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

Laudamotion, Ryanair, buy, M&A, airlines, Austria, aviation, business, option, EU

Laudamotion, Ryanair and Lufthansa in dispute over aircrafts

The Austrian based Laudamotion and 25 percent owned by Ryanair is arguing with German giant Lufthansa over aircrafts not delivered after Air Berlin bankruptcy.

Ryanair, pilots, strike, Ireland, Forsa, union, management, talks, cancel, flights, July, UK

Ryanair pilots to strike despite talks

The walkout is being done by the carrier’s Irish-based pilots who are directly employed by the airline.

Ryanair, strike, dates, July, cabin crew, flights, attendants, demands, pilots, Spain, Italy, Portugal, Belgium, countries

Ryanair cabin crew reveal strike dates

Unions representing the low-cost carrier’s employees in four European countries announce strikes in late July.

Montpellier-Méditerranée Airport, european commission, investigation, ryanair

EU to investigate Ryanair airport deal

The European Commission has “concluded on a preliminary basis” that the deal involved illegal state aid.

Ryanair, strike, VC, Germany, pilots, agreement, talks, countries, airline, low-cost, Ireland, Sweden

Ryanair pilot strike to go ahead

Pilots vote to strike in Ireland, and other European countries – including Sweden – could follow.

Ryanair, strike, VC, Germany, pilots, agreement, talks, countries, airline, low-cost, Ireland, Sweden

German pilots to vote on Ryanair strike

The powerful German union Vereinigung Cockpit says talks have broken down and strikes could happen from August.