Ryanair Holdings PLC today (5 Nov) released October group traffic statistics as follows:
| 2018 | 2019 (LF) | Growth | |
| Ryanair Group | 13.1m | 13.8m (96%) | +5% |
| Ryanair | 12.6m | 13.2m (96%) | +5% |
| Lauda* | 0.5m | 0.6m (92%) | +20% |
* Lauda 2018 traffic includes pre-consolidation traffic.
| Rolling Annual | 138.1m | 151.0m (92%) | +9% |
Ryanair Holdings plc today (4 Nov.) reported an unchanged H1 net profit of €1.15bn and pointed to the following highlights.
| H1 (IFRS) – Group | Sep. 30 2018 | Sep. 30 2019 | Change |
| Guests | 76.6m | 85.7m | +11% |
| Load Factor | 96% | 96% | – |
| Revenue | €4.84bn | €5.39bn | +11% |
| PAT | €1.15bn | €1.15bn | – |
| Basic EPS | €0.9974 | €1.0247 | +3% |
EUROPE’S GREENEST, CLEANEST AIRLINE:
The welfare of our planet is of vital importance to our customers and our people. Ryanair has the lowest carbon emissions of any major EU airline at just 66 grams of CO₂ per passenger km. Passengers switching to Ryanair can halve their CO₂ emissions compared to some other major EU carriers. Ryanair operates the youngest fleet, the highest load factors, and newest most fuel-efficient engines. Ryanair will, over the next decade, cut carbon emissions by 10% and noise emissions by 40%.
Ryanair launched its new Environmental Policy at its Sept. AGM, committing to;
While aviation is responsible for just 2% of Europe’s carbon, our industry must work to further cut this very low level of emissions. EU airlines already pay substantial environmental taxes – Ryanair will pay over €630m in such taxes this year. For further info. click here: www.ryanair.com/environment.
BUSINESS REVIEW:
Revenues
Revenue grew 11% to €5.39bn. Scheduled Sales rose 5% to €3.74bn as we carried 86m guests at 5% lower air fares due to the weak consumer demand in the UK and overcapacity in Germany and Austria. Ancillary Revenue jumped 28% to €1.65bn as more guests chose Priority Boarding and Preferred Seat services. In Oct., Ryanair Labs launched a new digital platform with improved, personalised, guest offers.
Costs
Our fuel bill rose 22% (+€289m) to €1.59bn due to higher prices and 11% traffic growth. Ex-fuel unit costs rose 2%, primarily due to higher staff costs, increased pilot pay and higher than expected crew ratios (as pilot resignations slowed to almost zero), higher maintenance (as older aircraft remain in the fleet due to the Boeing MAX delivery delays), and the consolidation of Lauda costs. This was partially offset by improved punctuality and lower EU261 costs. Our fuel is 90% hedged for FY20 at a rate of $71bbl. Currently 63% of our FY21 fuel is hedged at $61bbl. We continue to negotiate attractive growth deals as airports compete to win Ryanair’s traffic growth. Sadly, due to the MAX delivery delays, we will be forced to cut or close a number of loss making bases this winter leading to pilot and cabin crew job losses. We continue to work with our people and their unions to finalise this process.
Group Airlines
The Group airlines continue to develop strongly. Buzz flew 24 B737s in S.19 from its 6 Polish bases, and is developing growth opportunities in other Central EU countries. 7 aircraft are dedicated to charter operations with the remaining 17 operating scheduled flying for Ryanair.
Lauda’s pricing environment remains difficult in its key Austrian and German markets and Lauda’s revenue per guest remains behind target. They are working hard to grow ancillary services, lower costs and increase efficiencies. This summer Lauda operated 80 routes across its 4 bases. With A320 aircraft and pilots recently released from the failure of Thomas Cook and Adria Airways, Lauda plans to grow from a fleet of 23 A320s in S.19 to 38 for S.20. While still loss making in FY20, we expect this very strong traffic growth, cost reduction and improved ancillary spend will push it towards breakeven in FY21.
Malta Air became the 4th airline in the Ryanair Group in June. Over the next 3 years Malta Air will grow our Maltese base from 6 to 10 based aircraft. It will also, over the coming year, operate most of the Group’s French, German and Italian bases.
During H1 Ryanair DAC opened 5 new bases (Bordeaux, Marseille, Toulouse, Southend & Berlin) and launched 241 new routes, including new country markets in Ukraine, Turkey and Lebanon. Ryanair will operate to Georgia and Armenia in S.20. Eddie Wilson was appointed CEO of Ryanair DAC in Sept., reporting directly to the Group CEO.
Boeing MAX update
Delivery of the Group’s first B737-MAX-200 aircraft has been repeatedly delayed from Q2 2019. We now expect our first MAX aircraft to deliver in March/April 2020 at the earliest (subject to EASA approval). The risk of further delay is rising. We expect to receive only 20 MAX-200s (previously 58) in time for S.20 which has cut our S.20 growth rate from 7% to 3% (162m to 157m guests in FY21). We remain confident that these “gamechanger” aircraft (which have 4% more seats, but burn 16% less fuel) when delivered will transform our cost base and our business for the next decade. Due to these delivery delays, we will not see any of these expected cost savings delivered until FY21.
