Ryanair profit up €54m for third quarter 2015

Ryanair posted 3rd quarter profits of €103m, a 110% increase on prior year. Traffic grew 20% to 25m as average fares fell 1% to €40 (load factors rose 5% points to 93%) while unit costs fell by 5% (ex-fuel down 1%). “We are pleased to report that our low fares policy delivered strong 3rd quarter traffic and profit growth. Following a strong first half of the 3rd quarter,  we noted weaker pricing and bookings immediately after the terrorist events in Paris and Brussels. We reacted to this softness by running price promotions and discounted fares to stimulate double digit traffic growth. While average fares fell 1% (previously guided flat pricing), this was offset by lower unit costs,” Ryanair’s CEO, Michael O’Leary, said.