No-frills airline Ryanair saw its passenger numbers and load factor decline in March compared to a year earlier, partly as a result of reduced capacity.
The Irish airline carried 5.5m passengers in March 2012, down 4% on March 2011's 5.7m.
The load factor only eased by one percentage point - from 79% to 78% - however, as the company has decided to keep scores of aircraft grounded to to higher oil prices.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
In the year-to-date, Ryanair has carried 75.8m passengers and its load factor in the first three months of the year has been 82%.
"As previously guided, Ryanair's 2011/12 winter traffic was expected to decline by approx 5% as we sit up to 80 aircraft on the ground due to higher oil prices," noted Stephen McNamara, Ryanair's head of communications.
JH
-
Divorce financial settlement fights surge – why it pays to agree terms earlyLawyers expect more court battles as tax rises and sharp falls in asset values make divorcing financially more difficult.
-
Emotional investing: what is it and how you can avoid itAre you an emotional investor? Your feelings could be damaging your long-term investments, but here's how to stay rational when the markets are turbulent.
