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23/05/2011
Ryanair Profits Exceed €400
Budget airline Ryanair has today announced a 26% increase in their annual profits to €401m.
The high-flying airline operates from City of Derry airport in NI and only recently left George Best Belfast City airport and flies from Cork, Dublin, Kerry, Knock and Shannon in the Irish Republic
Announcing the results Ryanair's Chief Executive Officer, Michael O'Leary, said: "The highlights of the past successful year for Ryanair include: 40 new aircraft; eight new bases in El Prat, Gran Canaria, Kaunas, Lanzarote, Malta, Seville, Tenerife, Valencia; 328 new routes; a dividend of €500m; and traffic also grew 8% to 72m."
Despite higher oil prices, the global recession, and volcanic ash disruptions in the first quarter of last year, Ryanair delivered a 26% increase in profits and 8% traffic growth.
In 2010, following a 27% hike in fees, Dublin airport traffic fell by 3m passengers to just over 18m, a fall of 30% from its 2007 peak of 24.5m. Dublin’s traffic continued to decline in 2011.
However, Ryanair said unless the new Government introduces new reforms then traffic at the DAA airports will continue to fall, leading to further tourism and job losses in the Irish economy.
They welcomed the Irish Government's recent decision to scrap the tourist tax as a step in the right direction, but unless accompanied by competitive airport charges, traffic growth will not return at the Government owned, high cost, Irish airports.
(BMcN/BMcC)
The high-flying airline operates from City of Derry airport in NI and only recently left George Best Belfast City airport and flies from Cork, Dublin, Kerry, Knock and Shannon in the Irish Republic
Announcing the results Ryanair's Chief Executive Officer, Michael O'Leary, said: "The highlights of the past successful year for Ryanair include: 40 new aircraft; eight new bases in El Prat, Gran Canaria, Kaunas, Lanzarote, Malta, Seville, Tenerife, Valencia; 328 new routes; a dividend of €500m; and traffic also grew 8% to 72m."
Despite higher oil prices, the global recession, and volcanic ash disruptions in the first quarter of last year, Ryanair delivered a 26% increase in profits and 8% traffic growth.
In 2010, following a 27% hike in fees, Dublin airport traffic fell by 3m passengers to just over 18m, a fall of 30% from its 2007 peak of 24.5m. Dublin’s traffic continued to decline in 2011.
However, Ryanair said unless the new Government introduces new reforms then traffic at the DAA airports will continue to fall, leading to further tourism and job losses in the Irish economy.
They welcomed the Irish Government's recent decision to scrap the tourist tax as a step in the right direction, but unless accompanied by competitive airport charges, traffic growth will not return at the Government owned, high cost, Irish airports.
(BMcN/BMcC)
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