Ryanair 2010 Annual Report Download - page 89

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The following table sets forth the components of ancillary revenues earned by Ryanair and each
component expressed as a percentage of total ancillary revenues for each of the periods indicated:
Fiscal Year ended March 31,
2009 2008
(in millions of euro, except percentage data)
Non-flight Scheduled .................. 1425.8 71.2% 1334.6 68.5%
Car Rental ................................... 132.2 5.4% 125.3 5.2%
In-flight Sales.............................. 183.2 13.9% 173.3 15.0%
Internet-related............................ 156.9
9.5% 154.9 11.3%
Total............................................ 1598.1
100.0% 1488.1 100.0%
Operating Expenses. As a percentage of total revenues, Ryanair’s operating expenses increased from
80.2% in the 2008 fiscal year to 96.9% in the 2009 fiscal year, reflecting the fact that operating expenses grew at
a significantly faster rate than revenues. In absolute terms, total operating expenses increased 30.9%, from
12,176.7 million in the 2008 fiscal year, to 12,849.4 million in the 2009 fiscal year, principally as a result of the
increase in booked passenger volume and the 15.2% increase in the number of sectors flown, which were
reflected in increases in fuel expenses, route charges, staff costs, route and airport charges and handling charges.
The increase in operating expenses also reflected the adverse impact of significantly higher jet fuel prices in
U.S. dollars that were only partially offset by the strength of the euro against the U.S. currency, as well as an
increase in depreciation and amortization expenses related to aircraft disposals. Depreciation, amortization,
maintenance, aircraft rental and other expenses also increased, while marketing and distribution costs decreased.
Total operating expenses per ASM increased by 15.4%, with the slower rate of growth reflecting the increase in
passenger capacity (as measured in ASMs) during the 2009 fiscal year.
The following table sets forth the amounts in euro cents and percentage changes of Ryanair’s
operating expenses (on a per ASM basis) for the fiscal years ended March 31, 2009 and March 31, 2008 under
IFRS. These data are calculated by dividing the relevant expense amount (as shown in the consolidated financial
statements) by the number of ASMs in the relevant year as shown in the table of “Selected Operating and Other
Data” in Item 3 and rounding to the nearest euro cent; the percentage change is calculated on the basis of the
relevant figures before rounding.
Fiscal Year
Ended
March 31,
2009
Fiscal Year
Ended
March 31,
2008 % Change
Staff Costs.............................................................................. 0.66 0.69 (4.9)%
Depreciation and Amortization .............................................. 0.54 0.40 35.0%
Fuel and Oil............................................................................ 2.67 1.91 39.4%
Maintenance, Materials and Repairs ...................................... 0.14 0.14 3.4%
Aircraft Rentals...................................................................... 0.17 0.18 (5.5)%
Route Charges........................................................................ 0.61 0.63 (3.0)%
Airport and Handling Charges ............................................... 0.94 0.96 (1.8)%
Marketing, Distribution and Other ........................................ 0.32 0.33 (3.0)%
Total Operating Expenses ...................................................... 6.05 5.24 15.4%
Staff Costs. Ryanair’s staff costs, which consist primarily of salaries, wages and benefits, decreased
4.9% on a per-ASM basis, while in absolute terms, these costs increased 8.4%, from 1285.3 million in the 2008
fiscal year to 1309.3 million in the 2009 fiscal year. This increase in absolute terms was primarily attributable to
a 21.0% increase in average headcount to 6,369 and a 13.8 million charge for share options granted to eligible
employees. Employee numbers rose due to the growth of the business.
Depreciation and Amortization. Ryanair’s depreciation and amortization per ASM increased by 35.0%,
while in absolute terms these costs/increased 45.6% from 1176.0 million in the 2008 fiscal year, to 1256.1