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Dublin: 13 °C Thursday 23 October, 2014

€569 million – Ryanair’s profit for last year up 13%

The airline reported the profits despite higher fuel costs, which represents 45 per cent of the companies total costs.

Image: Chris Radburn/PA Wire

RYANAIR HAS REVEALED a full year profit after tax of €569 million, up 13 per cent on last year.

Revenue rose by 13 per cent to €4.88 billion to the end of March 2013.

Passenger numbers were also up by five per cent to 79.3 million, which the low-cost carrier said helped lead to the profit increase.

The airline reported the profits despite higher oil costs, up by 8 per cent, and an increase in fuel unit costs which rose by 3 per cent, while the average fare improved by 6 per cent. Fuel now represents a 45 per cent of the companies total costs.

Seven new bases were opened by the carrier last year – Chania in Greece, Eindhoven and Maastricht in the Netherlands, Fez in Morocco, Krakow in Poland, Marrakech in Morocco and Zadar in Croatia.

It also started to travel to 217 new routes to now give a total of over 1,600 routes and has a total fleet of 305 after buying 15 new aircrafts last year.

Ryanair’s Michael O’Leary welcomed the profit announcement but said they were disappointed that the European Commission in February 2013 decided to prohibit Ryanair’s third offer for Aer Lingus.

Read: As Norwegian PM boycotts Ryanair, O’Leary insists staff not treated like slaves>

More: On the up: Aer Lingus passenger figures increase in March>

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