Ryanair: revenue up 4 per cent to 5.7 billion in the quarter, net profit down 6 per cent to 1.61 billion

Profit for the half-year down 15 per cent to 2.15 billion, with jet fuel costs weighing on results

(Il Sole 24 Ore Radiocor) - Ryanair maintains revenue but sees profits fall. In the second quarter of the financial year, the Irish low-cost carrier generated €5.7 billion in revenue (+4 per cent), with passenger numbers up 5 per cent, whilst net profit fell by 6 per cent to €1.61 billion. For the first half of the year, net profit stood at €2.15 billion, down 15% from the €2.54 billion recorded in the same period last year. The result, according to the press release, reflects a doubling of the price of aviation fuel not covered by hedging (around 20 per cent of requirements), with unit costs rising by 5 per cent over the half-year, and a 4 per cent fall in average fares (which include the summer peak), against a 6 per cent increase in passenger traffic to 125.8 million passengers. Revenue per passenger fell by 3 per cent.

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