Ryanair reports sky high profits

Despite rocketing fuel costs and the eurozone recession, Ryanair has pulled record profits of more than €0.5bn out of the bag.

by Rebecca Burn-Callander
Last Updated: 19 Aug 2013
By launching 330 new routes, increasing traffic by 5% to 76 million passengers and, of course, squeezing every last penny out of travellers, the airline has notched up revenues of €4.3bn and profits of €503m. That’s 25% more profit than last year.

Compared to its closest rival, budget airline easyJet, it’s quite the result. Stelios’ outfit managed to cut first-half losses to £112m, but it’ll need to have one hell of a summer to get back into the black. Ryanair, however, has managed to fill the £360m hole created by extra fuel costs with a 16% rise in fares.

Nevertheless, the group is quick to follow its record results announcement with a warning about the coming year. ‘Recession, austerity, currency concerns and lower fares at new and growing bases in Hungary, Poland, provincial UK and Spain will make it difficult to repeat this year’s record results,’ reads the company statement. It forecasts annual profits of between €400m and €440m for the year to the end of March 2013.

Despite this year’s recession-defying profit increase, Ryanair doesn’t pass up the opportunity to indulge in a spot of government bashing. ‘Many of Europe’s governments continue to treat aviation (and airline passengers) as a cash cow to fund their taxation and/or policy failures,’ it says. Of course, Ryanair has never been accused of taking its customers for a ride…

Let’s not mention this weekend’s balls-up, for example. The Ryanair website was closed for ‘essential maintenance’, making online check-in unavailable and forcing many passengers to pay fees of €60 to get on their flights.

And we’ll definitely forget about those proposed fees for using the onboard loo (less ‘spend a penny’, more ‘spend €2’) or those ‘standing seats’ that O’Leary’s been so keen on over the past few years…

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