RYANAIR’S PROFITS FELL by eight per cent last year, the airline said this morning, but was still ahead of previous targets at €523 million.
The number of passengers the “cheap flights” airline carried in the last financial year grew 3 per cent to 81.7 million, with total revenue generated just over €5 billion.
Costs fell by 3 per cent, excluding fuel.
The airline now aims to grow passenger numbers by 4 per cent next year to 84.6 million, with an increase in profits of between €580 million to €620 million.
It’s also expecting load factors to increase 2 per cent with new routes and capacity on certain flights.
However, caution is being aired on targets set for the winter season due to a weak price environment last year, with a reduction in its winter grounding fleet from 70 to 50.
It also targets a 2 per cent fare increase, compared to a fall of 4 per cent in the last financial year.
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Ryanair has recently launched a drive to create a more streamlined experience for customers booking online, as well as attempting to change its image to a more ‘customer friendly’ airline.
The next four years will see the airline receive 180 new aircraft.
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