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Ryanair latest finance figures
January 31st, 2011 by elisa

Ryanair released figures today which showed its full year profit guidance remained the same at €380 to €400m. It claims bad weather and air strikes prevented the return to break-even on losses. Quarterly traffic grew 6% to 17 million and fares rose 15%. Total revenues grew by 22% to €746m.
 
Cheif executive officer Michael O’Leary said: “This small Q3 loss of €10m is disappointing, as we were on track to break even, but earnings were hit by a series of ATC strikes/walkouts in Q3, compounded by a spate of bad weather airport closures in December. 
 
“The scale of these disruptions is evident by the fact that we cancelled over 3,000 flights in Q3, compared to over 1,400 cancellations during the previous fiscal year.”
 
O’Leary added that he believed short haul fuel charges imposed by many of Europe’s airlines plus their higher fares had created scope for Ryanair to grow at “slightly higher fares”.
  
Easyjet and Air Berlin revealed last week that the strikes and bad weather had also affected their finances, saying they had cost them £31 million and €30 million respectively.

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