Report of Foreign Issuer (6-k)
October 18 2016 - 9:33AM
Edgar (US Regulatory)
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-
K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
For the
month of October 2016
RYANAIR HOLDINGS PLC
(Translation
of registrant's name into English)
c/o Ryanair Ltd Corporate Head Office
Dublin
Airport
County Dublin Ireland
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file
annual
reports
under cover Form 20-F or Form 40-F.
Form
20-F..X.. Form 40-F.....
Indicate
by check mark whether the registrant by furnishing the
information
contained
in this Form is also thereby furnishing the information to
the
Commission
pursuant to Rule 12g3-2(b) under the Securities
Exchange
Act of
1934.
Yes
..... No ..X..
If
"Yes" is marked, indicate below the file number assigned to the
registrant
in
connection with Rule 12g3-2(b): 82- ________
RYANAIR REDUCES FY17 GUIDANCE BY 5% to €1.30BN to
€1.35BN RANGE
FULL YEAR PROFITS EXPECTED TO GROW BY 7% INSTEAD OF PREVIOUSLY
GUIDED 12%
Ryanair,
Europe's favourite airline today (Tues, October 18) reduced its
full year net profit guidance by 5% from a previous range of
€1.375bn - €1.425bn to a new range of €1.30bn -
€1.35bn. The primary cause of this slightly lower growth in
full year profitability is the 18% fall of Sterling post Brexit
which will reduce H2 average fares by between 13% to 15% as opposed
to the previously guided 10% to 12%.
Ryanair
confirmed that its H1 fares were marginally weaker at -10% compared
to previously guided -9%. However, these lower fares will be partly
offset by a better than expected cost performance. Ryanair now
expects full year ex-fuel unit costs to decline by 3% compared to
previously guided 1%. Ryanair also expects full year load factor to
be 1% better than guided at 94%, and now expects that full year
traffic will increase to 119m, which is 12% growth on last year's
106m customers.
Ryanair's CEO Michael O'Leary said:
"The recent sharp decline in Sterling post Brexit (which accounts
for approx. 26% of Ryanair's FY17 revenues) will weaken H2 yields
by slightly more than we had originally expected. While higher load
factors, stronger traffic growth and better cost control will help
to ameliorate these weaker revenues, it is prudent now to adjust
full year guidance which will rise by approx. 7% (over FY 2016)
rather than our original guidance of 12%. This decline is primarily
due to the impact of weaker Sterling on our H2 fares.
We would caution that this revised guidance remains heavily
dependent upon no further weakness in H2 fares (-13% to -15%) or
Sterling from its current levels (€1 = £0.9050). As
Ryanair will continue to be load factor active and price passive
throughout the winter season at these low prices, there has never
been a better time for customers to book or fly with
Ryanair."
ENDS
Note - "This announcement includes inside
information."
For further information
please
contact:
Neil
Sorahan
Piaras
Kelly
Ryanair Holdings plc
Edelman Ireland
Tel: +353-1-9451212
Tel: +353-1-6789333
www.ryanair.com
ryanair@edelman.com
SIGNATURES
Pursuant to the
requirements of the Securities Exchange Act of 1934, the Registrant
has duly caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.
Date: 18
October, 2016
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By:___/s/
Juliusz Komorek____
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Juliusz
Komorek
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Company
Secretary
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