Ryanair increases profits by over 200%, airfares to rise

1 June 2010

Bitterwallet - Michael O'Leary is considerably richer than youSweet 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.

TOPICS:   Travel   Economy

8 comments

  • Gunn
    Are they the only airline making money?
  • Rolly
    Nice to see O'leary making some money, he seems like such a nice guy.
  • The B.
    Perhaps he can employ all of the BA staff when they go bankrupt.
  • Spark
    I doubt most BA staff are polite or resourceful enough to work on Ryanair to be honest.
  • smashingnicey
    He's a total genius. Does he care if anyone loves him? Course not, he's rolling in it. Only Mother O'Leary can save us now. Go on, slap the twat Mother O'Leary. He's made a buck but you made a mmooooooonnnnnnssssssttttteeeerrrrr. He needs to do a Dominoes Pizza and give it all up and join a commune.
  • kev
    people might knock the sky marshall, but if it weren't for him, we'd probably still be paying £100 for EVERY flight and I agree with him on the compensation thing, it's rediculous for an airline to have to pay hundreds of pounds to put a passenger up in a hotel because of something that they have no control over, especially when the passenger is often only paying a tenner odd for the flight. is that no what travel insurance is for?
  • zeddy
    Does the Sky Marshall's Ryanair insurance cover against volcanoes erupting?
  • (jah) w.
    N, it isn't what insurance is for. Check out the force majeure/act of god clause. It is the responsibility of the carrier, whether the flight is £10 or £1000. If he can't operate in those conditions then he needs to look at his business model. (but from the posted profits the business model he is using can easily cover "acts of god").

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