Ryanair profits up
Ryanair has announced a 20% increase in half year profits, making a pre-tax profit of 544m euros.
The airline’s results compare to 451.9 million euros pre-tax profit for the six months to September last year.
As a result, the airline expects to make a 10% higher annual profit than previously predicted.
Revenues rose 24% to €2.7bn to September 30, 2010, traffic grew 12% and average fares increased 13%.
Unit costs rose 13% due mainly to longer sectors and a 37% increase in fuel costs.
Ryanair’s CEO, Michael O’Leary, said: “We are pleased to report a 20% increase in the half year net profits to €544m.
"This is a testament to the strength of Ryanair’s lowest fare/lowest cost model which delivered robust traffic and profit growth despite, significantly higher oil prices, and an economic downturn in Europe.
“The 13% rise in average fares (which includes optional baggage fees) is due to slower growth, a better mix of new routes and bases, as well as rising competitor fares/fuel surcharges."
The airline also called for the UK Competition Commission to speed up the sale of Stansted.
In a statement it said: “Since 2007 Stansted airport charges have doubled to pay for a 2nd runway project which has now been abandoned.
“The UK Competition Commission must end these interminable delays and judicial reviews and expedite the early sale of Stansted to allow competition to deliver lower costs, and improved customer service, where Ferrovial’s high prices at Stansted and the CAA’s “inadequate” regulatory/regime has failed.”
By Diane Evans
Diane
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Phocuswright reveals the world's largest travel markets in volume in 2025
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Singapore to forbid entry to undesirable travelers with new no-boarding directive
Euromonitor International unveils world’s top 100 city destinations for 2025