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Tema: Ryanair asalta el Prat
- 26/05/2010, 20:03 #181
- 26/05/2010, 23:29 #182
- 26/05/2010, 23:39 #183
- 20/07/2010, 18:11 #184
seguimos creciendo, importante en esta epoca tan dificil!
RYANAIR Q1 PROFITS UP 1% TO €139M, TRAFFIC GROWS 8% TO 18M PASSENGERS.
Ryanair, Europe’s biggest International scheduled airline, today (July 20) announced a Q1 Net Profit of €138.5m, an increase of 1% over last year’s Q1 figure (excluding pre tax exceptional costs of €50m from the volcanic ash airspace closures in April and May). Total revenues rose by 16% to €896.8m due to an 8% rise in traffic and a 5% increase in average fares. Unit costs rose by 9% due to higher fuel prices (excluding fuel they rose 1%) as sector length grew by 13%.
Summary Table of Results (IFRS) - in euro
June 30, 2009
June 30, 2010
Passengers16.6m18.0m+8%Revenue€774.7m€896.8m+16%Adj. Profit after Tax (Note 1)€136.5m€138.5m+1%Adj. Basic EPS(euro cent)(Note 1)9.269.36+1%Announcing these results Ryanair’s CEO, Michael O’Leary, said:
Our Q1 profits were adversely impacted by the unnecessary closures of European airspace for 18 days in April and May. Despite these volcanic ash disruptions Ryanair continues to increase traffic, yields, and profits, while most of our competitors are cutting capacity and reporting losses.Yields rose by 5% due to a 13% increase in sector length offset by price promotions launched to get people flying again after the airspace closures.Ancillary revenues also rose at a faster rate than the growth in traffic to 23% of total revenues.
Fuel costs rose by 34% to €287m due to higher oil prices and a 13% sector length increase.Costs (excluding fuel) rose by just 1% due to unit cost reductions achieved in staff, airport and handling costs, and we continue to reduce costs across most other areas. We are 90% hedged for FY11 at $730 per tonne, and we have hedged 90% of H1 FY12 at an average of $755 per tonne.
Our new routes and bases (Malaga and Malta) are performing well. We open our 42nd base in Barcelona (El Prat) in September (5 aircraft/20 new routes), and our 43rd in Valencia in November (2 aircraft/10 new routes). We continue to see enormous opportunities to grow our business across Europe as many airports vigorously compete to attract Ryanair’s traffic growth. This aggressive competition between airports has resulted in airport unit costs falling by 8%, and we plan to announce more lower cost routes and bases later this year.
The Irish government’s disastrous €10 tourist tax has caused a continuing collapse in Irish tourism. Traffic at Dublin airport in May fell 15% to just 1.6m, and is on track to fall by a further 3m to just 17m passengers in 2010, down almost 30% from the 23.5m pax. handled in 2008. The Government’s failed policy of gouging tourists with a €10 tax and the DAA monopoly’s policy of increasing charges (by up to 40% in 2010) must be scrapped if this downward tourism spiral is to be reversed. As a direct result of the €10 tourist tax and the DAA’s higher fees, we have cut our winter capacity in Dublin by 15% and have switched these aircraft to other EU countries that have scrapped tourist taxes, lowered airport charges, and returned to tourism growth.
In the UK the tourist tax of £11 combined with the BAA’s high airport charges are damaging both tourism and the British economy. The BAA monopoly has seen its traffic collapse by 2.6m in the first 5 months of 2010 during a period when Ryanair has grown by 3m passengers. We will cut our winter UK capacity by 16%, while Stansted capacity will fall by 17%. The new UK government should urgently break up the high cost BAA monopoly (as recommended by the Competition Commission), and scrap the damaging £11 tourist tax which has caused a significant decline in UK traffic and tourism.
The unnecessary airspace closures in April and May (following the Icelandic volcano) led to the cancellation of 9,400 Ryanair flights, and the loss of almost 1.5m passengers in Q1. We are currently processing claims under the unfair and disproportionate EU 261 regulations, although it will be some time before the full cost of these cancellations will be known. As a result we have maintained our initial estimate of an exceptional cost of €50m. This episode clearly shows that the EU 261 regulations should be amended to include a force majeure clause to relieve airlines of the “duty of care” in cases where the cancellation is not within the airlines control. We have also called for a cap on the quantum and period that passengers can claim for. Such a cap would prevent the discrimination which currently exists, whereby EU coaches and ferries already have their liability limited to the ticket price paid, whereas airlines are exposed to unlimited liability even when governments close their airspace and prevent airlines from flying. These EU 261 regulations should be urgently amended to prevent this unfair, disproportionate, and discriminatory treatment of EU airlines.
Our outlook for the year remains cautious and unchanged. We expect passenger volumes will rise by 11% to 73.5m (i.e. before any volcanic ash disruptions). We anticipate that yields in Q2 will rise by between 10% to 15%, but since we have no visibility, we must remain cautious about yields for the coming winter (H2). We believe it is reasonable to expect that the yield increase for the full year will be within the range of 5% to 10% previously guided. Unit costs excluding fuel will increase by approx. 4% (adjusted for sector length they will fall by 6%). As a result we expect full year Net profits to rise by 10% to 15% or between approx. €350m to €375m, which remains in line with our previous guidance.
Cash in hand due to increased profits rose by €259m to €3.1bln. In June we proposed a one off dividend of €500m payable on October 1 next, subject to shareholder approval at the AGM on 22 Sept, 2010. For further details on the dividend payment, please go to the Investors Relations page on www.ryanair.com.
- 20/07/2010, 21:11 #185
Sin acritud, pero ésta aerolínea no la trago ni con cola.........
- 21/07/2010, 00:29 #186
- 21/07/2010, 08:50 #187
Menudo multipage me marqué con este hilo
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