Ryanair Holdings Forum

beaufort's note from this morning: Ryanair continued to expand its passenger traffic and load factor yearon-year, delivered record monthly statistics. Passenger traffic represents number of earned seats flown, while load factor represents number of passengers as a proportion of the number of seats available for passengers. Although the growth momentum for the passenger traffic has significantly slowed comparing to the prior 6 consecutive months where on average, passenger traffic grew +22.8%, it sees some recovery from the +10% growth in April. Such growth, despite ongoing Air Traffic Controllers ('ATC') strikes, was achieved by offering lower fares to customers. As previously announced, pricing will be lower this year (FY2017), particularly in Q1 and Q4, with management expects average fares to fall around - 7%, amid intense competition. Having said that, however, given the Group's cost discipline, continuing positive impact of the AGB customer experience programme, together with significantly improved fuel and FX cost hedging terms this year, we are confident that Ryanair has its momentum for further growth and remain attractive within its sector. The Group expect flat load factor (93%), +9% growth in passenger traffic to 116 million customers, and ex-fuel cost reduction of -1% for the full year. - pulled from Research Tree

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