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Ryanair third quarter profits up 30%
Higher fares and baggage charges helped Ryanair offset a 52% increase fuel charges and grow its net profits by 30% in the third quarter.
Average fares, including the new baggage charges introduced in March, rose 7%, allowing the airline to achieve net profit of €48m (£31.6m) in the three months to December 31.
Meanwhile, passenger numbers grew to 10.3 million, 19% higher than the same three months in 2005.
To reflect the latest growth, Ryanair has revised its full-year forecast to €390m (£257m), claiming that fourth-quarter earnings will benefit from weaker oil prices and a 25% jump in passenger numbers .
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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