Ryanair profits up, says fares will fall

CEO: “If there is a fare war in Europe, Ryanair will win”
Low-cost carrier Ryanair expects its average fare to decline by 7% this year, it said today after posting a 43% increase in full-year net profit to €1.2 billion, slightly less than industry analysts had forecast.
Revenues for the full year to the end of March rose 16% to €6.5 billion. Prices will be further cut to boost market share as competition intensifies, said chief executive Michael O’Leary.
“If there is a fare war in Europe, then Ryanair will be the winner,” he said.
Negative hits on the airline’s fortunes in the fourth quarter came through the Brussels terror attacks as well as lower fares due to falling oil prices, the carrier said. It uses what it calls a ‘load factor active/yield passive’ model, meaning that it cuts fares by as much as necessary to keep its planes full. Despite this, it expects profit for 2017 to rise by 13%.
BBC

x

Check Also

Ryanair’s cabin baggage rules change

Passengers no longer able to carry two cabin bags on board

Billund Airport looks ahead to busy 2018

Western Danish airport smashes new records for 2017

Danish tech assists Bergen Airport

Airport to leverage technology to ease passenger waiting times

Lufthansa beats Ryanair as Europe’s top airline

Lufthansa Group as a whole carried 130 million passengers in 2017

TORP, Sandefjord, lufthavn, airport, passengers, rise, increase, Rygge, low-cost, Ryanair, power, Oslo

Oslo Torp: 35% more passengers

Record year for Oslo’s second airport

Swede becomes AccorHotels Europe CFO

Maria Larsson comes from global competitor Starwood