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26/07/2011
Airline Profits Fail To Ground Fare Increases
The Irish 'budget airline' Ryanair has reported a jump in first quarter profits and passenger numbers.
However, it still aims to push up fares, which the firm said would rise by an average of up to 12% in the year to the end of March 2012 as fuel prices rise.
That's even though it has already bought 90% of its fuel for this year, and while at a price 18% above last year's, this is still below current prices.
The rise is in spite of pre-tax profits for the three months to the end of June came in at 156.6m euros ($225m; £138m), up 50% from the same period last year, with passenger numbers rising 18% to 18m.
Ryanair boss Michael O'Leary insisted it was necessary to increase fares as user numbers hit by the "unnecessary airspace closures" due to the ash cloud from a volcano in Iceland in the same period of 2010.
"Significantly higher revenues were largely offset by higher operating costs as fuel rose 49%," he added.
Also, Ryanair has already announced plans to cut its winter capacity as a result of higher fuel costs.
But, it maintained its forecast for profits after tax in the full year at €400m.
This is also happening with the rival budget airline easyjet, which has raised its profit, forecast for the year, saying its new strategy, which includes appealing to more business customers, was seeing "good progress".
Its passenger numbers increased by 17.3%, close to Ryanair's 18% growth with news today of a new route from Belfast International Airport.
From 2 April next year, there will be two flights daily to Southend and one on Saturday.
It means easyJet now operates 22 routes from Belfast International Airport. Tickets for the Southend flights go on sale on Tuesday.
(BMcC/GK)
However, it still aims to push up fares, which the firm said would rise by an average of up to 12% in the year to the end of March 2012 as fuel prices rise.
That's even though it has already bought 90% of its fuel for this year, and while at a price 18% above last year's, this is still below current prices.
The rise is in spite of pre-tax profits for the three months to the end of June came in at 156.6m euros ($225m; £138m), up 50% from the same period last year, with passenger numbers rising 18% to 18m.
Ryanair boss Michael O'Leary insisted it was necessary to increase fares as user numbers hit by the "unnecessary airspace closures" due to the ash cloud from a volcano in Iceland in the same period of 2010.
"Significantly higher revenues were largely offset by higher operating costs as fuel rose 49%," he added.
Also, Ryanair has already announced plans to cut its winter capacity as a result of higher fuel costs.
But, it maintained its forecast for profits after tax in the full year at €400m.
This is also happening with the rival budget airline easyjet, which has raised its profit, forecast for the year, saying its new strategy, which includes appealing to more business customers, was seeing "good progress".
Its passenger numbers increased by 17.3%, close to Ryanair's 18% growth with news today of a new route from Belfast International Airport.
From 2 April next year, there will be two flights daily to Southend and one on Saturday.
It means easyJet now operates 22 routes from Belfast International Airport. Tickets for the Southend flights go on sale on Tuesday.
(BMcC/GK)
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01 June 2010
Ryanair Profits 'Flying' By 200%
Ryanair - which flies from George Best Belfast City and the City of Derry Aiport in NI - has today announced full year profits of €319m, an increase of over 200% on last year's results. Announcing the results, the budget flyer said it is proposing to pay a one-off dividend of €500m equal to €0.
Ryanair Profits 'Flying' By 200%
Ryanair - which flies from George Best Belfast City and the City of Derry Aiport in NI - has today announced full year profits of €319m, an increase of over 200% on last year's results. Announcing the results, the budget flyer said it is proposing to pay a one-off dividend of €500m equal to €0.
02 June 2009
Ryanair Flies Low
The budget airline Ryanair - which flies from two bases in Northern Ireland - 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.
Ryanair Flies Low
The budget airline Ryanair - which flies from two bases in Northern Ireland - 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.
28 January 2004
Ryanair 'cautious' on fares and profits
Ryanair has warned that the company expect profits during this final quarter may decline by as much as 30% over those recorded in the comparable quarter last year.
Ryanair 'cautious' on fares and profits
Ryanair has warned that the company expect profits during this final quarter may decline by as much as 30% over those recorded in the comparable quarter last year.
04 November 2002
Ryanair post blossoming half-year results
Low-cost Irish carrier Ryanair has announced record passenger levels for the first half this financial year. According to figures published today the Irish budget airline carried 7.84 million passengers in the six months ending September 30, 2002 - up 37% on the same period last year.
Ryanair post blossoming half-year results
Low-cost Irish carrier Ryanair has announced record passenger levels for the first half this financial year. According to figures published today the Irish budget airline carried 7.84 million passengers in the six months ending September 30, 2002 - up 37% on the same period last year.
14 January 2004
Rise in NI unemployment figures
The number of people unemployed in Northern Ireland is on the increase according to the latest figures. Labour force statistics released on Wednesday revealed that some 46,000 people are unemployed, a rise of 3,000 on the this time last year.
Rise in NI unemployment figures
The number of people unemployed in Northern Ireland is on the increase according to the latest figures. Labour force statistics released on Wednesday revealed that some 46,000 people are unemployed, a rise of 3,000 on the this time last year.
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