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Updated at 4pm
RYANAIR EXPECTS TO make a net profit of over €1.1 billion this year.
The bumper take is 25% higher than Ryanair previously expected with the airline saying that customers are now paying more for a seat than they had previously.
A bad summer in northern Europe also meant that more people were flying south for sun, leading to a 15% Q3 rise in passengers for the summer months.
The airline says that its average fares for the first half of the year are 2% higher than last year while their planes were, on average, 95% full in July and August.
This performance means that Ryanair have now increased their profit guidance for the year from up to €970 million to up to €1.2 billion.
Ryanair CEO Michael O’Leary says that the good summer for the airline has continued into September with the company bringing forward their trading update as a result.
He says their ‘always getting better’ policy of customer service is also helping:
During a year when Ryanair will grow traffic by more than 13 million customers per annum, it’s clear that consumers all over Europe are delighted by and are switching to, our “always getting better” customer experience programme.
O’Leary does acknowledge that they have “clearly benefited” from the poor weather in parts of Europe and a relatively strong sterling that has been “encouraging more UK families to holiday in the Med.”
The company cautioned that their full results are obviously dependent on their performance towards the end of the year.
They say their fares will be driven down on average as they attempt to gain a greater foothold in the German market, a key growth target for the airline.
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Well done Ryanair. Keep up the good work!
He’s some operator. He should be running the country but would never get re-elected as he’d be too straight talking. It’s surprising how many people fall for the politicans lies every time.
You see this is the foolish view that populates Ireland. O’Leary can produce the profits because he can circumvent employment law. If he ran your life you might find you get unpaid leave in winter and no holiday pay and no job security.
He should be running the country is the simplistic view of the fool.
See this is the foolish thing that people in Ireland believe. O Leary or Ryanair do not circumvent employment law. They pay well and reward hard work.
They pay well? I guarantee you that they do not pay well..
Worked there for 10 years, got very well paid.
So why did you leave?
What did you do there as a matter of interest? I going to call your bluff…
None of your business really. But I’m not from Dublin, and wanted to move back to the countryside, where I’m from. Thanks do your concern you bitter idiot.
Their engineers are the best paid in the industry. A huge demand to get in
and fair play to him. Made parts of the world very accessible to everyone!! 2 hour flights across Europe cheaper than a train journey in Ireland!!
And the reason for that? Propping up Irish Rail and subsidising the rampant inefficiency.
Exactly what the govt did with Aer Lingus until Seamus Brennan gave Tony Ryan a chance from which he has never looked back.
We could learn re Irish Rail / Dublin Bus / etc.
Private operator of Luas gets a subvention equal to or greater than Irish Rail. 2 lines in Dublin V covering the national network. Of course the private operator makes a profit!
Well done Ryanair! A continued Irish success story with a chief exec that pays huge personal taxes in Ireland. I’ve travelled a lot with them this year and have 3 more trips left this year to look forward to.
And do you know how much taxes he pays in Ireland or are you just repeating what the man says himself?
It’s released in the media pretty much every year. It’s a well known fact that he is biggest personal tax payer in the country.
So would you happen to have a link to this outrageous claim? Are personal tax affairs posted in the media? Think you’ll find they’re not. Think you’ll find it’s a private matter between the individual and the media.
I’m willing to be corrected if you can back up your claim.
Think I’ll get plenty of red thumbs but no actual proof. I rest my case.
As you stated earlier, do the googling yourself. It’s easy to find.
Please help me and give me a link.
You can’t. You pulled that claim out of your axx. You can’t back it up.
One quick google search and I found it. He paid €14 million personal tax one year. You should learn how to use google, seeing as you’re found of no linking your own claims and telling people to google them. You’re obviously been sacked by them or have been turned down for a job. Sad really. Bitter little man.
No mention of the real reason profits are up which is the oil price plummet
Ryanair are hedged at higher prices than actual current prices, as they lock in their prices 12-18 months in advance. Next year and Q1 17 will see today’s prices come into play on their bottom line. Sorry to burst your bubble.
Handy bit of price gouging going on too. Some flights over €200 each way for a flight to the Costas in Spain.
I got Madrid return for Halloween for less than €300 for family of 3. Amsterdam for weekend in December for €90 return for the 3 of us. Krakow next week is expensive alright, since EI pulled that route!
how much are these flights with the opposition then ????
EI to Madrid for same period was €450 return, and to Amsterdam €220 return.
Awful weather ?? the weather at the moment here in Dingle is stunning :) Summer is not over yet !!
https://www.facebook.com/TheDinglePeninsula/posts/1122595497768981
Dingle is a beautiful area no doubt, but foreign destinations are far cheaper.
They could buy Dublin airport and build a new runway with the profits.
They offered to build T2 but were turned down, they won’t be offering the DAA anything again!
No mention of the strings attached which was that they would have complete control of the terminal. Very easy to offer something that cannot possibly be accepted.
Once again O’Leary spins a yarn and the gullible Irish lap it up.
You are some moan Tom. Cheer up
Paul. I’m trying to protect people from their own stupidity. I can guarentee you if the Journal was here 10-12 years ago and you raised any questions about Anglo you would be regarded as a negative begrudger who is too happy to knock a great Irish success story.
Ryanair are being hunted across Europe for dodgy employment practices.
I take it your one of Jack o Connors crowd ….the crowd with the 2 m slush fund for foreign trips !!!@ yeah there for the workers alright ….Lmao….
I’m not actually.
I’m just not taken in by bullxxxx which you clearly are. So how many times has ‘straight talking, tell it as it is’ O’Leary apologised to the courts for giving misleading information?
I’m just asking the question, you do the googling.
Hunted? Like deers on a hunt? Were you sacked recently? Bitter.
Tom, you are talking absolute rubbish, I don’t work for them but I do work in the airport and know plenty of their staff. They are treated as well as anyone else in the airport and paid more in some cases. As someone else has already stated you sound suspiciously like someone who didn’t gat a job with them.
Was stuck on a Ryanair plane recently at Madrid airport for 3hours.. The plane taxied to runway and back to the gate with a “technical glitch”….Took them well over an hour to hand out a little drop of water in small plastic cups..
Suppose It would of cost the airline a fortune if they actually give out proper refreshments for the 3 hour delay!
Ryanair really screwing people this year as we all head to the sun
have your say