By Marcus Leach

Ryanair announced a Q3 profit of €15 million compared to a Q3 loss of €10 million in the previous year.

Revenues increased 13% to €844 million as traffic fell 2% and average fares rose 17%.

Unit costs rose 11% due to a 7% increase in sector lengths and an 18% increase in fuel costs. Excluding fuel, sector length adjusted unit costs declined by 1%.

“We are pleased to report a Q3 profit of €15 million which is ahead of expectations due to benign weather conditions in December (compared to widespread snow closures and deicing in Dec 2010) and a better yield performance as we grounded 80 aircraft and cut traffic by 2%," Michael O’Leary, said.

"The 17% rise in average fares is due to reduced seat capacity, longer sectors, and higher competitor fares/fuel surcharges. Ancillary revenues grew 6% to €177 million and rose by 8% on a per pax basis. We extended our successful reserved seat service to all routes from January 10th."

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