Ryanair has announced a 17% increase in half year Profit to €452m. Revenues rose 23% to €2.2bln as traffic grew by 10% to 40.1m passengers and average fares rose by 12%. Unit costs rose by 13% (excluding fuel they rose by 4%) as sector length increased by 12%.
Announcing these results Ryanair’s CEO, Michael O’Leary, said: “A 17% increase in half year Net Profit to €452m is testimony to the robustness of Ryanair’s lowest cost\lowest fare model which continues to deliver traffic and profit growth even during a deep recession. We continue to gain market share across Europe from the big three high fare flag carrier groups led by Air France, BA and Lufthansa. We expect this trend to continue as consumers switch to Ryanair for the lowest fares, the most on time flights, and the best customer service.
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