Sign in. It’s quick, free and it’s up to you.
An account is an optional way to support the work we do. Find out more.
Ryanair boss Michael O'Leary Mark Stedman/Photocall Ireland
O'Leary
Ryanair profits stumble with 8 per cent fall - but that's still ahead of target
The airline recorded a profit of €523 million, with a total revenue of €5 billion.
RYANAIR’S PROFITS FELL by eight per cent last year, the airline said this morning, but was still ahead of previous targets at €523 million.
The number of passengers the “cheap flights” airline carried in the last financial year grew 3 per cent to 81.7 million, with total revenue generated just over €5 billion.
Costs fell by 3 per cent, excluding fuel.
The airline now aims to grow passenger numbers by 4 per cent next year to 84.6 million, with an increase in profits of between €580 million to €620 million.
It’s also expecting load factors to increase 2 per cent with new routes and capacity on certain flights.
However, caution is being aired on targets set for the winter season due to a weak price environment last year, with a reduction in its winter grounding fleet from 70 to 50.
It also targets a 2 per cent fare increase, compared to a fall of 4 per cent in the last financial year.
Click here to see a larger version of this table.
Ryanair has recently launched a drive to create a more streamlined experience for customers booking online, as well as attempting to change its image to a more ‘customer friendly’ airline.
The next four years will see the airline receive 180 new aircraft.
have your say