Ryanair has reported a 29 per cent fall in profits in new statistics released today. The Irish carrier, owned by Michael O’Leary, reported a full year profit of €1.02billion (excluding Lauda). They detailed a seven per cent boom in passenger traffic to 139million. There was a six per cent increase in revenue because of this.
Yet their findings made it clear the success had been “offset” by a six per cent decline in fares.
Ryanair’s Michael O’Leary said: “As previously guided, Ryanair (excl. Lauda) reports a full year after tax profit of €1.02billion.
“Short-haul capacity growth and the absence of Easter in Q4 led to a 6% fare decline, which stimulated seven per cent traffic growth to over 139million (142m guests incl. Lauda).
“Ancillary sales performed strongly up 19% to €2.4billion, which drove total revenue growth of six per cent to €7.6billion.”
The average price of a Ryanair flight fare fell six per cent, to a purse-friendly €37.
Yet what do today’s findings mean for Britons
