The low-cost carrier saw operating profit increase to €306.8 million for the three months to June 30, compared with a profit of €288.4 million during the same quarter last year.
Over the same period, Ryanair’s revenue rose by 2% from €1.65 billion last year to €1.69 billion, as passenger numbers went up by 11% to 31.2 million passengers.
Ryanair chief executive Michael O’Leary said that load factor during the quarter improved by two percentage points to 94%, as average fares fell by 10% to just under €40.
The airline also benefited from lower fuel costs – falling by €42 million or 7% to €518 million for the quarter.
Ryanair boosts profit as fares fall
Air
Rob Gill
25 July 2016
Ryanair’s operating profit has risen by 6% despite the impact of terrorist attacks and air traffic control strikes around Europe.
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