Ryanair On 'Pessimistic Side Of Cautious'

Ryanair On 'Pessimistic Side Of Cautious'

The Irish based company said post-tax profits rose by 10 percent to €1.45bn for the year 2017-2018.

Ryanair boosted its passenger count in the year ending March 31, 2018, by 9 percent to 130.3 million, despite grounding 25 aircraft over winter because of problems with pilot rostering. "It may sound like great news that 90% of 2019 fuel needs are hedged at $58/barrel, but higher oil prices are still adding €400M to the bill". The improved performance came despite a drop of 3 percent in air fares, rising fuel prices and the fall-out from last September's rostering error.

Profits have jumped 10pc at Ryanair for the last 12 months to March. "If that continues to build, it's something we may have to look at again".

"We expect the market for experienced pilots in Europe to remain tight for the next 12 months, and accordingly, this will continue to put upward pressure on staff costs for all European Union airlines", it said in a statement.

DUBLIN, May 21 (Reuters) - Higher fuel and staff costs, combined with flat fares, will knock profits at Ryanair back from record levels, Europe's biggest low-priced airline said on Monday.

Ryanair, which previously operated only Boeing Co. aircraft, will expand the fleet at Austria's LaudaMotion to many as 50 Airbus A320s over four years and the narrow-body model could eventually account for 20 percent of the group's overall roster, Chief Executive Officer Michael O'Leary said in an interview Monday.

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Ryanair boss Michael O'Leary warned today that some underperforming airlines will go to the wall over the coming winter as soaring oil prices take a chunk out of their margins.

"LaudaMotion has a valuable portfolio of slots at many congested airports in Germany, Vienna, and Palma de Mallorca, " he said. It anticipates traffic growth of 7% in the 2019 financial year, with flat load factors of 95%.

"This will lead to a modest increase in ex-fuel unit costs next year but will underpin our growth to nearly 600 aircraft and 200m guests per annum by FY24, " O'Leary said.

O'Leary described this outlook as being "on the pessimistic side of cautious".

Its downbeat tone was in contrast to rival EasyJet, Europe's second-biggest low-priced airline, which said last week that it expects profits to rise more than 30 percent for the year to end-September as it benefits from strong travel demand and the collapse of some smaller rivals.

The airline grew its business previous year despite disruption caused by a rostering failure that forced it to cancel flights in the autumn.

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