Michael O'Leary - Chief Executive Officer, Executive Director, Member of Nomination Committee, Member of Executive Committee, Chief Executive Officer of Ryanair Limited and Director of Ryanair Limited Neil Sorahan - Howard Millar - Chief Financial Officer and Deputy Chief Executive Analysts Eamonn Hughes - Goodbody Stockbrokers Neil Glynn - Crédit Suisse AG Andrew Light - Citigroup Inc Gerard Moore - Merrion Stockbrokers Ltd. Jonathan Wober - Societe Generale Cross Asset Research Peter Hyde - Liberum Capital Limited James Parker - Raymond James & Associates, Inc. Tim Marshall - Redburn Partners LLP Brian Devine - NCB Group Limited Stephen Furlong - Davy Bob McAdoo - Avondale Partners, LLC Geoff van Klaveren - Deutsche Bank AG Joe Gill - Bloxham Stockbrokers Jarrod Castle - UBS Investment Bank PresentationOperator Good day, and welcome to the Ryanair Q1 Results Conference Call. Today's conference call is being recorded. At this time, I would like to turn the conference over to Michael O'Leary. Please go ahead, sir. Michael O'Leary Okay. Good afternoon, ladies and gentlemen. You're all very welcome to the Ryanair Q1 results call. I'm here with my colleagues in Dublin. Howard Millar is joining us on force [ph] at the moment on the mobile phone from London, but we'll push on. As you have seen, the results this morning are on the website, the Investor page and the homepage. This morning, we announced Q1 net profit of EUR 139 million, a slight increase of 1% on Q1 last year. Revenues were up 29% to EUR 1.15 billion, as traffic increased 18% and average fare rose 11%. Unit costs rose by 40% due to a 49% increase in fuel costs. Excluding fuel, sector length adjusted unit costs fell by 1%.