Balance Sheet & Shareholder Returns
Ryanair’s BBB+ rated balance sheet remains one of the strongest in the industry and 70% of our aircraft fleet is debt free. This allows us to grow while weaker airlines collapse, sell or retrench in the current, difficult, market conditions. We have, to date, returned over €250m to shareholders under our €700m 2019 share buyback programme. With €450m still unspent, we retain the flexibility to repurchase more shares from UK holders in any hard Brexit scenario. Despite the share buyback and the impact of IFRS16 (€227m), net debt was just €460m at period end.
Outlook
Our outlook for the remainder of the year remains cautious. We try to avoid the unreliable optimism of some competitors. Full year traffic will grow 8% to 153m but we expect a slightly better fare environment than last winter (although we have limited H2 visibility). This however remains sensitive to any market uncertainty such as a ‘no deal’ Brexit. We expect ancillary revenues will grow ahead of traffic growth, supporting full-year revenue per guest growth of 2% to 3%. The full year fuel bill will rise by €450m and ex-fuel unit costs will increase by 2%. While Lauda’s losses will be higher than originally expected, due to overcapacity in Austria and Germany, traffic will be higher as we take advantage of the availability of low cost A320 leases. We are therefore narrowing our full year guidance to a new range of €800m to €900m PAT. This guidance is heavily dependent on close in H2 fares, Brexit and the absence of any security events.
Ryanair, Europe’s No. 1 airline, today (1 Nov) celebrated the first flight of its Dublin route to Billund, which operates twice weekly, as part of Ryanair’s Dublin Winter 2019 schedule.
This route will continue past March as part of Ryanair’s Summer 2020 schedule so Dublin customers and visitors can book their flights to Billund as far out as October 2020.
To celebrate the start of this new route, Ryanair has released seats on sale from just €18.99, for travel from now until the end of March, which are only available for booking on the Ryanair.com website until midnight Sunday (3 Nov).
Ryanair’s Eimear Ryan said:
“We’re delighted to officially launch our first flight from Dublin to Billund today. Dublin customers can now book their flights to Billund as far out as October 2020.
To celebrate, we are releasing seats for sale from just €18.99, for travel from now until March. These seats must be booked by midnight Sunday (3 Nov), only on the Ryanair.com website. Since these amazing low fares will be snapped up quickly, customers should log onto www.ryanair.com and avoid missing out.”
Dublin Airport Managing Director Vincent Harrison, said:
“We are delighted to see Ryanair’s route network go from strength to strength at Dublin Airport. Billund a beautiful, picturesque town in the centre of Denmark and the home of Lego so I have no doubt it will be a very popular destination for families. We will continue to work closely with Ryanair and its management team to promote this new service.”
Ryanair, la première compagnie aérienne en Europe, a annoncé aujourd’hui (31 octobre) le lancement de deux nouvelles lignes au départ de Bergerac et de Marseille vers Londres Southend au Royaume-Uni, opérant respectivement avec un service de trois et de deux vols hebdomadaires débutant en mars 2020, dans le cadre du programme Ryanair pour l’été 2020.
Les clients et les visiteurs français peuvent désormais réserver leurs vacances d’été à Londres Southend jusqu’en octobre 2020, en bénéficiant des tarifs les plus bas avec la compagnie aérienne la plus verte et la plus propre d’Europe, avec les émissions de CO2 par passager/kilomètre les plus faibles.
Pour célébrer le lancement de ces nouvelles lignes, Ryanair a lancé une offre spéciale sur son réseau européen, avec des tarifs à partir de 9,99 € seulement pour voyager jusqu’à la fin janvier 2020. Cette offre est disponible à la réservation jusqu’à samedi (2 novembre), uniquement sur Ryanair.com.
Hélène Bégasse de Ryanair a déclaré :
“Ryanair a le plaisir d’annoncer le lancement de deux nouvelles lignes à partir de mars 2020, au départ de Bergerac et de Marseille vers Londres-Southend, opérant respectivement avec un service de trois et de deux vols hebdomadaires, dans le cadre de notre programme été 2020. Les clients de Bergerac et de Marseille peuvent désormais réserver leurs vols pour Londres-Southend jusqu’en octobre 2020.
Pour fêter le lancement de ces nouvelles lignes, nous lançons une offre spéciale sur notre réseau européen à partir de 9,99 € seulement pour voyager jusqu’à la fin du mois de janvier 2020, et disponible à la réservation jusqu’au samedi 2 novembre à minuit. Etant donné que ces tarifs bas seront rapidement happés, les clients doivent rapidement se connecter sur www.ryanair.com pour en profiter.”
Ryanair, Europe’s No. 1 airline, today (31 Oct) celebrated the first flight of its new Cork route to Katowice, which operates twice weekly, as part of Ryanair’s Cork Winter 2019 schedule.
This route will continue past March as part of Ryanair’s Summer 2020 schedule so Cork customers and visitors can book their flights to Katowice as far out as October 2020.
