Ryanair to slash fares after profits dip
STANSTED-based budget airline Ryanair has promised to continue to slash fares despite announcing a fall on profits today.The airline made an adjusted after-tax profit of 35 million euros (about £26 million) in the period October-December 2007 - 27 per cent down on the same period in 2006.
STANSTED-based budget airline Ryanair has promised to continue to slash fares despite announcing a fall in profits today.
The airline made an adjusted after-tax profit of 35 million euros (about £26 million) in the period October-December 2007 - 27 per cent down on the same period in 2006.
But in a warning that will cause concern amongst Suffolk residents campaigning against the increase in flights over the county, chief executive Michael O'Leary said: "There can be only one competitive response to any consumer uncertainty, and that is for Ryanair to slash fares and yields, stimulate traffic, encourage price-sensitive consumers, and promote new routes/base developments.'
Ryanair reported that revenue had increased 16pc to 569 million euros (about £426 million) in the October-December 2007 period, while passenger numbers had risen 21pc to 12.4 million.
You may also want to watch:
Mr O'Leary said the net profit figure for the last three months of last year was “a creditable performance in very adverse market conditions”.
The Ryanair boss once again expressed his anger at charges for airlines that use Stansted and Dublin airports.
Most Read
- 1 Kieron Dyer in hospital undergoing tests
- 2 Asda and Amazon urgently recall items due to safety concerns
- 3 'It was gut wrenching' - Mum's Covid message after son, 12, hospitalised
- 4 60-acre logistic park off A14 approved
- 5 Unex starts work at former Ipswich Debenhams store
- 6 Man admits exposing himself to women in park near Felixstowe
- 7 A14 reopens after HGV crashes into central reservation
- 8 Anger at 'death trap' road in Pinewood
- 9 Rail services affected after person hit by train
- 10 High winds close Ipswich festival event temporarily
He said unit costs in the last three months of last year had risen “due to the unjustified doubling of airport charges at the Stansted airport monopoly, significantly higher charges at the even less competitive Dublin airport monopoly”.
