US EditionRyanair's Italy Fine Slams Profits Despite Packed Planes - Ryanair Hldgs (NASDAQ:RYAAY)
Ryanair's revenue rose 9% with 47.5 million passengers, but profit fell due to an 85 million-euro charge from an Italian antitrust fine the airline plans to appeal.
- On Monday, Ryanair Holdings plc reported fiscal third-quarter profit fell despite 9% revenue growth to 3.21 billion euros and 6% passenger traffic increase to 47.5 million.
- Booking an exceptional charge, Ryanair said the move related to an Italian AGCM penalty, booking an 85 million-euro provision for about 33% of the fine and appealing as `baseless`.
- Third-Quarter revenue rose 9% to 3.21 billion euros as traffic increased to 47.5 million passengers with a 92% load factor, and profit after tax was 30 million euros.
- Shares of the low-cost carrier were down in early trading, while Ryanair launched a 750 million euros share buyback in May, cancelling over 13.1 million shares and will pay an interim dividend of 0.193 euros in late February.
- Ryanair expects fleet deliveries to support further traffic growth through fiscal 2027, with 206 B737-8200 Gamechangers in a 643 aircraft fleet and fuel hedging saving 500 million euros.
24 Articles
24 Articles
Ryanair recorded a decline in the quarterly net profit by 80%, Ireland's air company being hit in particular by a huge amendment that applied it in December for abuse of dominant position, transmitted France...
Pinned by the Italian competition authority, the airline has already announced its willingness to appeal and denounces a "unwarranted fine".
The poor relationship that Ryanair has built with European governments is taking its toll. The Irish company has reported an income of 80% below the previous year by presenting the results of the third quarter of its fiscal year, with profits of just EUR 30 million. There are two key reasons: the first, a fall in its sales revenue from EUR 149 million to EUR 115 million. The second is a charge of EUR 85 million resulting from the sanction of EUR…
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