Ryanair Holdings Plc's Q3 Traffic Grew 7% YoY to 41.4M While Average Fares rose 13% YoY to Over €42

Author: Benzinga Newsdesk | January 29, 2024 06:10am

Q3 scheduled revenues increased 21% to €1.75bn.  Traffic grew 7% to 41.4m while ave. fares rose 13% to over €42, thanks to a strong Oct. mid-term and peak Christmas/New Year travel (albeit that close-in loads and fares were softer than originally expected due to the sudden removal of Ryanair flights from many OTA Pirate websites in early Dec.).  Ancillary revenue increased 10% to €0.95bn (c.€23 per passenger).  Total Q3 revenue rose 17% to €2.7bn.  Operating costs increased 26% to €2.7bn, primarily due to a 35% increase in fuel costs, higher staff costs (reflecting pay restoration, crew, engineering & handler pay increases and higher crewing ratios as we improve ops. resilience) and the earlier timing of maintenance.  The widening cost gap between Ryanair and all our EU competitors (which is further enhanced by Ryanair’s low-cost financing and net interest income) remains a growing competitive advantage. 

Posted In: RYAAY