Ryaniar today raised itâ€™s Net Profit guidance to approxiamately 335m Euros, an increase of 10%. Previously the guidance was an increase of 5%. It was also announced that Ryanair would be ordering 32 more Boeing 737 800 aircraft.
The new orders will take Ryanairâ€™s total number of that aircraft to 281. Ryanair will take delivery of the 32 new aircraft between September 2008 and June 2009. The new orders are set to facilitate annual growth from 42m to 84m passengers in 2012.
Michael Oâ€™Leary, Ryanairâ€™s CEO said in New York: â€œOur outlook for this winter remains cautious. This winter we will launch 106 new routes and 2 new bases (Marseilles and Bremen). We have also hedged our fuel requirements for Q4 at an average cost of $73 per barrel, lower than we had originally anticipated.
â€œBased on our aircraft delivery programme, our new routes and bases, we anticipate that passenger growth will be slightly higher at 22% (previously 20%) to 42.5m for the full year. We anticipate that our loss making competitors will continue to dump fares. We also expect slightly lower load factors (down 2% on last year) during H2 which will give improved yield stability in the winter period. This will result in the decline in forecast yields being closer to 5% which is at the lower end of the (minus 5% to minus 10%) range we previously guided.
â€œAs a result of these factors we believe that the increase in Net Profit after Tax for the fiscal year will be approximately 11% to â‚¬335m, slightly higher than our previous (+5% to +10%) range of profit guidance.â€