Record profits for Ryanair
Ryanair has posted record net profits of E268.9 for the year ending March 31, a 19% jump on the previous 12 months.
The no frills carrier also saw a similar rise in passenger volume with 27.6 million people travelling with the airline in the last 12 months. Ancillary revenue increased 40%
Yields increased 2% with margins falling 1% to 20%, a decline reflecting higher fuel costs.
Ryanair chief executive Michael O’Leary said the results paved the way for another successful year.
“We continue to budget for higher oil prices but anticipate these higher costs will be partially offset by a slightly more benign yield environment,” he added.
The airline has already bought 75% of next winter’s fuel to move any uncertainty from the business, O’Leary said.
Underlining the airline’s confidence, passenger growth forecasts have risen from 34 million – a 23% rise on this year – to 35 million.
Report by Steve Jones
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