kl911
Posts: 3979
Joined: Mon Jul 21, 2003 1:10 am

Ryanair Announces Q1 Profit Increase Of 21%

Tue Aug 03, 2004 7:03 pm

Ryanair, Europe’s No. 1 low fares airline, today (Tuesday, 3rd August 2004) announced record profits for Q1 ended 30 June 2004 of €53.1m. Passenger volumes grew by a record 28% to 6.6m passengers whilst yields declined by 6% during the quarter and, as a result, total revenues rose by 23% to €302.8m. Unit costs fell by 4% and in turn the net margin after tax remains stable at an industry leading 18%.

Announcing these results, Ryanair’s Chief Executive, Michael O’Leary said:

“These record quarterly results reflect the continued disciplined roll out of Ryanair’s low fares model. Passenger volumes grew by 28% to 6.6m in the quarter and we carried more passengers in 3 months than the total traffic carried by Aer Lingus in a full year. Our two new bases at Rome Ciampino and Barcelona Girona have performed particularly well. Ryanair’s strong performance is also reflected in the recent increases in monthly traffic and load factors.

“Yields were 6% lower than last year, a decline that was towards the lower end of our -5% to -10% guidance. Our forward yield guidance remains unchanged. In Quarter 2 we anticipate a yield decline of between –5% to -10%. Next winter, we expect the yield decline to be in the –10% to – 20% range as chronically loss making competitors will continue to dump prices, resulting in even more airline casualties this winter.


Yeah, Go Ryanair!!  Laugh out loud


 
Horus
Posts: 5131
Joined: Sun Feb 22, 2004 1:04 am

RE: Ryanair Announces Q1 Profit Increase Of 21%

Tue Aug 03, 2004 7:14 pm

Despite all the bashing they get on this forum for their 'bad' service, they still manage to achieve even higher profits.

Kudos to Ryanair


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Horus

EGYPT: A 7,000 Year Old Civilisation
 
airblue
Posts: 1785
Joined: Sat May 19, 2001 9:16 pm

RE: Ryanair Announces Q1 Profit Increase Of 21%

Tue Aug 03, 2004 9:30 pm

However Yields were 6% lower than last year....

 
JGPH1A
Posts: 15080
Joined: Thu Aug 14, 2003 4:36 pm

RE: Ryanair Announces Q1 Profit Increase Of 21%

Tue Aug 03, 2004 9:47 pm

I wonder if FR aren't on to a cunning plan with these 1p seats they offer. One of the big problems normal airlines face when offering deep discounts, is brand dilution. You don't want your regulars who stump up your higher fares to down-sell and buy your cheaper products. FR's yield management dictates that as the flight fills up, the seats get more expensive. By offering lots of their seats at these insanely low prices, FR is able to sell tickets to people who would otherwise not have flown at all. Once these Neds have bought their 1p tickets, usually 5 minutes after the flight opens for sale, FR bumps the price of the remaining seats up according. So the people who would have flown anyway, by the time they get round to booking, are stuck with the EUR100.00 o/w fares - because they are not discretionary travellers, they book the flight anyway. Pretty smart - you end up with 100 people on board, 50 of whom paid 1p and 50 of whom paid EUR100 (ie. EUR5000.50) instead of 50 people on board (who would have travelled anyway), who would have paid paid only EUR25.00 if the discretionary chancers hadn't booked first (ie. EUR2500 for the flight).
Young and beautiful and thin and gorgeous AND BANNED ! Cya at airspaceonline.com, losers
 
teva
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Joined: Thu Feb 01, 2001 12:31 am

RE: Ryanair Announces Q1 Profit Increase Of 21%

Tue Aug 03, 2004 11:57 pm

For sure, training cost for the crew didn't reduce their profit....
http://news.scotsman.com/latest.cfm?id=3284685

Teva
Ecoute les orgues, Elles jouent pour toi...C'est le requiem pour un con
 
gkirk
Posts: 23345
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RE: Ryanair Announces Q1 Profit Increase Of 21%

Wed Aug 04, 2004 12:16 am

"Once these Neds have bought their 1p tickets, usually 5 minutes after the flight opens for sale, FR bumps the price of the remaining seats up according"

