Ryanair, Europe's biggest low fair airline,
reported Monday that profit in its financial first quarter soared 152%, as it
raised its full-year profit forecast and said it would pay a special dividend
following a 12-month period that had begun with profit warnings.
Net profit rose to €197m from €78m as sales revenues advanced 11%, Ryanair said
in a statement. The results were boosted by the Easter travel period being in
April rather than March last year.
The low fares airline will pay a special dividend
of €520m, or 37.50 cent per share, following shareholder approval and this
payout in the fourth quarter of the company's financial year that will end on
March 31, 2015, will bring total dividends paid since 2008 to €2.5bn.
Ryanair raised its full-year profit guidance to
€620m-650m, from €580m-620m set in May, with passenger numbers growing by 5% to
86m in the financial year.
However, the airline warned that is has "zero
visibility" for the second half of the financial year.
O’Leary said: “Q1 profits were boosted by a
strong Easter (but are somewhat distorted by the absence of Easter on the prior
year Q1). The earlier launch of our summer schedule and actively raising our
forward bookings has delivered a 4% increase in load factor to 86% and enabled
us to better manage close-in yields. Ancillary Revenues rose 4% in line with
traffic growth, as airport and baggage fee reductions were offset by the rising
uptake of allocated seating.“