Ryanair Holdings plc's (RYAAY) CEO Michael O'Leary on Q3 2019 Results - Earnings Call Transcript

Feb. 04, 2019 4:36 PM ETRyanair Holdings plc (RYAAY)
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Ryanair Holdings plc (NASDAQ:RYAAY) Q3 2019 Results Earnings Conference Call February 4, 2019 5:00 AM ET

Company Participants

Michael O’Leary - Chief Executive Officer

Neil Sorahan - Chief Financial Officer

David O’Brien - Chief Commercial Officer

Conference Call Participants

Daniel Roeska - Bernstein

Jarrod Castle - UBS

Savi Syth - Raymond James

Duane Pfennigwerth - Evercore

Stephen Furlong - Davy

James Hollins - Exane

Damian Brewer - RBC

Ruxandra Doser - Cheuvreux

Kathryn Leonard - Numis

Mark Simpson - Goodbody

Gerald Khoo - Liberum Capital

Neil Glynn - Credit Suisse

Johannes Braun - Mainfirst

Alex Paterson - Investec

Malte Schulz - Commerzbank


Hello. And welcome to the Ryanair Third Quarter FY ‘19 Results Call. Throughout this, all participants will be in listen-only mode, and after, there will be a question-and-answer session. Just to remind you, this is being recorded.

So, today, I am pleased to present, Michael O’Leary, Chief Executive; and Neil Sorahan, CFO. Please begin.

Michael O’Leary

Okay. Good morning, ladies and gentlemen. Welcome to the Ryanair Q3 results conference call. I am here with management team in Dublin and Neil is joining us from London where he was doing the PR this morning.

As you will see, all of the results were released this morning on the website at 7 o’clock. We have an MD&A tele or a video with MD&A on that, which should address much of the questions that might arise.

A couple of quick themes, while they -- the €20 million loss in Q3 was disappointing, we take considerable comfort that all of it was due to weaker than expected airfares. There isn’t a cost issue here, but lower prices is good for our current and for our future traffic growth, bad for our competition. Ancillary revenues have performed strongly in the quarter, up 26% all -- and this helped us to offset higher fuel, higher staff cost

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