Ryanair posts reduced Q3 loss

Low-cost carrier Ryanair has reported a loss of €10m in its Q3 results, improving on last year's loss of €11m for the same period.

Ryanair: posts reduced Q3 loss
Ryanair: posts reduced Q3 loss

The budget airline reported the three months to 31 December 2010 showed a 22% increase in revenue to €746m, up from €612m the previous year.

Michael O'Leary, chief executive, Ryanair, said: "This small Q3 loss of €10m is disappointing, as we were on track to break even, but earnings were hit by a series of ATC strikes and walkouts in Q3, compounded by a spate of bad weather airport closures in December.

"The scale of these disruptions is evident by the fact that we cancelled over 3,000 flights in Q3, compared to over 1,400 cancellations during the previous fiscal year."

O'Leary said Ryanair's full-year results will show a net profit and is "confident" it will be towards the "upper end" of previous forecasts of €380m and €400m after tax.

Earlier this month, a Spanish court told the low-cost carrier that it is illegal to charge passengers who forget to print their boarding passes.

Subscribe to Campaign from just £57 per quarter

Includes the weekly magazine and quarterly Campaign IQ, plus unrestricted online access.

SUBSCRIBE

Looking for a new job?

Get the latest creative jobs in advertising, media, marketing and digital delivered directly to your inbox each day.

Create an Alert Now
Share

1 Meet the new breed of ad agency chiefs

A new wave of first-time CEOs are opting to do things differently in an evolving landscape. They discuss the business model of the future with Jeremy Lee.

Case study: How 'This girl can' got 1.6 million women exercising
Shares0
Share

1 Case study: How 'This girl can' got 1.6 million women exercising

"This girl can" was based on a powerful insight: that the fear of judgement by others is the primary barrier holding women back from participating in sport.

Just published

More