Quarterly Results:
Quarterly Net Profit Rises 55%, Beating Expectations
1st Quarter Average Fares Rose by 1% to Just Over €40
Yield Visibility into 2nd Half is Zero, See No Reason to Alter 2nd Half Average Fare Guidance of an 8% Decline
Expects 2nd Half Pricing Environment to Remain Very Competitive, to Grow Traffic by 7%
1st Half Remains Dependent on Close-In 2nd Quarter Summer Bookings, But Still Guide For 1st Half Averge Fares Down 5% 1Q Results Substantially Boosted by Presence of Easter in April
If Brexit Talks Yield No Certainty On UK-EU Flights By Autumn 2018, May be Forced to Cancel Flights From April 2019
Backs Full Year Net €1.4B – Net €1.45B
1st Quarter Net Margin 21% Vs 15%
Raises Full Year 2018 Traffic Target to 131M From 130M
1st Quarter Customers 35.0M Vs 31.2M
1st Quarter Net Proffit EUR397.1M
1st Quarter Operarting Proffit EUR460.2M
1st Quarter Revenue EUR1.91B
As of 8:36am the stock was traiding down c.4.61% at 1727.00p