Partly Cloudy

Partly Cloudy

max temp: 21°C

min temp: 18°C

ESTD 1874 Search

The pigs have arrived. See the latest

Pigs Gone Wild

news here.

UK/Stansted: Ryanair profits down 8%

10:37 19 May 2014

Ryanair Chief Executive Michael O

Ryanair Chief Executive Michael O'Leary

Ryanair said customer service was improving “rapidly” as the budget airline looks to recover from its first drop in annual profits in five years.

Post-tax profits were 8% lower at 523 million euro (£426.5 million) in the year to March 31 after a price war left average fares 4% lower at a time of rising fuel costs.

Chief executive Michael O’Leary described the performance as disappointing but said efforts since September to reinvent Ryanair’s image and reputation helped passenger traffic rise 4% in the second half of the year. It has also seen better booking trends and fuller planes in the current year.

Changes have included the relaxation of bag restrictions for passengers, a reduction in baggage charges and an easing of booking conditions.

The airline, which operates more than 1,600 routes from 68 bases, has also moved to fully allocated seating on all flights, meaning that passengers who do not pay five euro (£4.10) to select their seats will be allocated them during the 24 hours prior to the date of departure.

The company expects to fly 84.6 million passengers in the year to March 31 - a 4% rise on a year earlier - although it remains “very cautious” about booking trends for the winter period.

Overall, the airline is predicting a recovery in profits for the current year to between 580 million euro (£473 million) and 620 million euro (£505.6 million). Over the next five years, the airline plans to grow to more than 110 million customers a year.

1 comment

  • Ryanair are still the most annoying and frustrating airline I have ever used. I and my family have been loyal customers for many years but no more. Even though I have to go miles out of my way I have booked 4 more further flights with another airline! It's the last trick you will ever play on us Mr O'Leary Patricia Marcus

    Report this comment

    Patricia

    Monday, May 19, 2014

The views expressed in the above comments do not necessarily reflect the views of this site

Barclays chief executive Jes Staley.

Banking giants will dominate reporting this week, with the City looking out for any Brexit concerns when Barclays and Lloyds deliver their half-year results.

An artist's impression of the new look planned for the former BBC Television Centre bulding in the White City area of west London.

Mildenhall-based English Architectural Glazing (EAG) has won a major contract to carry out work as part of the multi-million-pound regeneration of the former BBC Television Centre in London.

Laurence Johnson and Daniel Le Sauvage of Urban Vintage in Framlingham.

An award-winning independent men’s fashion retailer from Suffolk is celebrating its new store opening today with special offers and free drinks.

Sizewell C

Proposals to build a new £16billion nuclear power station on the Suffolk coast will move a step closer next week.

Alex Till, chief executive of Menta, left, with John Baxter, managing director of eAlliance Learning Technology which has formed an online learning partinership with the enterprise agency.

Suffolk-based business support organisation Menta has launched a new online learning partnership to help busy entrepreneurs develop their skills.

HOT JOBS

Show Job Lists

Most read

Most commented

Topic pages

Streetlife

Newsletter Sign Up

Sign up to the following newsletters:

Great British Life

Great British Life
MyDate24 MyPhotos24