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10/06/2002
Ryanair reveal record yearly profits
Low-cost airline, Ryanair has revealed record profits in its latest yearly financial report.
The company made 172 million euros in the past financial year compared with 123 million euros in the previous 12 months while passenger numbers increased by 38% to 11.1 million.
This is in sharp contrast to British Airways, which two weeks ago reported its biggest loss since privatisation.
Commenting on the figures, Ryanair's chief executive, Michael O'Leary, said: "This is another set outstanding financial results from Ryanair despite the impact on the airline sector of both the foot and mouth outbreak in the UK and the tragic events of September 11 in the United States."
Mr O'Leary also attacked German competitor Lufthansa who, he said, predicted a lack of interest in his company's offers by the German market. He added: "German consumers love a bargain and now that there is a real choice over Lufthansa's high fares."
He also dismissed the suggestion that the merger between rivals easyJet and Go would make the market tougher for Ryanair.
Mr O'Leary said all three low-cost carriers were competing with the high fare carriers, such as BA and Lufthansa, but at the lower end of the market, easyJet and Go didn't really compete with Ryanair because they were trying to be a slightly lower fare carrier at the main airports.
(MB)
The company made 172 million euros in the past financial year compared with 123 million euros in the previous 12 months while passenger numbers increased by 38% to 11.1 million.
This is in sharp contrast to British Airways, which two weeks ago reported its biggest loss since privatisation.
Commenting on the figures, Ryanair's chief executive, Michael O'Leary, said: "This is another set outstanding financial results from Ryanair despite the impact on the airline sector of both the foot and mouth outbreak in the UK and the tragic events of September 11 in the United States."
Mr O'Leary also attacked German competitor Lufthansa who, he said, predicted a lack of interest in his company's offers by the German market. He added: "German consumers love a bargain and now that there is a real choice over Lufthansa's high fares."
He also dismissed the suggestion that the merger between rivals easyJet and Go would make the market tougher for Ryanair.
Mr O'Leary said all three low-cost carriers were competing with the high fare carriers, such as BA and Lufthansa, but at the lower end of the market, easyJet and Go didn't really compete with Ryanair because they were trying to be a slightly lower fare carrier at the main airports.
(MB)
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Ryanair Flies Low
The budget airline Ryanair - which flies from two bases in Northern Ireland - has revealed financial returns showing a major nosedive in operating profits. Ryanair plunged into the red by €169.2 million (£145.9m) in the year to March after being hit with a 59% hike in its fuel bill.
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The budget airline Ryanair - which flies from two bases in Northern Ireland - has revealed financial returns showing a major nosedive in operating profits. Ryanair plunged into the red by €169.2 million (£145.9m) in the year to March after being hit with a 59% hike in its fuel bill.
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Ryanair's ‘Buzz’ brings Belfast route closer
Ryanair could be operating from Belfast International Airport (BAI) following the announcement that it has bought over KLM's Buzz for €23.9 million – or just over £15 million. Buzz currently operates a network of 21 routes from London Stansted to points in Germany, Holland, France and Spain, as well as two French domestic routes.
Ryanair's ‘Buzz’ brings Belfast route closer
Ryanair could be operating from Belfast International Airport (BAI) following the announcement that it has bought over KLM's Buzz for €23.9 million – or just over £15 million. Buzz currently operates a network of 21 routes from London Stansted to points in Germany, Holland, France and Spain, as well as two French domestic routes.
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Northern Ireland WeatherToday:It will be cloudy again throughout the day. Mainly dry in the morning, but patchy drizzle in places, becoming more widespread and persistent in the afternoon. Freshening southwesterly winds. Maximum temperature 12 °C.Tonight:Cloudy with a spell of heavy rain pushing south through late evening and the early hours, followed by some clear spells. Minimum temperature 6 °C.
