50 SKY SHADES - World aviation news

Ryanair says profit guidance unchanged despite weaker fares

Download: Printable PDF Date: 28 Aug 2016 13:09 categories:
Publisher:
Ryanair says profit guidance unchanged despite weaker fares - Finance publisher
Krista Kuznecova
Country: Ireland Aircraft: Airplanes Airline: Ryanair
Source: Reuters

Ryanair does not plan to change its profit guidance despite seeing weaker than expected average fares over the summer months, the airline said on Friday after a briefing for industry analysts.

Average fares in the six months to the end of September are likely to have fallen between 8 and 9 percent from a year earlier, worse than the fall of between 6 and 8 percent that was forecast in July.

But this has been balanced by better than expected cost savings and a lower average rate of empty seats on flights, a spokesman said.

"Softer yields have been offset by costs being better and load factors being better, so the guidance remains the same," the spokesman said.

In July Ryanair said it expected profit for the year to the end of March 2017 to climb 13 percent to between 1.38 billion euros ($1.55 billion) and 1.43 billion euros.

Forecasts for average fares in the second half of the year are unchanged with a fall of between 10 percent and 12 percent expected, he said.

"It's a very competitive market so we will continue to ... be very aggressive on fares," he said.

($1 = 0.8913 euros)

Image result for Ryanair



Loading comments for Ryanair says profit guidance unchanged despite weaker fares...


Recommended

TAG Aviation boosts European operation with 3 new aircraft

Despite the challenging times faced by the business aviation industry due to Covid-19, TAG Aviation has expanded its European operation with the addition of three new aircraft into its fleet. A Bombar...

Skyports collaborates on space-enabled drone deliveries for NHS in Scotland

Drone delivery service provider Skyports has collaborated with technology communications company Vodafone and digital consultants Deloitte to transport medical supplies and samples for the NHS in Scot...

New solutions and innovative adaptations: passenger aircraft utilization amidst COVID-19

As the COVID-19 swept through the industry many airlines were trying to sustain their daily operations as demand for passenger flights hit an all-time lows in March and April of 2020. While some carri...

Life Link III contracts for first IFR-certified AW119 in the civil market

Life Link III, based in the upper-midwest United States, has placed an order for one IFR-certified AW119 single engine helicopter with a future option for a second aircraft. The aircraft will be added...