Ryanair announced results
Despite much higher oil costs, Ryanair maintained a net margin of 10% in Q3, which is significantly ahead of expectations. Ryanair now expects that net profit after tax for the fiscal year ended 31st March 2007 (which we previously guided to rise 16% to €350m) will in fact rise by approx 29% to €390m. Source: rte.ie and finfacts.com
Ryanair today announced another quarter of excellent results. Europe’s biggest low fares airline reported that net profit rose 30% to €48m., traffic grew 19% to 10.3m., yields were up 7% as total revenues increased 33% to €493m. Unit costs rose by 14% as fuel costs increased 52% to €175m.
Mr Millar said the airline was still confident that the European Commission would approve its Aer Lingus takeover proposal, as it had offered a number of competition remedies such as selling off a number of slots. The Commission is conducting a second phase inquiry which should report later this year.
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