Home / Markets / Industries / Transportation

Monday, November 02, 2009

Ryanair First-half Net Income Surges, Revenue Dips

By Sarah Turner

MarketWatch Pulse

LONDON -- Irish low cost airline Ryanair said Monday that its first-half net income rose to 373.5 million euros, from 95.3 million euros a year ago, after lower fuel costs. Last year, the firm took a 119.3 million euros exceptional charge related to depreciation and asset impairments. Revenue declined to 1.77 billion euros, from 1.8 billion pounds last year. Traffic growth is strong but average fares are declining and yields are being negatively impacted by sterling weakness and tourist taxes in the U.K. and Ireland, the firm said. Yields this winter are expected to continue to fall by up to 20%, which will cause material losses in its fiscal third quarter and fourth quarter, it said. Full-year net profit guidance remains at the lower end of a 200 million euros to 300 million euros range, the firm added.

Fox Business Video

- The Crisis With 20/20 Hindsight
- Nov 21, 2009
  
  FOXBusiness.com LIVE
- Jerry Rice Talks Career
- Nov 21, 2009
  
  NFL Receiver on career on the gridiron
- John O'Hurley as Venture Capitalist
- Nov 21, 2009
  
  Comedian on life as venture capitalist
- Excess Spending in Congress
- Nov 21, 2009
  
  Saving $100 Million
- Cavuto Business Report 11-20-09
- Nov 21, 2009
  
  Business Report: Cavuto