Ryanair Q3 Profit Climbs On Higher Traffic; Says Comfortable With FY View

(RTTNews) - Irish airline Ryanair (RYA.L, RYAAY) reported Monday that its third-quarter profit after tax climbed 110 percent to 103 million euros from last year's 49 million euros.

Earnings per share grew 119 percent to 7.73 euro cents from 3.53 euro cents a year ago.

Revenue for the quarter climbed 17 percent to 1.33 billion euros from 1.132 billion euros last year.

Traffic grew 20 percent to 24.9 million customers from 20.8 million customers a year ago. Average fares fell 1 percent to 40 euros, while load factors rose 5 percent points to 93 percent. Unit costs fell by 5 percent, and ex-fuel was down 1 percent.

Looking ahead, for the fourth quarter, the company expects that traffic will grow by 26 percent, compared to previous estimate of 22 percent.

Further, the company said it remains comfortable with full year guidance that net profits will be towards the upper end of the 1.175 billion euros to 1.225 billion euros range, pre-exceptions.

The company cautions, however, that this guidance is heavily dependent on the absence of further unforeseen events impacting close-in bookings and yields in Q4, especially over Easter, where it is working to deliver 26 percent traffic growth.