Ryanair Reports 3Q Losses

Ryanair has reported a 3Q loss of €35m, but argues that this figure is within its previous guidance estimates. “Our 3Q loss of €35m is in line with previous guidance and is entirely due to a nine per cent fall in average fares and weaker Sterling. We responded to this weaker pricing environment last September with seat promotions and lower fares which stimulated traffic across all markets resulting in six per cent growth in 3Q, and a one per cent rise in monthly load factors,” the airline’s CEO, Michael O’Leary said. In December, Ryanair opened four new Italian bases. It also announced four new bases for spring 2014, which it expects will provide “substantial growth opportunities”. In September 2014, the carrier will take delivery of 175 737-800 NG which it has on order. Traffic grew six per cent to 18 million passengers during the 3Q, yet revenue per passenger declined six per cent with a nine per cent ancillary revenue growth offsetting that figure. 

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