Ryanair 2011 Annual Report Download - page 83

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year. There was a one-percentage-point increase in booked passenger load factors from 82% in the 2010 fiscal
year to 83% in the 2011 fiscal year.
Passenger capacity (as measured in ASMs) during the 2011 fiscal year increased by 18.5% due to the
addition of 40 Boeing 737-800 aircraft (net of disposals), as well as a 7.8% increase in sectors flown and a 9.9%
increase in the average length of passenger haul. Scheduled passenger revenues accounted for 77.9% of
Ryanair’s total revenues for the 2011 fiscal year, compared with 77.8% of total revenues in the 2010 fiscal year.
Ancillary revenues. Ryanair’s ancillary revenues, which comprise revenues from non-flight scheduled
operations, in-flight sales and Internet-related services, increased 20.8%, from 1663.6 million in the 2010 fiscal
year to 1801.6 million in the 2011 fiscal year, while ancillary revenues per booked passenger increased to
111.12 from 19.98. Revenues from non-flight scheduled operations, including revenues from excess baggage
charges, debit and credit card transactions, sales of rail and bus tickets, accommodations, travel insurance and
car rental increased 16.3% to 1574.2 million from 1493.5 million in the 2010 fiscal year. Revenues from in-
flight sales increased 16.4%, to 1100.7 million from 186.5 million in the 2010 fiscal year. Revenues from
Internet-related services, primarily commissions received from products sold on Ryanair.com or linked
websites, increased 51.5%, from 183.6 million in the 2010 fiscal year to 1126.7 million in the 2011 fiscal year.
The rate of increase in revenues from all ancillary revenue categories exceeded the increase in overall
passengers booked.
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,
2011 2010
(in millions of euro, except percentage data)
Non
-
flight Scheduled
..................
1574.2
71.6%
1493.5
74.4%
In-flight Sales .............................. 1100.7 12.6% 186.5 13.0%
Internet
-
related
............................
1126.7 15.8% 183.6 12.6%
Total ............................................ 1801.6
100.0% 1663.6 100.0%
Operating expenses. As a percentage of total revenues, Ryanair’s operating expenses remained
unchanged at 86.5% in the 2011 fiscal year as compared to the 2010 fiscal year, as the impact of the increase in
total revenues was offset by a corresponding increase in operating expenses. In absolute terms, total operating
expenses increased 21.5%, from 12,586.0 million in the 2010 fiscal year to 13,141.30 million in the 2011 fiscal
year, principally as a result of a 37.3% increase in fuel costs from 1893.9 million in the 2010 fiscal year to
11,227.0 million in the 2011 fiscal year. Staff costs, depreciation and amortization maintenance expenses,
aircraft rental expenses, route charges, airport handling charges and marketing, distribution and other costs
decreased as a percentage of total revenues, while fuel and oil increased. Total operating expenses per ASM
increased by 2.5%, with the increase reflecting, principally the increase in passenger capacity (as measured in
ASMs) during the 2011 fiscal year and the impact of the higher fuel costs.
The following table sets forth the amounts in euro cent of, and percentage changes in, Ryanair’s
operating expenses (on a per-ASM basis) for the fiscal years ended March 31, 2011 and March 31, 2010 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.