budget carrier Ryanair has
turned in a post-tax profit of €237 million ($280 million) for the half year,
an 18% increase on the interim figure for 2004.
the six months ending 30 September the carrier generated a one-third rise in
revenues to €946 million as passenger numbers climbed by 29% to reach 18
costs increased by 8% largely as a result of the sharp rise in fuel costs. Fuel
expenditure was up by 108% to €237 million; the carrier points out that its
fuel was unhedged for
almost the entire half-year. Excluding fuel expenses, says the airline, unit
costs fell by 7%.
were 3% higher than last year, which Ryanair
attributes to the traffic generated by its maintaining a low-fare policy and
not raising ticket prices with fuel surcharges.
record traffic and profits reflects the continued successful roll-out of Ryanair’s lowest fare model,
despite difficult trading conditions characterised by record high fuel prices
and intense competition,” says Ryanair
chief Michael O’Leary.
have again reaffirmed our commitment not to impose fuel surcharges on our
passengers and reaped the benefits of this strategy in terms of significant
traffic growth and slightly higher yields during the half-year.”
Ryanair’s full-year net profit
guidance remains unchanged. The carrier continues to remain “cautious” in its
outlook for the second half of the financial year. It expects third-quarter
yields to be “broadly in line” with last year’s figures and for those in the
fourth quarter to fall by 5-10%.