In the financial year ending 31March, Low cost airline Ryanair recorded a net profit of 867 million euros, representing a 66% increase on the previous year, when it recorded just 523 million euros.
The Irish airline justified this improvement with their "the lowest cost model program ‘Improving Always’ (‘Always Getting Better’) that has attracted millions of new customers to the brand.
The airline increased its revenue by 12%, to 5.654 million euros, and increased its passengers by 11% to over 90.6 million, up from 81.7 million the previous fiscal year.
Fuel costs were down 1% to 1,992 million euros while handling and airport charges increased by 15%, to EUR 712.8 million.
This, the airline said was planned in advance and due to new routes and airport hubs.
Spending was increased in marketing and distribution (+ 21%), to 233.9 million euros, followed by maintenance costs (+ 16%), to 134.9 million euros. Operating profit stood at 1,042.9 million euros, 58.3% more than in the previous year, when it reached 658.6 million euros.
As a result of their continued success and expansion programme the group has ordered 183 new Boeing B737-800 aircraft due to be delivered by 2018 and 200 further aircraft between 2019-2023. The company expects to make further savings in the next two years amid falling oil prices.
Filed under: http://www.theleader.info/article/47457/
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