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Ryanair H1 profit up 11%

Staff Writer |
Ryanair Holdings reported that its first-half profit after tax rose 11 percent to 1.29 billion euros from 1.17 billion euros in the prior-year period.

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Earnings per share grew to 106.26 euro cents from 91.76 euro cents a year ago.

Total operating revenues - continuing operations for the half-year period grew 7 percent to 4.43 billion euros from 4.13 billion euros last year.

Traffic grew 11 percent to 72 million customers, thanks to a strong Easter and a 5 percent reduction in airfares, saving customers over 160 million euros in the half year.

Unit costs, including fuel savings, fell 5 percent. Excluding fuel, unit costs were flat.

Customer spend rose 2 percent as more customers chose optional services such as reserved seats, priority boarding and car hire.

Ryanair said that following the rostering failure, its promise to offer pilots materially higher pay and better career prospects will add some 45 million euros to its fiscal 2018 crew costs, and up to 100 million euros in a full year, but will not significantly alter the substantial unit cost advantage it has over all other EU airline competitors.

Looking ahead to fiscal 2018, Ryanair reaffirmed its outlook for profit after tax in a range of 1.40 billion euros to 1.45 billion euros.


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