Europe's biggest airline profits nearly 10 times higher as airfare rise defies expectations
Europe's biggest airline profits nearly 10 times higher as airfare rise defies expectations
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Profits at Europe's biggest airline are nearly ten times higher than the same time last year as more passengers paid more expensive airfares. Ryanair's profit after tax rose to €149m (£125.36m) in the three months from October to December, up from €15m (£12.62m) the same time a year earlier.
Money blog: Dentist reveals how you can earn up to £150k. It is in part due to pricier tickets with customers booking closer to departure time, the low-cost carrier said, despite its forecast fares would fall. In August Ryanair chief executive Michael O'Leary told Sky News he estimated fares would drop a further 5% coming into winter.
Please use Chrome browser for a more accessible video player. Fares had fallen 15% in the first three months of Ryanair's financial year and 7% in the second. Bucking the trend, the airline on Monday morning said fares rose 1% in the months running up to Christmas.
Ryanair suing 'disruptive passenger' for causing flight to divert. Ryanair sees profits dive after challenging summer. Boeing to meet union in bid to end crippling two-week strike. Those higher fares were attributed to "stronger close-in Christmas/New Year bookings".
Despite the fact tickets became more expensive, passenger numbers rose 9%, reaching 45 million. Follow our channel and never miss an update. However, the airline has slashed its passenger forecast once again, blaming aircraft delivery delays from Boeing.
