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Strategic European investment drives profits at Ryanair

Ryanair has reported growth in its three KPIs - customers, revenue and profit for the first quarter of 2015.

The low cost airline saw customers increase 16% from 24.3 million to 28 million for the period ending 30 June 2015.

The Dublin-headquartered operator saw pre-tax profit rise to €277.8m from €234.6m on the previous year.

As for revenue, Ryanair reported an increase of 10% to €1,653m as its balance sheet remains “one of the strongest in the industry.”

Ryanair’s 6th German base in Berlin is set to open in September, where the airline has a 5% share of the German market.

Gothenburg (the 2nd Swedish base) will also open in September. In November, Israel will become the airline’s 31st country served when flights start to Eilat Ovda Airport from Budapest, Kaunas and Krakow.

Ryanair’s Michael O’Leary said: “We are pleased to report strong growth in traffic and profits in Q1. Our mix of low fares, best on time performance (91% in Q1) and enhanced customer experience under our “Always Getting Better” (“AGB”) programme, continues to attract millions of new customers.

“At the same time our focus on cost (Q1 unit costs fell 7%) enables us to pass on lower fares to customers. Q1 average fare fell 4% to just €45, due to the timing of Easter, weaker April yields and lower checked bag penetration as more families and business customers enjoy discounts on their luggage or benefit from our free 2nd carry-on bag policy.”

This was posted in Bdaily's Members' News section by Ellen Forster .