Ryanair posted a 15 million euro profit for Q3 of 2011. Revenues increased with 13% to 844 m. euro. Despite traffic fell with 2% and fares rose to 17%. Unit costs rose 11% due to a 7% increase in sector lengths and an 18% increase in fuel costs. Excluding fuel, sector length adjusted unit costs declined by 1%, The Guardian reported.

 

Ryanair CEO Michael O'Leary explained better company performance with grounding 80 aircraft during winter season, traffic cut by 2%. The raised fares by 17% are due to reduced seat capacity, longer sectors and higher competitor/fuel surcharges. The revenues grew 6 % to 177 million euro. 

 

Ryanair will open five new bases in Baden Baden (Germany), Billund (Denmark), Palma (Spain), Paphos (Cyprus) and Wroclaw (Poland) in early spring . 

 

The airline managed to hedge 90% for H1 at USD 990 per tonne and 70% hedged for H2 at approximately USD 100 pbl. Ryanair expects that fuel bill for FY2013 will rise by approximately 350 m. euro.