Ryanair posts record profits

Ryanair posts record profits

While the airline companies worldwide are posting terrible revenue figures with some even going bankrupt, Ryanair has surprised the market watchers. The airline operates in European region and has reported record first-quarter results on Tuesday. They have also said that they are still gaining business from rival airlines imposing fuel surcharges. However, they have also shown consciousness towards growing costs and challenges from competitors.

Ryanair posted profit rise of 21 percent to 64.4 million euros for the three months to end-June. Markets had expected this figure to be around 54.4 million. Revenues grew by 35 percent to 404.6 million euros. The airline also reported a massive growth in the traveling passengers, which stood at 8.5 million passengers… An increase of around 30%.

They are the biggest of the budget airlines in the region and have been favored by the traveling customers around the continent. They hope that the extra surcharges levied in the name of increasing fuel prices should drive more traffic to them in the coming days and they should be doing better business in the coming times. The company has however kept their yearly expected revenue figures unchanged.

Chief Executive Michael O’Leary said in a statement: “However, further terrorist attacks in London could have a downward impact on passenger volumes and yields. Although at this early stage we see no reason to revise our guidance”.