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Ryanair Q1 net profit 197 million euros

Staff writer |
Ryanair announced a Q1 net profit of 197 million euros, an increase of 152% over last year, although cautioned that this result was distorted by the timing of a very strong Easter in Q1 with no holiday period in the prior year comparable.

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Traffic grew to 24.3 million as load factors rose by 4% points to 86%. Average fare rose by 9%, boosted by a strong Easter period, while total revenues were up 11% to €1.496bn. Unit costs fell by 2%, excluding fuel they rose by 1%.

Ryanair's Michael O'Leary said: "Q1 profits were boosted by a strong Easter but are somewhat distorted by the absence of Easter on the prior year Q1. The earlier launch of our summer schedule and actively raising our forward bookings has delivered a 4% increase in load factor to 86% and enabled us to better manage close-in yields.

"Ancillary Revenues rose 4% in line with traffic growth, as airport and baggage fee reductions were offset by the rising uptake of allocated seating."

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