Ryanair increases profits by over 200%, airfares to rise
Sweet muscular Jesus - nine figures of good news from the world of Sky Marshall O'Leary; Ryanair has just reported a 204 per cent increase in full-year profits of €319 million. Passenger numbers have risen 14 per cent on last year, while revenue rose 2 per cent.
The results don't cover flights cancelled and delayed by volcanic ash, which Ryanair estimates cost them 50 million Euros. Not to worry, Ryanair shareholders - the Sky Marshall is pressing ahead with plans to sue a number of European governments and demand a change to the regulations on compensating passengers.
Ryanair is predicting 11 per cent growth in the year ahead and profits to rise by 10 to 15 per cent. As for shareholders, they'll be receiving a one-off €500 million pay-out, worth about 34¢ per share. On the downside, the budget airline is also stating it'll increase airfares by between 5 and 10 per cent over the next year. Boo.