Neds? Unlike the fools that fly on the likes of BA then?  Big grin Nowt wrong with the 1p fares  Big grin

"Passenger volumes grew by 28% to 6.6m in the quarter and we carried more passengers in 3 months than the total traffic carried by Aer Lingus in a full year."
I would hope so, considering that EI is focussed mainly on 1 base and FR has several
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kl911
Posts: 3979
Joined: Mon Jul 21, 2003 1:10 am

RE: Ryanair Announces Q1 Profit Increase Of 21%

Wed Aug 04, 2004 12:31 am

TEVA,

Why quote an accident which happened long time ago? ( February 27, 2002)

I might as well bring up the BA tragedy : A crosswind had worsened the situation on an on-fire British Airways’ Boeing 737 at Manchester airport in 1985 when 55 people died.

That doesn't mean BA's training costs are low, is it?

KL911
 
7LBAC111
Posts: 2427
Joined: Sun Jul 18, 2004 9:17 am

RE: Ryanair Announces Q1 Profit Increase Of 21%

Wed Aug 04, 2004 12:34 am


Everyone seems to forget however, that the strong year-on-year growth figures were flattered by the fact that a year ago Ryanair bought its faltering rival Buzz, sustaining substantial restructuring costs which weakened that quarter's results.

Debate is what you put on de hook when you want to catch de fish.
 
JGPH1A
Posts: 15080
Joined: Thu Aug 14, 2003 4:36 pm

RE: Ryanair Announces Q1 Profit Increase Of 21%

Wed Aug 04, 2004 12:44 am

Re: Nowt wrong with the 1p fares

Certainly not, if you wish to fly to Bjüttfjøk, Sweden and take a 3 hour bus ride to the nearest pub  Smile/happy/getting dizzy
Young and beautiful and thin and gorgeous AND BANNED ! Cya at airspaceonline.com, losers
 
diesel1
Posts: 1482
Joined: Sat Mar 10, 2001 9:11 am

RE: Ryanair Announces Q1 Profit Increase Of 21%

Wed Aug 04, 2004 1:12 am

Thank you Teva for providing a link to a newspaper story on this Ryanair incident. Nice attempt at a bit more Ryanair bashing, but let's look at the facts...

A full, accurate, and completely unbiased report of what happened, is found at the following http://www.dft.gov.uk/stellent/groups/dft_avsafety/documents/page/dft_avsafety_029538.hcsp

This is an interesting read as it draws a comparison when reviewing events to the British Airtours tragedy at Manchester.

It points out a number of shortcomings with the evacuation and also the general handling of the situation - it is worth noting that it states that Ryanair's training met JAR-OPS requirements.
Of the four safety recommendations made as a result of the incident, three are directed to the CAA and one to the Irish CAA & JAA.

Read the AAIB report completely and carefully, and then compare it with the Scotsman.com report.
You'll see that the Scotsman.com report omits a number of points and thus by implication points the finger of blame somewhat more at Ryanair than the AAIB do.

Draw your own conclusions...

I don't like signatures...
 
teva
Posts: 1764
Joined: Thu Feb 01, 2001 12:31 am

RE: Ryanair Announces Q1 Profit Increase Of 21%

Wed Aug 04, 2004 1:13 am

KL911,
I know it is an old incident.
I can read, thank you.
However, this article is recent (posted yesterday) because the report has just been published.
And the report points the deficiencies of Ryanair in terms of training .
Teva
Ecoute les orgues, Elles jouent pour toi...C'est le requiem pour un con
 
kl911
Posts: 3979
Joined: Mon Jul 21, 2003 1:10 am

RE: Ryanair Announces Q1 Profit Increase Of 21%

Wed Aug 04, 2004 1:18 am

Teva,

'''And the report points the deficiencies of Ryanair in terms of training .'''

The Newspaper article does, but we know how journalists are. The official AAIB report doesn't.

KL911

 
diesel1
Posts: 1482
Joined: Sat Mar 10, 2001 9:11 am

RE: Ryanair Announces Q1 Profit Increase Of 21%

Wed Aug 04, 2004 1:21 am

Teva... internationally recognised standards of training...

7LBAC111 - a good point, but shouldn't you have credited the BBC when you made it ?  Big grin
http://news.bbc.co.uk/1/hi/business/3530006.stm
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