Ryanair 2009 Annual Report Download - page 172

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22 Earnings per share
At March 31,
2009 2008 2007
Basic (losses) / earnings per ordinary share (in Euro cents)
........................
(11.44) 25.84 28.20
Diluted (losses) / earnings per ordinary share (in Euro cents)
.....................
(11.44) 25.62 27.97
Number of ordinary shares (in 000’s) used for EPS
Basic ................................................................................................
..........
1,478,472 1,512,012 1,544,457
Diluted (a) ................................................................................................
..
1,478,472 1,524,935 1,557,503
______________
(a) Details of share options in issue have been described more fully in Note 15 to the consolidated financial statements.
Basic earnings per ordinary share (EPS) for Ryanair Holdings plc for the years ended March 31, 2009,
March 31, 2008 and March 31, 2007 has been computed by dividing the (loss) / profit attributable to
shareholders by the weighted average number of ordinary shares outstanding during the year.
Diluted earnings per share takes account solely of the potential future exercise of share options granted
under the Company’s share option schemes. For the 2009 fiscal year, there was no difference in the weighted
average number of ordinary shares used for the basic and diluted net loss per ordinary share, as the effect of all
potentially dilutive ordinary shares (2,750,554 outstanding) was anti-dilutive. For the 2008 fiscal year the
weighted average number of shares in issue of 1,524,935,266 (2007: 1,557,502,826) includes weighted average
share options assumed to be converted equal to 12,923,650 (2007: 13,045,390).
23 Commitments and contingencies
Commitments
In January 2002, the Company entered into a contract with Boeing (the “2002 Boeing contract”)
whereby the Company agreed to purchase 100 new Boeing 737-800 “next generation” aircraft, and received
purchase rights to acquire a further 50 such aircraft. The 2002 Boeing contract was superseded by a contract
entered into with Boeing in January 2003 (the “2003 Boeing contract”) whereby the Company agreed to
purchase 125 new Boeing 737-800 “next generation” aircraft, thus adding “firm” orders for 22 aircraft to the
existing “firm” orders (100 “firm” orders, plus three options exercised) under the 2002 Boeing contract. In
addition, the Company acquired purchase rights over a further 78 aircraft, bringing the number of option aircraft
to 125.
In February 2005, the Company entered into another contract with Boeing (the “2005 Boeing
contract”) whereby the Company agreed to purchase 70 new Boeing 737-800 “next generation” aircraft and
acquired additional purchase rights to acquire a further 70 such aircraft over a five-year period from 2006 to
2012. The aircraft to be delivered after January 1, 2005, arising from the 2002 and 2003 Boeing contracts,
benefit from the discounts and concessions under the 2005 Boeing contract. In addition, the orders for the 89
“firm” aircraft still to be delivered at January 1, 2005 and the remaining additional purchase rights in respect of
123 aircraft granted under the 2002 and 2003 Boeing contracts are governed by the 2005 Boeing contract from
January 2005.
In August 2006 the Company exercised 32 options under the 2005 contract whereby it increased its
“firm” aircraft deliveries by this amount during fiscal 2009 (22) and 2010 (10).
In April 2007 the Company exercised 27 options under the 2005 contract whereby it will increase
“firm” aircraft deliveries during fiscal 2010.
In June 2008, the Company exercised three options with Boeing under the terms of its 2005 contract.
These “firm” Boeing 737-800 aircraft will be delivered in fiscal 2011.
In September 2008, the Company exercised four options with Boeing under the terms of its 2005
contract. These “firm” Boeing 737-800 aircraft will be delivered in fiscal 2011.