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Ryanair announces a better Q3 for 2009
01 February 2010
Traffic grows as fares fall for Ireland’s low cost carrier, Ryanair.
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[Ryanair]
[Quarter 3 results]
[Michael O'Leary]
[Boeing]
[low-cost carrier]
[Europe]
Ryanair announced an €11 million ($15.3 million) loss today, down from a €102 million loss for the same period last year. While traffic grew by 14% compared to the same period last year, margins were offset by lower fares, which were down 12%.
The results were better than expected as yields only fell by 12% rather than the 20% originally predicted.
“Our Q3 loss of €11m is disappointing although better than expected, and a significant improvement on last year’s Q3,” says Michael O’Leary, CEO of Ryanair. “These numbers are distorted by a 37% fall...
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