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Ryanair’s profits jumped 40 per cent between April and September following significant fare increases at Europe’s largest airline, as healthy demand prompted it to nudge up its passenger forecasts for the rest of the year.
Revenues at the budget airline increased 13 per cent to €9.82bn in the first half of its financial year, compared with the same period last year. Ryanair benefited from the timing of the Easter holiday, which fell into the first quarter of its financial year. Pre-tax profits rose to €2.89bn.
Ryanair increased its passenger forecast for the year to 207mn, up slightly from its previous forecast of 206mn, after strong demand and the earlier than expected delivery of some of its long-awaited Boeing 737 Max 8 aircraft.
The new planes will allow Ryanair to “selectively” add capacity during the October half term break, and into the busy Christmas and New Year period. The airline had previously flagged that growth this year would slow because of late aircraft deliveries from Boeing.
Ryanair said that bookings for the coming quarter, including over Christmas, were slightly ahead of last year.
This is a developing story.
