Ryanair Net Profit Soars By 43%

Ryanair has posted an annual net profit of €1.2bn ($1.3bn), marking a 43 per cent year-on-year rise.

Ryanair has posted an annual net profit of €1.2bn ($1.3bn), marking a 43 per cent year-on-year rise.

In results for the financial year ending March 31, 2016, the Irish low-cost carrier said that its annual revenues increased 16 per cent to €6.5bn ($7.2bn) following a jump in passenger traffic which saw the airline carry a record 106.4 million passengers during the year.

However, the carrier said it was impacted in Q4 following incidents including the Brussels terrorist attacks and multiple air traffic control strikes in Europe.

Looking forward to 2017, Dublin-based Ryanair forecast an annual profit rise of 13 per cent with increased passenger numbers offsetting a drop in fares of around seven per cent, which were a result of fuel savings.

TAGS: Europe
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