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03/11/2014
Half-Year Profit Rises 32% For Ryanair
Ryanair has announced a 32% increase in its half-year net profit.
Its profit rose to €795m, leading the budget airline to predict its full-year profit would now be between €750m and €770m.
The company's previous forecast was €650m.
In the first half of 2014, passenger numbers also increased by 4% and this is expected to rise even further – by 16% – in the second half of the year.
However, it cautioned that the guidance remains "heavily reliant" on the strength of bookings made in the second-half.
The firm has also signed an agreement for up to 200 additional Boeing aircraft to be added to its fleet. The planes, which have extra seats and more leg room, are due to be delivered between 2019 and 2024, and the airline has said it will "significantly lower" its unit costs, therefore enabling it to cut its fares further.
In a statement, Michael O'Leary, CEO of Ryanair, said: "As these strong H1 results and raised full year guidance demonstrate, our business model is performing well but much work remains to be done over the next 12 months."
(JP/CD)
Its profit rose to €795m, leading the budget airline to predict its full-year profit would now be between €750m and €770m.
The company's previous forecast was €650m.
In the first half of 2014, passenger numbers also increased by 4% and this is expected to rise even further – by 16% – in the second half of the year.
However, it cautioned that the guidance remains "heavily reliant" on the strength of bookings made in the second-half.
The firm has also signed an agreement for up to 200 additional Boeing aircraft to be added to its fleet. The planes, which have extra seats and more leg room, are due to be delivered between 2019 and 2024, and the airline has said it will "significantly lower" its unit costs, therefore enabling it to cut its fares further.
In a statement, Michael O'Leary, CEO of Ryanair, said: "As these strong H1 results and raised full year guidance demonstrate, our business model is performing well but much work remains to be done over the next 12 months."
(JP/CD)
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Ryanair Flies Low
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The budget airline Ryanair has revealed financial returns showing a major nosedive in operating profits. Ryanair plunged into the red by €169.2 million (£145.9m) in the year to March after being hit with a 59% hike in its fuel bill.
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