Ryanair profits continue to rise.
This week Ryanair, one of the World’s most successful low-cost airlines, announced record profits once again. According to the press release published on the Ryanair website, net profits in 2005 rose to €302m, some €7m ahead of previous expectations. Passenger numbers grew by a tremendous 26% to 35m passengers.
And although fuel costs rose by 74% last year, Ryanair’s overall unit costs only rose by 5% enabling after tax profits to rise by 12% and average yields increased by 1%, despite an increase in capacity of 27%.
According to declarations made by Ryanair’s Chief Executive, in 2005 Ryanair operated 330 routes with 103 aircraft, and the withdrawal of the company’s remaining B737-200’s aircraft reduced the average age of Ryanair’s fleet to 2½ years, the youngest in Europe.
Ryanair has announced 46 new routes and 1 new base for the remainder of 2006, and the compnay expects traffic to grow by 20% to 42m passengers.
30 aircraft will be added to the Ryanair fleet between September 2006 and April 2007.
Ryanair flies passengers to 14 Spanish destinations from varios airports in Britain, Ireland and other European countries.