Ryanair plans rapid growth as profit rises 37%

First airline in EU to carry more than 10mn pax in a month
Posting a 37% rise in half-year pre-tax profit to €1.23 billion today, Ryanair says it expects to have 180 million passengers a year within 10 years as it plans further growth – 20 million more than its earlier target. It forecasts 105 million for 2015.
Passenger numbers for the six months to September 30 rose 13% to 58.1 million, boosting revenues to a little over €4 billion, up 14%. The airline claims its full 2015 profits will be close to €1.225 million.
Load factor rose by four percentage points to 93%. Ryanair became the first airline in the EU to carry more than 10 million passengers in a month in July.
Savings on unhedged fuel, messages about improving customer service and poor weather in northern Europe all contributed to the result.
There may be a price war in 2016, chief executive Michael O’Leary predicts, as “in recent weeks we have seen most airlines reduce their prices”.


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