Ryanair announced full year profits of €319 million after tax, an increase of 204 percent over last year’s €105 million profit.

Published: 02 Jun 2010

Ryanair announced full year profits of €319 million after tax, an increase of 204 percent over last year’s €105 million profit.

Revenues rose two percent to €2,988m. Air fares fell 13 percent while traffic grew 14 percent to 67m.

Ancillary revenues grew by 11 percent to €663.6m, lower than the increase in passenger volumes, due to a decline in average spend per passenger primarily due to lower excess baggage revenues, and the negative impact of the movement in euro/sterling exchange rates. Total revenue per passenger as a result decreased by 11 percent, whilst the Load Factor increased by 1 point to 82 percent during the year.

Fuel costs declined 29 percent to €894m.

The airline shared that capacity cuts by many European flag and non flag carriers caused traffic to fall at many major European airports.

“We are inundated with offers from large and small airports competing with lower costs and efficient facilities to win Ryanair’s growth. Our airport and handling unit costs fell by 9 percent despite steep increases at Dublin and Stansted. New routes and bases launched this year will ensure that despite a scandalous (up to) 40 percent increase in charges at Dublin airport, our airport and handling unit costs will decline again in FY11,” stated the airline.