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7/29/2019, 7:08 AM (Source: TeleTrader)
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Ryanair's EPS sinks 19% to €0.21 in Q1

Profits dropped 21% in the first quarter of fiscal 2020 for the Ireland-based low-cost airline company Ryanair Holdings plc, amounting to €243m, it said on Monday. The company cited a 6% decline in average fare as well as 19% higher costs as one of the reasons behind the decline, which offset an 11% rise in the number of customers, standing at 41.9 million.

Basic earnings per share (EPS) fell 19% to €0.21, the results showed. The airline added that it expects the delivery of 5 B737-MAX planes in January at the earliest. "We now expect to receive only 30 MAX deliveries in time for S.20 (previously 58) which will cut Ryanair’s S.20 growth rate from 7% to 3% (162m to approx. 157m guests in FY21)," it noted.

Traffic is expected to grow slightly less than expected, by 7% to over 152 million, due to the Boeing MAX delivery delays, according to the earnings report. The company also projected that fuel costs will rise €450 million and other costs to add 2%.

Baha Breaking the News (BBN) / NI