge of major transformation?

Can finance rise to the challenge of major transformation?

Outdated finance processes, systems and competencies leave too many questions unansweredmore ..


Ryanair reports 157% profits leap and raises forecast

Total revenues rose 11% to €1.49 billion, the airline reported on Monday.more ..

Apple will 'set the world on fire' with iPhone 6 sales

Analysts anticipate an 'unbelievably massive' second half of '14 for a new, larger-screen iPhone, in part because Apple's committed a record $21B for components, tooling and manufacturingmore ..

Apple posts 5% rise in revenues to $37.4bn

CFO Luca Maestri said Apple had beaten the PC industry average in 32 of the last 33 quartersmore ..

Budget: What business wants

CFOs are keen for the chancellor to avoid any uncertaintymore ..

Stay ahead of the curve

CFOs used to low interest rates ignore working capital optimisation at their perilmore ..

Send to a friend

Email this article to a friend or colleague:


PLEASE NOTE: Your name is used only to let the recipient know who sent the story, and in case of transmission error. Both your name and the recipient's name and address will not be used for any other purpose.



In Depth
Can finance rise to the challenge of major transformation?

Can finance rise to the challenge of major transformation?

Outdated finance processes, systems and competencies leave too many questions unanswered more ..

In Depth
Interim CFO or consultant? The pros and cons

Interim CFO or consultant? The pros and cons

Ed Harding offers an insight into the life of an interim CFO and the advantages in driving transformation more ..

Advertisement

* *