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Ryanair reports fares down, revenues up

Monday, 27 July 20153 min read

Ryanair has announced 2015 first quarter profits of €245 million, up 25%.

The airline carried 28 million passengers in the three months to 30 June, an increase of 16%. Revenue was up 10%.

Load factor increased 6% points to 92%, while average fares fell 4% to €45.

Meanwhile, Reuters reports chief executive Michael O’Leary has called on rival airlines to work together to cut out price comparison sites, by displaying each other’s lowest fares.

In a video statement, O’Leary said: "I think it is something the big airlines could and should work together on because I think it makes no sense for third-party price comparison websites out there.

"If the airlines were competitive and had a competent digital offering, those kind of websites shouldn’t exist."

The airline has closed its two Danish bases, in Copenhagen and Billund, and will open a 6th German base, in Berlin, in September.

Also in September, a second Swedish base, in Gothenburg, will open.

Israel will become the 31st country served when Ryanair starts flying to Eilat Ovda Airport from Budapest, Kaunas and Krakow in December.