Ryanair remains profitable and maintains full year profit target; profits hit by ash cloud in 1Q2011

Ryanair remained profitable in the three months ended Jun-2010 (1QFY2011) reporting a quarterly profit that exceeded analysts’ estimates, with the carrier also forecasting that fares may rise by as much as 15% in the current period (after increasing 5% in the Jun-2010 quarter). [2333 words]

CAPA Members Login Username: Password: Remember details

Instantly get access to this article now for USD15.00. or If you've already bought this article, you can view it by typing your Article Key:

This report contains the following subheadings:

• Volcanic ash crisis hurts
• Relentless cost discipline bears results; cost focus to continue
• Revenues up 16% exceeding 8% pax increase 
• Ancillaries up by 23% and hovering at around 23% of total revenues; average fares up 5%
• "The strongest balance sheet in Europe"
• Proposes EUR500 million dividend  
• Economies of scale – 43 bases, 1,110+ routes and 250 aircraft and growing
• Ryanair rants: Complaining about…. Tourist taxes and airspace closures
• Profits, yields and pax expected to grow in FY2011

This report contains the following charts and tables:

• Ryanair financial highlights for 12 months ended Mar-2010
• Ryanair operating profit margin and net profit margin: FY2006 to 1QFY2011
• Ryanair passenger numbers and passenger load factor: FY2005 to FY2010
• Fuel costs as a percentage of total operating expenses: 1Q2005 to 1Q2011
• Ryanair operating expense breakdown
• Ryanair fuel hedges for FY2010 and FY2011: as at Jun-2010
• Ryanair revenue growth and pax numbers growth: FY2005 to 1QFY2011
• Ryanair ancillary revenue as a portion of total revenue: 1Q2005 to 1Q2011
• Ryanair fleet plans: FY2007 to FY2013
• Ryanair passenger numbers and passenger growth: FY2007 to FY2013F