Ryanair post impressive profits
They’re the budget airline that almost everyone has an opinion about, but Ryanair have just announced some pretty heft profits in their latest set of results. There’s a net annual profit of £348 million, a 26% rise in the past 12 months but as usual Sky Captain Michael O’Leary has got something to grumble about.
He says that shareholders needn’t expect another big leap in profits next year thanks to the price of fuel and a lack of extra growth in capacity. Which could mean another year of hare-brained ideas like the toilet tax being mooted as the Sky Captain tries to dream up more ways of squeezing the fiscal pips out of passengers.
"Higher fares will only help us to finance higher fuel and rising sector length related costs, and accordingly, we expect profit after tax for [full-year 2012] to be similar to the [full-year 2011] result of 400 million euros," he said in a statement, possibly while drawing a picture of a plane that operates in the same way as Fred Flintstone’s car…