Ryanair has reported a 55% rise in profit after tax for its first financial quarter to €397 million, but pressed that this had been “distorted” by the timing of Easter – there being no holiday period in the prior year.
Traffic grew 12% to 35 million, with the airline citing its lower fares and Always Getting Better customer satisfaction improvement programme as contributing factors.
Ryanair said the cost gap between it and competitor airlines continues to widen and it delivered a 6% unit cost reduction in quarter one as its fuel bill fell despite a 12% increase in traffic.
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