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Profits 12% up for Ryanair
Ryanair has reported a 12% rise in profits to £208 million, despite a 74% increase in fuel costs.
Passenger numbers for the year to March 31 grew by 26% to 35 million, while revenues grew 28% to £1.16bn.
Ryanair said it was confident passenger numbers would grow by 20% to around 42 million next year but predicted profits would only rise by 5%-10%, depending on what happens with oil prices.
It said the cost of launching new routes and tough competition on price would also curb profit growth this year.
But the airline claimed online check-in and charging for luggage was helping to offset these costs.
It claims that on some flights over half of the passengers are now checking in online and using its priority boarding facility.
And it said passengers were now taking less baggage because of new charges.
Ryanair is planning to offer mobile phone services and internet gambling on board its flights in 2007, and expects this to grow revenues.
Chief executive Michael O’Leary said Ryanair’s refusal to levy fuel surcharges on fares was also helping it attract customers.
By Bev Fearis
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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