Ryanair posts bumper profits for 2016
Ryanair has reported full year profits of €1,242m, a 43 percent increase on the prior year.
Traffic grew 18 percent to 106 million while load factor jumped five percent to 93 percent. Fares dropped 1 percent to €46 as unit costs fell six percent in year 2.
Ryanair’s Michael O’Leary, said “FY16 was a year in which we delivered significant traffic and profit growth in all 4 quarters (despite an ave. oil price of $90bbl as a consequence of hedges put in place in 2014) as our AGB service programme is attracting millions of new customers to our lowest fare/lowest cost model.”
The airline also took delivery of 41 new B737 aircraft last year, facilitating the expansion of the low fare/low cost services into more primary airports and routes.
From this, 7 new bases in Belfast, Berlin, Corfu, Gothenburg, Ibiza, Milan (Malpensa) and Santiago were added over the last 12 months.
“We opened more than 100 new routes as we became the first airline ever to carry over 100m international customers in a calendar year,” O’Leary added.
Ryanair’s AGB programme success was reflected in record traffic and load factors, over the past 2 years load factors improve from 83 percent to 93 percent as traffic grew. This can be attributed to improved schedules and customer choice as the airline grew in more primary airports.
Email the Travel Weekly team at traveldesk@travelweekly.com.au
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