Ryanair announces €169 Million loss

[McEavelli]

Ryanair plummets to €169m loss | BreakingNews.ie

None of the online articles I've seen mention that their position after Q2 was €260 Million in profit. That suggests a serious problem in the last 6 months.

What some media outlets are talking about is O'Leary's latest mental abberation, Ryanair eyes bid for Lufthansa.

The reporting on the obvious collapse of Ryanair finance in this country contrasts spectacularly with the reporting of Aer Lingus' difficulties, particularly by the likes of Shane Ross.

Only last February Ryanair Triumphant as it eyes profits of up to £260 Million O'Leary was guiding a huge profit.

Last week he was in the Wall Street Journal insisting that Aer Lingus was going to run out of cash and that he was willing to rescue it.

Based on Ryanair dramatic change from €260M profit after Q2 to a €169 loss YOY (even allowing for a write down in Aer Lingus) it looks as if they might be gone first. A €207 Million loss in 6 months (€429 million - €222 million) is quite something, no matter how O'Leary spins it and no matter how much the Irish media ignore it.

[Factorem]

He has too many aircraft and not enough working/middle class parasites on boozy weekends to fill them.

[Mr.B]

[QUOTE=McEavelli;1723084]Ryanair plummets to €169m loss | BreakingNews.ie


Only last February Ryanair Triumphant as it eyes profits of up to £260 Million O'Leary was guiding a huge profit.

That article is from the 2nd of June 2009 and he is guiding profits for the current financial year (to Mar 2010) not the last one for which the loss was recently announced.

[COMMIE]

Maybe thay should have not bought 30% of the national airline.

[slx]

He blamed their investment in Aer Lingus for a lot of the loss. I know if I were a Ryanair investor, I would be VERY concerned about their interest in Aer Lingus.

To me, it looks like they're engaged in some kind of weird battle with Aer Lingus where they want to take it over at all costs.

I really can't see the logic of it at all:

1) Aer Lingus doesn't want to be taken over by Ryanair
2) The regulatory authorities and the state think it's anti-competitive so will fight tooth and nail to prevent it.
3) Aer Lingus is quite a bad fit with Ryanair - traditional airline model, highly unionised, standardised Airbus fleet (Ryanair are standardised on Boeing) and they duplicate loads of Ryanair routes.

I seriously think Ryanair should focus on its own business, and not become embroiled in this very odd, protracted, expensive take-over attempt which is doomed to failure and is quite likely to damage both RyanAir and Aer Lingus.

I don't think it's in their shareholders' best interests.

It's more like they're trying to settle an old score than run a company!

[Mazzy Maz]

He has too many aircraft and not enough working/middle class parasites on boozy weekends to fill them.

Another hate filled one liner. Yawn.

Anyhoo, back on topic. Is this loss not almost entirely due to the devaluation of the Aer Lingus shares in which O'Leary chose to invest? Ryanair's business is still profitable is it not?

[Nem]

After the Q3 results they said that they would be eying a 50/60 million profit. This has not materialised. We haven't seen a) the april/may loadfactors b) Q4 results yet to make this add up. Q3 was a loss so I would be interesting to see those figures. Does anybody have them?

Credit to the airline though that they have made boardroom changes. A new routes manager and head of the legal team should see some improvement. Trouble is at the top though. O'Leary and his buddies continue with the same line. They need to invest in their staff to curb the high turn-over and ensure customer-loyalty with better service.

This summer season will be crucial for Mr. Feckless. He has focussed a lot on routes to Spain and Italy. If, against the odds, he does well out of that then he'll stay in the saddle. If that backfires and the numbers aren't there then come the end of September he'll have some difficult questions to answer.

[Mr.B]

Q4 and April load factors and Pax are on the website Ryanair - About Us - Traffic Figures.

[zakalwe1]

wow...is this monday morning when this first broke on P.IE?

maybe i can put a tenner on darcy getting called up to the lions on wed and boi shares rising to 1.87!

[Nem]

Q4 and April load factors and Pax are on the website Ryanair - About Us - Traffic Figures.

Thanks. It is a shame that they have no breakdown on these or indicate if they have stopped counting those who bought a ticket but did not board.

I noticed the full pdf statement is here: http://www.ryanair.com/site/about/in...4_2009_doc.pdf (note this is a pdf download). Can anyone with a more financial background give the breakdown of this?