Ryanair's first quarter year-on-year has dropped by 21% despite a growth in passenger numbers.
Profit for the quarter ending June 30th was Â£67m and in that same quarter, traffic grew 3% to 23.2 million passengers.
However, revenue per passenger grew by 1% due to "strong ancillary growth."
Here's why they think profit is down:
- The timing of Easter
- French air traffic controllers strike in June
- Increase in unit costs, mostly due to an increase in fuel costs
I have to add that Ryanair put in one of the largest orders of Boeing planes worth $15.6 billion. Watch the video with O'Leary here. Will that have knocked profits sideways or will that not be shown on the books yetâ¦?
O'Leary once had plans to dominate the European short haul market. Is that likely to be over now? Yeah, I doubt it. Read his plan for domination here.
But if it were the case that Ryanair might be on a slow decline (unlikelyâ¦), you've always got the Top 10 Ryanair campaigns to make you laugh at O'Leary's expense here. What a good marketing sport.
How do you fancy meeting the man himself? Mr O'Leary will be joining us at the World Low Cost Airlines Congress in London. He'll be being grilled by the BBC's Stephen Sackur. Come and join us, it should prove for a very interesting day!