Partly Cloudy

Partly Cloudy

max temp: 23°C

min temp: 12°C

ESTD 1874 Search

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.

shares

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.

shares

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

Stephen Rose, SSE head of offshore wind generation

The man tasked with ensuring the smooth operation of a £1.6bn windfarm off the Suffolk coast has explained the challenges of overseeing 140 turbines capable of powering half-a-million homes and the contractual “crossroads” his firm faces next year.

Students at UCS in Interior Architecture and Design, have been taking part in a design competition to design an entrance canopy for the St Edmunds House apartments in Rope Walk.
Ross Carroll, director of Crown House Homes, left, with course tutor Dr Liana Psarologaki, and Annali Hubbard of Palmer & Partners estate agents, and some of the course students, Elliott Jones, Bryony Briggs, Dan Hutton, Amy Schuller and Michelle Villar

Apartment developers hold a design competition with university students

A member of staff at N2S bagging up scrap computer components ready for further destruction and recycling.

A Suffolk-based computer equipment lifecycle management company is celebrating after achieving accreditation allowing it to work at the highest level of Government.

Culture Secretary John Whittingdale, left, visiting Ipswich company IJYI.

Culture Secretary John Whittingdale has urged more small and medium-sized businesses in and around Ipswich to sign up to a scheme which provides the funding for the infrastructure they need to get fast broadband connections.

Post Office

The Post Office in a Suffolk town is moving to new premises, and will offer longer opening hours.

Dame Fiona Kendrick:, chief executive of Nestlé  UK & Ireland

Food giant Nestlé has announced plans to close its defined benefit pension scheme, sparking the threat of industrial action.

The Treasury has sold another 1% stake in Lloyds Banking Group.

The taxpayers’ stake in Lloyds Banking Group has fallen to below 16% after the Government sold off another tranche of shares.

The installation of solar panels on the roof of Precision Marketing Group's premises in Lamdin Road, Bury St Edmunds

A Suffolk-based firm will be among the organisations taking part in a nation-wide celebration of solar energy tomorrow.

Candy Gaga'’s Wanda Hewell, right, and daughter, Cherish.

Tower Ramparts in Ipswich now has its very own castle – thanks to the success of a local sweet shop business.

Stansted Airport

A report into the future of Britain’s airports does not rule out a second runway at Stansted – and raises fears of extra night flights to the Essex airport.

Most read

Most commented

Topic pages