"businessworld" : Ryanair looks to cut fares and expand after record profit General, news for Ireland, Ireland,Tourism,Transport,
That will see its average fares fall by around 5 percent over the key summer months, likely putting pressure on rivals. "I take comfort from the fact that we can increase profit in a year where fares fall by 13%," Chief Executive Michael O'Leary told analysts. In the coming year, Ryanair is set to slow the pace of capacity growth to around 8%, or 10 million seats, and expects ticket prices to fall by 5-7%. Ryanair, Europe's largest airline by passenger numbers, has helped drive down short-haul ticket prices in Europe by increasing its capacity by 33%, or about 30 million seats, in the past two years. Ryanair announced a record annual profit on Tuesday in a vindication of its strategy of cutting fares to boost market share, and said it would turn up the heat further on rivals.
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That will see its average fares fall by around 5 percent over the key summer months, likely putting pressure on rivals. "I take comfort from the fact that we can increase profit in a year where fares fall by 13 percent," Chief Executive Michael O'Leary told analysts. DUBLIN Ryanair (RYA.I) announced a record annual profit on Tuesday in a vindication of its strategy of cutting fares to boost market share, and said it would turn up the heat further on rivals. Ryanair, Europe's largest airline by passenger numbers, has helped drive down short-haul ticket prices in Europe by increasing its capacity by 33 percent, or about 30 million seats, in the past two years. Brexit could also force some British investors in Ryanair to sell their stakes as EU airlines must be majority owned by EU nationals.
Ryanair, Europe's largest airline by passenger numbers, has helped drive down short-haul ticket prices in Europe by increasing its capacity by 33% in the past two years. Chief executive Michael O'Leary said fares had fallen 13% but profitability had doubled over three years. The Irish airline made a profit after tax of €1.3bn (£1.1bn) in the year to the end of March, even though it slashed ticket prices to fill almost 14m seats added during the period. Its warning to competitors came as British Airways was counting the cost of its huge IT failure last weekend that left 75,000 passengers stranded. Chief executive Michael O'Leary says profitability doubled over three years even though fares were reduced by 13%Ryanair announced a record annual profit on Tuesday in a vindication of its strategy of cutting fares to boost market share, and said it planned to turn up the heat further on rivals.
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collected by :Jack Luxor
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Ryanair looks to cut fares and expand after record profit
That will see its average fares fall by around 5 percent over the key summer months, likely putting pressure on rivals. "I take comfort from the fact that we can increase profit in a year where fares fall by 13 percent," Chief Executive Michael O'Leary told analysts. DUBLIN Ryanair (RYA.I) announced a record annual profit on Tuesday in a vindication of its strategy of cutting fares to boost market share, and said it would turn up the heat further on rivals. Ryanair, Europe's largest airline by passenger numbers, has helped drive down short-haul ticket prices in Europe by increasing its capacity by 33 percent, or about 30 million seats, in the past two years. Brexit could also force some British investors in Ryanair to sell their stakes as EU airlines must be majority owned by EU nationals.
Ryanair makes £1.1bn profit despite cutting fares
Ryanair, Europe's largest airline by passenger numbers, has helped drive down short-haul ticket prices in Europe by increasing its capacity by 33% in the past two years. Chief executive Michael O'Leary said fares had fallen 13% but profitability had doubled over three years. The Irish airline made a profit after tax of €1.3bn (£1.1bn) in the year to the end of March, even though it slashed ticket prices to fill almost 14m seats added during the period. Its warning to competitors came as British Airways was counting the cost of its huge IT failure last weekend that left 75,000 passengers stranded. Chief executive Michael O'Leary says profitability doubled over three years even though fares were reduced by 13%Ryanair announced a record annual profit on Tuesday in a vindication of its strategy of cutting fares to boost market share, and said it planned to turn up the heat further on rivals.
read more visit us profit
collected by :Jack Luxor
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