Record year for Ryanair's revenue

This year has been good to Europe's largest budget airline. Ryanair recently announced its after-tax profits for the first half of 2007, revelling in a record year.

In the first half of 2007, the Irish airline declared an after tax profit of £408 million, an increase of 24 per cent over the same period last year.

In addition, traffic on the airline grew by 20 percent. The airline had to battle higher unit costs this year with fuel prices rising, airport fees increasing and increased cabin crew ratios, but it still managed to come out with one of the highest profit margins in the industry.

One of Ryanair's largest sources of income have been from ancillary sales. This year, ancillary revenue was recorded at £252 million, an improvement of 54 per cent over last year. Sales from car hire, travel insurance and hotels improved this year as did revenue from excess baggage charges and on-board sales.

For the future, CEO Michael O'Leary announced: Our in-flight mobile phone service will be tested on 25 aircraft before the end of March 2008 which will allow passengers to make and receive calls and texts on their mobile phones and blackberrys.



 


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Jennifer Jones Editorial


05/11/2007


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