Ryanair posts weakest annual profits in four years
21 Mai, 2019, 13:07 | Auteur: Auguste Feret
Profit after tax for the period was €1.02bn, down from €1.45bn in the prior year, according to annual results from the airline.
"Short-haul capacity growth and the absence of Easter in quarter four led to a 6pc fare decline, which stimulated 7pc traffic growth to over 139million (142million guests including Lauda)", Mr O'Leary added.
Revenues at the low-priced airline grew 6% to 7.56 billion euros (£6.6 billion) over the same period.
Ryanair said its fares for six months to the end of September were lower than last year and expected the trend to continue, although it said it had no visibility for the second half of its financial year.
"Assuming revenue per passenger (RPP) growth of 3%, we are guiding broadly flat group profits".
"This guidance is heavily dependent on close-in peak summer fares, H2 prices, the absence of security events, and no negative Brexit developments".
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"Times are tough for the travel industry", he said.
US summer air travel will hit a new record this year despite the grounding of Boeing's 737 MAX aircraft after two fatal crashes, a group representing major airlines said on Tuesday. Besides 16% lower fuel consumption and 40% lower noise emissions, Ryanair also plans to benefit from fitting more seats on the new aircraft.
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Ryanair said today that its full year profits fell by 29% to €1.02 billion, while its revenues grew by 6% to €7.56 billion.
Ryanair's board has also approved a €700m share buyback which will commence later this week and run over the next year.
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