Ryanair Q3 Profits Rise 12% To €106m
Ryanair has reported a 12% rise in Q3 profit to €106 million as average fares fell 4% to €32 per customer. Additionally, traffic grew 6% to 30.4 million, with load factors up 1% to 96% and unit costs falling 1% (ex-fuel unit costs rose 3%).
|Q3 Results (IFRS)||Dec. 31, 2016||Dec. 31, 2017||% Change|
|Profit after Tax (m)||€95||€106||+12%|
Ryanair CEO Michael O’Leary said, "We are pleased to report this 12% increase in profits during a very challenging Q3. Following our pilot rostering failure in September, the painful decision to ground 25 aircraft ensured that punctuality of our operations quickly returned to our normal 90% average. Our AGB customer service programme, coupled with 4% lower fares, stimulated 6% traffic growth to 30.4 million at an industry leading 96% load factor."