To celebrate the start of this new route, Ryanair has released seats on sale from just €29.99, for travel from now until the end of March, which are only available for booking on the Ryanair.com website until midnight Saturday (2 Nov).
Ryanair’s Eimear Ryan said:
“We’re delighted to officially launch the first flight on our new route from Cork to Katowice today. Cork customers can now book their flights to Katowice as far out as October 2020.
To celebrate, we are releasing seats for sale from just €29.99, for travel from now until March. These seats must be booked by midnight Saturday (2 Nov), only on the Ryanair.com website. Since these amazing low fares will be snapped up quickly, customers should log onto www.ryanair.com and avoid missing out.”
Niall MacCarthy, Managing Director of Cork Airport said:
“As Ireland’s fastest growing Airport and enjoying our fourth year of consecutive growth, we are delighted to add Katowice to our growing network of over 50 routes to the UK and Continental Europe. Katowice offers Munster passengers an exciting new winter destination – a city full of cultural renaissance, along with being a gateway to some of the major ski resorts in Poland. Katowice is also located only an hour’s drive from the beautiful city of Kraków, a historical and visual gem.”
16 Routes In Total, 850,000 Customers P.A.
Ryanair, Europe’s No.1 airline, today (31 Oct) launched its London Southend Summer 2020 schedule, with 16 routes in total, including 6 new summer routes to Bergerac, Bucharest, Girona, Marseille, Venice Treviso and Vilnius. Ryanair’s London Southend summer schedule, starting in April 2020, will deliver 850,000 customers p.a. and support 635* jobs in London Southend Airport this year.
Ryanair’s London Southend Summer 2020 schedule will deliver:
London Southend consumers and visitors can now book their holidays on 16 routes as far out as October 2020, flying on the lowest fares and with the greenest/cleanest major airline in Europe, with the lowest CO2 emissions.
To celebrate, Ryanair has released seats on sale from just £9.99, for travel until the end of January 2020, which are only available for booking on the Ryanair.com website until midnight Saturday (2 Nov).
Ryanair’s Alejandra Ruiz said:
“Since the start of our operations in London Southend in April, we have carried more than 650,000 customers, and based on this success to date we are delighted to extend our services at Southend with six new routes for summer 2020.
Our London Southend summer 2020 schedule features 16 routes in total, which will deliver 850,000 customers p.a. and support 635* jobs in London Southend Airport next year.
London Southend customers and visitors can now book low fare seats with Europe’s greenest/cleanest airline on 16 routes as far out as October 2020. To celebrate we are releasing seats for sale from just £9.99 for travel until the end of January 2020, which are available for booking until midnight, Wednesday (2 Nov). Since these amazing low prices will be snapped up quickly, customers should log onto www.ryanair.com and avoid missing out.”
Glyn Jones, CEO of Stobart Aviation, said:
“We are delighted that Ryanair, Europe’s greenest airline, has decided to extend its successful relationship with London Southend with the launch of six new routes for Summer 2020, which is gearing up to be our biggest summer yet. We are delivering a quick and easy experience for passengers, with direct rail and bus links into central London, a fast check-in and security experience and a range of shops and restaurants to enjoy. London Southend is increasingly the best way to fly from the capital, and thanks to our great relationship with Ryanair, even more people will have that opportunity next year.”
Ryanair, Europe’s No. 1 airline, 27 Oct celebrated the first flight on its new twice weekly Lappeenranta service to Budapest, its newest destination. Ryanair’s Lappeenranta winter 2019 schedule offers 3 routes in total to Berlin, Budapest and Milan Bergamo. Summer destinations to Athens and Thessaloniki will also be operated from April 2020.
This new Budapest route will continue past March as part of Ryanair’s Summer 2020 schedule, so Lappeenranta customers and visitors can book their flights to Budapest as far out as October 2020.
Ryanair’s Lappeenranta schedule will deliver:
To celebrate the start of its Lappeenranta winter schedule, Ryanair has released seats on sale from just €16.99, for travel between now and the end of January, which are only available for booking on the Ryanair.com website until midnight Friday (1 Nov).
Ryanair’s Chiara Ravara said:
“We’re delighted to launch our Lappeenranta Winter 2019 schedule, with the start of our new route to Budapest. This winter Ryanair will operate 3 routes to/from Lappeenranta to Berlin, Budapest and Milan Bergamo, and two additional routes to Athens and Thessaloniki from April 2020.
To celebrate, we are releasing seats for sale from just €16.99 for travel from now until the end of January 2020, which are available for booking until midnight, Friday 1st Nov. Since these amazing low fares will be snapped up quickly, customers should log onto www.ryanair.com and avoid missing out.”
Eija Joro, CEO of Lappeenranta airport said:
“This new route and starting yearround operation will take our excellent co-operation with Ryanair to yet another level. Ryanair’s unbeatable low fares offer tempting opportunity to try somewhere new and explore beautiful Finnish Lakeland. Nearest lake is only 2 kms from Lappeenranta Airport, so starting your holiday without crowds could not be any easier.
Lappeenranta Airport offers an easy gateway to Finland and to exciting metropolis of St. Petersburg. Both Helsinki and St. Petersburg are only 2 hours away from Lappeenranta Airport,”.