Ryanair
(RYA)
on
Monday
cut
its
full-year
profit
guidance
after
its
flights
were
removed
from
third-party
travel
booking
sites
and
it
endured
a
weaker
festive
period.
The
Dublin-based
carrier
said
profit
after
tax
in
the
three
months
that
ended
December
31
fell
93%
to
€15
million
(£12.78
million)
from
€211
million
a
year
before,
as
higher
fuel
costs
offset
a
rise
in
revenue,
it
said.
Shares
fell
3%
on
Monday
morning.
While
passenger
traffic
and
airfares
were
higher
than
a
year
ago,
Ryanair
said
plane
loads
and
yields
during
the
festive
period
were
“softer
than
previously
expected”.
This
was
due
to
the
airline
having
to
lower
prices
in
response
to
the
“sudden
(but
welcome)
removal”
of
its
flights
from
online
travel
agency
websites
in
early
December,
Ryanair
said.
Nevertheless,
revenue
in
the
quarter
jumped
17%
to
€2.70
billion
from
€2.31
billion
a
year
prior.
Ryanair
Passengers
Still
Expected
to
Grow
Passenger
traffic
grew
7.8%
to
41.4
million
from
38.4
million
in
the
corresponding
quarter
a
year
ago,
while
the
carrier’s
load
factor
–
ticked
down
a
notch
to
92%
from
93%
a
year
before,
Ryanair
said.
Looking
ahead,
Ryanair
said
it
continues
to
target
full-year
traffic
of
approximately
183.5
million
passengers,
despite
slightly
lower
third-quarter
load
factors
and
Boeing
plane
delivery
delays.
Traffic
in
financial
2023
was
168.6
million
passengers,
so
it
will
be
up
8.8%
in
financial
2024
if
the
target
is
met.
Additionally,
the
airline
narrowed
its
profit
after
tax
guidance
for
the
year
ending
March
31
to
a
range
of
between
€1.85
billion
and
€1.95
billion
from
a
previously
expected
range
of
€1.85
billion
to
€2.05
billion.
Profit
after
tax
in
financial
2023
was
€1.31
billion.
Ryanair
warned
that
the
full
year
result
will
be
heavily
dependent
on
avoiding
unforeseen
adverse
events
in
the
fourth
quarter,
such
as
the
Ukraine
war,
the
Israel-Hamas
conflict,
and
further
Boeing
delivery
delays.
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