Ryanair - 7

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First half results

Ryanair Half Year Results - London Stock Exchange

• Profit after tax €387M, much higher than last year due to lower fuel costs
• Yields down 17% (average fare including bags €39)
• Revenue down 2% to €1767M
• Full year guidance unchanged: Losses in Q3 and Q4 to give full year profit "at lower end of" €200M to €300M
• Total cash & equivalents: €2,536.9m.
• Total debt: €2,586.1m, Net debt: €49.2m
• "we have made little progress in our discussions with Boeing for an order of 200 aircraft for delivery between 2013 and 2016. We won't continue these discussions indefinitely and have signalled to Boeing that if they are not completed before the year end, then Ryanair will end its relationship with Boeing and confirm a series of order deferrals and cancellations"
• If there is no order for new aircraft "Ryanair should change course before the end of this fiscal year and manage the airline over the next three years to maximise cash for distribution to shareholders"