Published on : Monday, July 29, 2019
According to the airline a six per cent decline in average fares, to €36, had been offset by strong ancillary revenues.
There was an 11 per cent increase in passenger numbers in Ryanair and it carried 42 million guests in the first three months.
There was a 19 per cent rise in cost as fuel bills increased 24 per cent.Ryanair has also fully consolidated costs from its acquisition of Lauda for the first time and the revenues rose 11 per cent to €2.3 billion for the quarter.
Ryanair chief executive, Michael O’Leary stated that the two weakest markets were Germany, where Lufthansa was allowed to buy airBerlin and is selling this excess capacity at below cost prices, and the UK where Brexit concerns weigh negatively on consumer confidence and spending.
There will be significant delays to deliveries with costs mounting from the grounding of the Boeing 737 Max.
O’Leary went on saying that the delivery of their first five B737 Max aircraft has been delayed from quarter one to probably January at the earliest (subject to EASA approval).
They are expecting to receive only 30 Max deliveries in time for summer 20, down from 58, which will cut Ryanair’s growth rate from seven to three per cent.
By 2021 Ryanair is expected to carry 157 million passengers which will go down from 162 million.