Ryanair announce €1.24 billion in profits

It’s been a good year for Ryanair CEO Michael O’Leary as his company announced today with the airline reporting a 43% jump in full year profits.

The airline have reported a profit of €1.24 billion to the end of March, up from €867 million during 2015. The airline also noted the amount of passengers that passed through their doors last year amounting to a staggering 106 million. The news in January reported that that Ryanair had become the first airline to break the 100 million mark for passengers flown in a calendar year seems to have been just the start of the good fortune.

The rise and rise of the budget airline has also seen boosts in a number of other key areas, with its revenue increasing from €5.65 billion up to €6.53 billion, and a 48% increase on the amount earned on each of its shares.

The airline’s load factor – the percentage of seats filled per flight – also rose by 5% up to 93%. Love them or hate them there is no doubting that Ryanair are the taking over the aviation world.

About Rachel Lynch

Rachel Lynch
Journalist with InTallaght.

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