The check-in queue for Ryanair increases |
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Tue, 02 Aug 2005 10:20
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Ryanair, Europe’s largest no frills low cost airline saw net profits soar by 21% to hit £44m in the quarter ending June 30 and also took increased number of people on board that resulted in a 35% rise in its sales.
However, Ryanair, with feet on the ground, acknowledge that it cannot anticipate similar or better results based on the present figures for the remaining part of the year as it was still doubtful of fuel prices and the chances of more terrorist attacks in London.
| The airlines recorded very few bookings after the recent London blasts on July 7 and July 21 and “further terrorist attacks in London could have a downward impact on passenger volumes and yields”, as said by Ryanair’s chief executive, Michael O'Leary.
With 8.5 million passengers in the quarter, Ryanair traffic rose 30% compared with the higher fares of some airlines like British Airways, Deutsche Lufthansa and Air France-KLM. These factors had contributed considerably to the increased figures.
Meanwhile, fuel costs also leapt up in the first quarter by a whopping 112% and struck 109.9 mln euros. Nevertheless, Ryanair said that it was not a cause for worry, as other cuts in expenses would compensate the hefty oil price levels.
The airline further anticipates that 35 million people will use Ryanair planes in the coming year and if it succeeds in achieving that target, then O'Leary estimates that Ryanair will exceed British Airways in the total number of passengers taken aboard.
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