Balanced accounts for Ryanair in the first quarter of the 2019/2020 fiscal year. The low-cost airline closed the three months with a Net income down by 21% to 243 million euro. To cause the decrease, explains the company, was the combination of reduction in ticket prices (-6%), more expensive kerosene (150 million more overall) and increase in personnel costs after the tough battle with the unions which led the company to improve the social status of its employees, offering greater rights and guarantees.
In terms of passengers, the group made up of Ryanair, Lauda, Malta Air and Buzz recorded an increase of passenger traffic by 11%, reaching 42 million passengers. Also on the rise turnover, which rose by 11% to 2,31 billion euros.
For the full year ending 31 March 2020, Ryanair confirms the guidance, expecting a slight reduction in net profit of between 750 and 950 million euros. “We are forecasting a 7 percent growth in our passenger traffic to 152 million passengers, slightly less than the 153 million forecast to date due to delays in the delivery of Boeing MAX,” said the chief executive Michael O'Leary in the press release. However, the forecasts could be conditioned, explains the company, by possible unfavorable external factors, such as a further drop in prices in the sector or a "negative" development around the Brexit scheduled for October 31st.
In London, after the quarterly results, the Ryanair title gains 1,73% to £10,12.
