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05/08/2003
Record profits and passenger numbers at Ryanair
Ryanair today announced record traffic up 45% to 5.1 million and profit growth of 12% for the quarter ended June 30.
Total revenues rose by 26%, operating costs rose by 29%, after tax margins declined from 20% to 18%, while Adjusted Net Profit increased by 12% to a record €43.8 million.
However, yields declined by five points to 78% and by 14% to €41.71 due to the launch of 50 new routes and two new bases (Milan-Bergamo and Stockholm-Skavsta) and also the weakness of Sterling to the euro.
At a press conference in London today, chief executive Michael O'Leary said: "These record quarterly results reflect the continuing success right across Europe of Ryanairs low fares formula.
"During what BA last week described as the most testing period in aviation history, we continue to drive down airfares, reduce costs, but at the same time deliver increased profits and exceptional margins."
Yesterday, Ryanair announced that it had become the first European low fares airline to carry more than two million passengers in one month, with 2.04 million carried in July 2003.
(GMcG)
Total revenues rose by 26%, operating costs rose by 29%, after tax margins declined from 20% to 18%, while Adjusted Net Profit increased by 12% to a record €43.8 million.
However, yields declined by five points to 78% and by 14% to €41.71 due to the launch of 50 new routes and two new bases (Milan-Bergamo and Stockholm-Skavsta) and also the weakness of Sterling to the euro.
At a press conference in London today, chief executive Michael O'Leary said: "These record quarterly results reflect the continuing success right across Europe of Ryanairs low fares formula.
"During what BA last week described as the most testing period in aviation history, we continue to drive down airfares, reduce costs, but at the same time deliver increased profits and exceptional margins."
Yesterday, Ryanair announced that it had become the first European low fares airline to carry more than two million passengers in one month, with 2.04 million carried in July 2003.
(GMcG)
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Northern Ireland WeatherToday:A chilly start with a widespread frost and some freezing fog, any freezing fog slow to clear. Otherwise bright with sunny spells and coastal showers. Light winds. Maximum temperature 6 °C.Tonight:Coastal showers dying out with a widespread frost developing along with freezing fog, which could become extensive. Winds remaining light. Minimum temperature -3 °C.
