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Ryanair CEO Michael O'Leary AP Photo/Richard Drew

Ryanair says it's probably going to make a €600 million profit this year

Ryanair’s profits dropped by 21 per cent in the first three months of this year – but the airline said

RYANAIR’S PROFITS DROPPED in the first three months of this year –  but the airline says it is still on track to make an overall profit this year of €600 million.

The airline said today that its profits between January and March this year fell by 21 per cent to €78 million, which it had anticipated due to rising fuel costs and the timing of Easter this year.

The number of passengers grew by just over 3 per cent to 23.2 million in the first three months of the year. Ryanair’s overall revenue was €1.3 billion.

Fuel made up almost half of the company’s total operating costs: Ryanair spent €577 million on fuel for its airlines – an increase of 6 per cent.

Shareholders at Ryanair recently approved an order for 175 Boeing 737-800 airplanes which will be delivered between September 2014 and December 2018, which the airline said will allow it to increase its forecasts for passenger numbers.

On the controversial issue of Ryanair’s stake in Aer Lingus, which it has been attempting to increase in recent years, the airline said it expects the Competition Commission in the UK to force it to sell most, if not all, of it’s 29.8 per cent stake in the airline. Ryanair heavily criticised the Competition Commission for what it said were “bogus future concerns” based on “some baseless or invented claim that competition in the future ‘might’ be lessened”.

Ryanair boss Michael O’Leary said the company plans to announce more new routes and more new bases later this year.

The company said it expects its traffic to grow to 81.5 million in total this year and that its full year profit forecasts remains at between €570 million and €600 million.

Read: Ryanair offers to sell Aer Lingus stake to another EU airline >

Read: Michael O’Leary’s second-in-command at Ryanair to step down >

Read: 13 people who fill you with rage when you’re taking a flight >

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68 Comments
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    Mute Jon Mackey
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    Mar 5th 2016, 7:18 AM

    Says quite a lot about the Irish electorate and their short term memory

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    Mute Vladimir Vasyectomy
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    Mar 5th 2016, 7:09 AM

    ” back at the top table.” = ” back at the trough.”

    192
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    Mute hw007
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    Mar 5th 2016, 7:18 AM

    I reckon Fianna Fáil will break all promise s again !

    106
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    Mute Liz Finn
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    Mar 5th 2016, 7:23 AM

    Well they’ve done just that at least twice before so I reckon it’s a safe bet hwoo7.

    62
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    Mute Daz
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    Mar 5th 2016, 7:38 AM

    THE GOOD TIMES ARE BACK BABY. WHAT COULD GO WRONG

    100
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    Mute Mick Hannigan
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    Mar 5th 2016, 7:46 AM

    If you always do what you have always done you will always get what you always had and that’s what we have done, voted back in idiots who helped cause all our problems in the first place, I call them idiots more like we the people are idiots

    83
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    Mute Pauline Long
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    Mar 6th 2016, 12:23 AM

    Yes ” madness is doing the same thing over and over and expecting different result?s” Einstein

    3
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    Mute Les Behan
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    Mar 5th 2016, 9:27 AM

    This election proved something I have been saying for years now : “The Irish electorate are a bunch of fickle mush heads.”

    60
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    Mute Nick Caffrey
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    Mar 5th 2016, 10:58 AM

    I wish I could give you one thousand green thumbs. It is the ELECTORATE that puts these greedy pigs in power. We ALONE are responsible for the state of the country. We resent any kind of taxation in spite of the fact that it is how we provide infrastructure. We just cannot let go of the “oppressive taxation” memories.

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    Mute Iúrach
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    Mar 5th 2016, 7:20 AM

    Do they each get their own gravy boat?

    53
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    Mute Jimmy jones
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    Mar 5th 2016, 9:46 AM

    Michael Martin is the main player and he was a Bertie underling.

    How come nobody mentions the developer Owen O Callaghan any more and how his “donation” ended up in Micheal Martin’s wife’s bank account ?

    http://www.broadsheet.ie/2011/02/11/so-why-did-that-money-end-up-in-your-wifes-account-mr-martin/

    46
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    Mute john kinsella
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    Mar 5th 2016, 10:33 AM

    I wonder what Owen O’ Callaghan would call a water company if one just in his lap?

    13
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    Mute Rowan Murphy
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    Mar 5th 2016, 7:09 AM

    Posed as an innocuous article. Teeing up the shot and walking away.

    44
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    Mute John Ward
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    Mar 5th 2016, 8:20 AM

    It seems that the IQ of our “cute hoor” professional politicians is significantly higher than the bulk of the electorate. The average here is 92. Just think what kind of vegetables actually have a vote!

    41
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    Mute tomas o beag
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    Mar 5th 2016, 8:33 AM

    Smug f***kers people have very short memories

    35
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    Mute Cally
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    Mar 5th 2016, 9:41 AM

    Maybe its just me but the worst result was ryan getting back in…already he was on primetime…supporting water charges…they cant help themselves with trying to tax people..the greens…no chance of saving our planet but boy can they tax you…

    23
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    Mute Mary Walshe
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    Mar 5th 2016, 9:15 AM

    But they (FF) did a great job in Government for themselves…they lined their own pockets with as much of the countrys money as they could grab before going out of office and told the rest of us to grin and bear it when the countrys cupboard was bare…obviously they have got the scent of money again now that the recovery is underway.

    22
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    Mute Tommy Berry
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    Mar 5th 2016, 4:31 PM

    No, the cupboard wasn’t bare , the Bert was inside it.

    9
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    Mute Mary Walshe
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    Mar 5th 2016, 9:05 AM

    The Foxes are back in the henhouse…financial blood will be spilled and lost again and we the electorate will live to regret the result of the 2016 election should FF form a government or even hold a minority government to ransom.

    18
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    Mute Paul Wallace
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    Mar 5th 2016, 9:08 AM

    They are back and back BIG STYLE

    17
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    Mute Paul Dunne
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    Mar 5th 2016, 8:47 AM

    ff would and will do it all again beacuse they think they did a great job in government.

    16
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    Mute John Campbell
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    Mar 5th 2016, 9:05 AM

    Don’t be worrying too much. They were elected by a core vote of Old Fianna Fáil voters. They have 44 seats out of 158. They are snookered whichever choice they make , liquorice all sorts coalition or propping up a minority government. Why? Because they will have to support tough decisions for the good of the country NOT the Party and they will not have a free hand on stuffing every State and semi-State body with Party hacks.

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    Mute Winston Smith
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    Mar 5th 2016, 10:45 AM

    Five years for treason with a lush pension. Where would you get it. If our Litigation laws weren’t so strict we could all be reminded more stringently through the media before elections of the Candidates past performances.

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    Mute Ivorpabst
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    Mar 5th 2016, 3:34 PM

    Callely should have had a go – he would have made it, given the national amnesia which returned the likes of Haughey etc.

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    Mute Seán Domhnall O'Sullivan
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    Mar 5th 2016, 11:22 PM

    Completely embarrassing and cringe worthy for Ireland.

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    Mute Aisling Farrell
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    Mar 5th 2016, 8:33 PM

    Another Haughey. God help us.

    3
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