Ryanair has doubled its profit to €103m

Ryanair has announced that its profits increased by an impressive 110% in the third quarter of 2015, up to €103 million from €49 million in the same period in 2014.

The airline’s passenger numbers grew by 20% to 24.9 million, and average fares fell by 1% to €40. Ryanair expects fares to drop by 6% this quarter.

The company said revenues increased by 17% from €1.13 billion to €1.33 billion in the same period.

CEO Michael O’Leary will certainly be laughing his way to the bank. With some of the cheapest airfares out there and with many now picking them as their first choice for flights, we can only image the company is set to grow even bigger over the next few years.

 

About Rachel Lynch

Rachel Lynch
Journalist with InTallaght.

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