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Ryanair\u2019s full year profits have fallen 29% to \u20ac1.02bn, the company said.<\/p>\nRyanair\u2019s full year profits have fallen 29% to \u20ac1.02bn, the company said.<\/p>\n
The company saw traffic growth of 7% and a decline in fares of 6% in the year to March 31 2019.<\/p>\n
Revenues at the low-cost airline grew 6% to \u20ac7.56bn over the same period.<\/p>\n
Michael O\u2019Leary, chief executive of Ryanair, said he is expecting \u201cbroadly flat group profits\u201d into the financial year ending in 2020 \u2013 when their reporting will include Lauda in the consolidated Ryanair Group \u2013 but this is dependent on \u201cno negative Brexit developments\u201d.<\/p>\n
We continue to have utmost confidence in these aircraft<\/p>\n
The company said: \u201cAssuming revenue per passenger (RPP) growth of 3%, we are guiding broadly flat Group profits.<\/p>\n
\u201cThis will range from \u20ac750m if RPP rises 2%, up to \u20ac950m if RPP rises 4%.<\/p>\n
\u201cThis guidance is heavily dependent on close-in peak summer fares, H2 prices, the absence of security events, and no negative Brexit developments.\u201d<\/p>\n
The company also said it had delayed the delivery of five Boeing 737-Max aircraft until winter \u2013 with no meaningful cost benefit from the delivery expected until the financial year ending in 2021.<\/p>\n
It said: \u201cWe continue to have utmost confidence in these aircraft which have 4% more seats, are 16% more fuel efficient and generate 40% lower noise emissions.\u201d<\/p>\n
Two Boeing 737-Max aircraft crashes \u2013 one in Ethiopia in March and another in Indonesia in October \u2013 killed 346 people, leading to the aircraft being temporarily grounded.<\/p>\n
Michael O\u2019Leary, chief executive of Ryanair, said: \u201cAs previously guided, Ryanair (excluding Austrian low-cost airline Lauda) reports a full year after tax profit of \u20ac1.02bn.<\/p>\n
\u201cShort-haul capacity growth and the absence of Easter in Q4 led to a 6% fare decline, which stimulated 7% traffic growth to over \u20ac139m.<\/p>\n
\u201cAncillary sales performed strongly up 19% to \u20ac2.4bn, which drove total revenue growth of 6% to \u20ac7.6bn.\u201d<\/p>\n
The board of the company has also approved a \u20ac700m share buyback which will commence later this week and run over the next year.<\/p>\n