Ryaniar reduces 3rd qtr loss

http://www.ryanair.com/en/news/ryanair-q3-loss-reduced-from-102m-euro-to-11m-euro

Ryanair, Europe’s largest low fare airline today (1 Feb) announced a Q3 loss of €11m down from a loss of €102m in Q3 last year. Revenues rose by 1% to €612m, as 14% traffic growth was largely offset by a 12% decline in average fare. Unit costs fell by 23% (excluding fuel they fell by 4%) despite a 3% increase in sector length.

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Our Q3 results were marginally ahead of expectations as a better mix of new routes and bases meant that yields fell by 12% rather than the up to 20% fall we previously guided. We expect this slightly better yield performance to continue into Q4 and accordingly we now believe the full year yield decline will be closer to 15% rather than the 20% previously guided. As a consequence, we have now increased our full year net profit guidance to €275m from the lower end of the range of €200m to €300m previously guided.