Ryanair’s profits increase 32%

Ryanair will expand its distribution
Ryanair’s passenger traffic grew 4%

Ryanair has seen its profits rise 32% to EUR795 million for the first half of the year.

The Irish carrier grew its passenger numbers by 4% to 51.3m in the six months with the average fare up 5% and total revenues rising 9% to EUR3.5 billion.

A stronger Easter and its customer programme were attributed to a rise in load factor, which jumped 4% to 89%.

This was also cited as the reason behind a rise in forward bookings with those for December-March 2015 up 5% year-on-year.
Ryanair chief executive Michael O’Leary also said it was ‘pleasantly surprised’ at the ‘rapid uptake’ of its family and business products launched earlier this year.

“We are pleased to report this significant increase in H1 profits.  While partially due to the presence of Easter in Q1 and a weak prior year comparable, we have also enjoyed a strong summer thanks to our strategy of raising forward bookings and improving our customer experience which has delivered higher load factors and yields,” said the airline’s chief executive Michael O’Leary.

“Our customers are finding it easier to locate and book our lowest fares on our improved website, while our new responsive mobile app has been downloaded more than 3m times in just six months.”

As a result of the strong H1 the airline has raised its growth objectives with traffic set to grow 12% in Q3 and 20% in Q4, while average fares will fall between 3-5%.

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