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Ryanair upbeat on profit


Ryanair upbeat on profit


Ryanair is optimistic about its full-year profit. Europe’s biggest low-cost airline thinks it will be at the upper end of expectations as rising passenger numbers and average fares help offset disruption from strikes and bad weather.

The Irish airline said made a net loss of 10 million euros in the three months to the end of December. That compared with an 11 million euro loss a year earlier.

Ryanair, which operates more than 1,500 flights a day, said it was on track to make net profit in the year to March towards the top of a 380 million euro to 400 million euro target range.

“This small Q3 loss is disappointing, as we were on track to break even, but earnings were hit by a series of air traffic controllers strikes compounded by a spate of bad weather airport closures in December,” said CEO Michael O’Leary. Ryanair did not quantify the cost of the disruption.

Rivals easyJet and Air Berlin said last week they would take hits of 31 million pounds (36 million euros) and 30 million euros respectively from strikes and winter weather across Europe.

Ryanair said it grew total revenue by 22 percent to 746 million euros during the quarter benefiting from a six percent increase in passenger numbers to 17 million and a 15 percent rise in average fares.

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