September 27, 2020

Ryanair had a net profit of 1,150 million in the first fiscal semester

The Irish airline of economic flights Ryanair informed on Monday that it obtained a profit of 1,150 million euros net in the first fiscal semester (April-September), without changes with respect to that same period of the previous year.

The company attributed these results to a reduction of 5% in the price of its average air fare, caused, in part, by the fall in demand in the British market and excess capacity in Germany and Austria.

He also indicated that the fuel bill increased by 22% in the six months until last September, to 1,590 million euros, while personnel expenses, which include the salary increases of pilots, raised costs by 2%. unity.

In this context, Ryanair entered 5,390 million euros in the first half, 11% more, and transported a total of 86 million passengers, 11% more than in the previous period.

Auxiliary revenues, which include on-board sales, baggage surcharges or priority boarding fees, which represent almost 25% of all billing, also rose 28%, to 1,650 million euros, the airline said.

Despite the stagnation of profits, Ryanair confirmed Monday that its shareholders have recovered 250 million euros, after completing a process of repurchase of securities valued at 700 million euros.

Ryanair explained that the "basic earnings per share" (EPS) stood at 1,0247 euros, 3% more than in the six months to September 2018.

Looking ahead to the next fiscal semester, the leading European airline in the low-cost sector said its forecasts are "cautious", as it tries to "avoid unreliable optimism" shown by "some competitors."

However, it anticipates that its passenger traffic will grow 8%, to 153 million annually, and that the price of the average fare "will improve slightly" compared to last winter, although, he said, the market may be affected by an exit of the United Kingdom of the European Union (EU) without agreement.

Therefore, Ryanair estimated that its benefits for this fiscal year, which ends on March 31, will earn between 800 and 900 million euros, compared to the range of 750 and 950 million forecasted last July.

"This forecast depends to a large extent on the situation of the ticket price at the end of the second semester, Brexit and the absence of any security incident," Ryanair concluded.

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