Ryanair’s quarterly profit soars

The Dublin-based airline said on its website that pre-tax profit rose to €930.2 million from €400.8 million a year earlier, partly as passenger traffic rose 4 percent to 57.9 million from 55.5 million, and average fares rose 21 percent to €51. Profit after tax jumped to €819.9 million from €360 million.

The company’s quarterly revenue rose 20 percent to €4.34 billion from €3.63 billion. Passenger revenue rose 26 percent to €2.94 billion, while ancillary revenue – including extras such as priority boarding and baggage fees – rose 7 percent to €1.39 billion.

Operating profit more than doubled, from €365.7 million to €913.3 million. Operating costs rose 5 percent to €3.42 billion.

Ryanair maintained its 3 percent forecast for passenger growth this year to 206 million, but noted that Boeing is still behind schedule with aircraft deliveries. It expects to almost fully recover last year’s 7 percent average fare decline, but the company warned that the outlook for the second half of the year remains uncertain.