Ryanair sees profits soar from ‘bumper summer’
Ryanair has seen half year profits rise by 37% to €1,088m as it says full year profits should be at the top of its predictions.
The low cost airline reported that traffic was up 13% to 58m in the half year to September 30 as it claimed to be the first EU airline to carry over 10m customers in one month, which it did in July.
It said it still saw significant growth opportunities for its lower fares and had therefore raised its full year traffic target from 104m to 105m customers.
It now predicts 180m customers per year in the next decade.
Full year net profit should be towards the upper end of the predicted €1,175m to €1,225m range, it added.
Ryanair’s CEO, Michael O’Leary, said: "We have enjoyed a bumper summer due to a very rare confluence of favourable events including stronger sterling, adverse weather in northern Europe, reasonably flat industry capacity and further savings on our unhedged fuel."
This winter Ryanair will open 4 new bases (Berlin, Corfu, Gothenburg & Milan) this winter as it takes delivery of 28 new Boeing 737 aircraft.
It said customers were finding it easier to book on its new ‘personalised’ website which allows it to target customers with offers for hotels, car hire, restaurants and other services.
Diane
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