Ryanair (RYA.I) reported after-tax profit for the three months to the end of December ahead of analyst forecasts on Monday, but Europe's largest low-cost carrier again trimmed its forecast for passenger numbers on Boeing (BA.N) delivery delays.
After tax-profit for the third quarter of Ryanair’s financial year was 149 million euros ($156 million), well ahead of the 60 million euro profit forecast in a company poll of analysts.
That was mainly due to a better-than-expected 1% increase in average fares in the quarter, compared to a fall of 7% during the previous quarter, Chief Financial Officer Neil Sorahan said.
Ryanair, which makes most of its profit during its summer season, said it was "cautiously guiding" after-tax profit for the 12 months to March 31 in a range of 1.55 billion euros to 1.61 billion euros ($1.62 billion-$1.68 billion).
Ryanair said it expects to take delivery of nine Boeing (BA.N) 737 MAX aircraft ahead of its peak summer season, fewer than expected, and as a result will cut its forecast for passenger numbers in the 12 months to March 31, 2026, to 206 million from 210 million.
Sorahan, who recently returned from a trip to Boeing's production facilities in Seattle, said the delays were disappointing but that he had a "strong level of confidence," that the nine aircraft would arrive on time.
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