Ryanair profits rise 11% despite pilot rostering fiasco

Ryanair profits rise 11% despite pilot rostering fiasco”

"We see no reason to alter our full-year profit after-tax guidance which remains in a range of €1.40bn to €1.45bn", said Ryanair on Tuesday.

The airline is expecting a full-year profit of up to €1.45 billion following €1.29 billion in profit in the six months to the end of September.

Total operating revenues - continuing operations for the half-year period grew 7 percent to 4.43 billion euros from 4.13 billion euros a year ago.

Ryanair flew 72.1 million passengers, also 11 per cent more than the 64.8 million that travelled with it in the six months to September 30 2015.

This would mean traffic of 129 million for the full year, two million fewer than had been expected.

Despite various disruptions and having to cancel up to 20,000 flights this year, Ryanair (LON:RYA) is still confident in making record-breaking profits this year.

Ryanair has seen over 2 billion euros (1.76 billion pounds) knocked off its share price since it announced the first wave of cancellations on September 15, an emergency measure to free up standby pilots to ensure the smooth operation of its fleet of 400 planes.

Fares fell 5 percent in the fiscal first half, compared with an initial forecast for an 8 percent slide, and are set to drop by 4 to 6 percent in the second six months, better than an earlier prediction of 5 to 7 percent, Ryanair said.

Chief operations officer Michael Hickey has resigned over the mishap.

Increases in pay will cost around 100 million euros per year if accepted by pilots in all of the company's bases, it said.

The airline also underlined its concern about flight disruption if there is no industry agreement before September next year, and that it was anxious that the UK Government "continued to underestimate the likelihood to flight disruption to/from the UK".

Meanwhile, Ryanair said it was responding to the opportunities created by the collapse of rivals such as Monarch, Air Berlin and Alitalia in the over-crowded European airline market and believed other "financially troubled" EU airlines would follow them.

Like this


31 October 2017
Arjun Kapoor's first look from Sandeep Aur Pinky Faraar out!
A report in HT Cafe quoted Arjun as saying, "Dibakar wanted me to understand the world the character comes from". Arjun will be seen playing the character of a 30 year old police officer in Delhi Police's special unit.

31 October 2017
Troopers give tips for Halloween safety
Officers on patrol will be equipped with glow bracelets and glow sticks for children to promote their visibility as pedestrians. Confirm that costumes allow the wearer to see clearly. ¯ Young children should be with parents, older kids with friends.

31 October 2017
Torch for Pyeongchang Winter Olympics to Arrive in Korea This Week
Figure skating icon Kim Yu-na expressed hopes on Monday that the upcoming relay of the Olympic flame will heat up the mood for the PyeongChang Games.

31 October 2017
KJo brings up nepotism issue at 'Ittefaq' promotion
Shah Rukh Khan , Akshaye Khanna, Renu Chopra, Sonakshi SInha, Karan Johar at the promotional event of Ittefaq . The mystery is about who is telling the truth and who is not, and who killed the two people.

31 October 2017
Tyson Foods, Inc. (NYSE:TSN) Holdings Boosted by Exane Derivatives
ILLEGAL ACTIVITY NOTICE: This news story was originally posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. Finally, Cadence Bank NA purchased a new position in shares of Tyson Foods in the third quarter worth about $200,000.

31 October 2017
Square announces fully integrated high-end 'Square Register' with Apple Pay reader
Soon, instead of swiping and signing an iPad for your coffee, you'll be swiping and signing on these Square Registers . The Register also automatically checks for software updates and can be connected over Ethernet or Wi-Fi.

31 October 2017
Roque warns Duterte detractors: 'If you throw stones, I'll throw hollow blocks'
Roque's new role as Duterte's spokesman signals an aggressive and combative presidential spokesperson to defend the chief executive. "I had access to the president".

31 October 2017
Whittaker gets big boost in title bid as UFC hits Perth
Ticket pre-sales for UFC 221 in Perth are now open for registration via this link . Anything can happen between now and February 11. "I've always loved Australia".

31 October 2017
RCPD collects 167 pounds of pills at take-back event
A Drug Take Back event in Logan County netted 172 pounds of unwanted and unused medications, the Sheriff's Department says. Medicines that languish in home cabinets are highly susceptible to diversion, misuse, and abuse.

31 October 2017
USA parents find meth in Halloween trick-or-treat candy
Police encouraged parents to throw away their children's candy, to be safe, even if they sift through it and no meth turns up. Menominee Tribal Police have asked parents to pay extra attention for any suspicious objects in their child's candy.