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Business

Ryanair profit takes off on passenger growth

Irish no-frills carrier Ryanair has reported a strong increase in profit for the fiscal year to March. The airline said improved results were attributable to better customer service leading to higher passenger numbers.

Ryanair reported Tuesday its profit after tax soared to 867 million euros ($948 million) in the fiscal year to March, marking a 66-percent increase in bottom-line earnings year on year.

Europe's largest airline by passenger numbers

saw the volume of its clients rise by 11 percent to 90 million, hitting a much higher level than the 4 percent penciled in at the start of the fiscal year.

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Ryanair discovers service

Executives said a big chunk of the full-year growth was attributable to its Always Getting Better program aimed at turning round Ryanair's reputation for poor customer service.

Tailor-made offers

"Always Getting Better is the key, it has been very well received," finance chief Neil Sorahan said in an interview.

The program has introduced lower fees, flexible tickets for business travelers and a move away from small regional airports.

The airline once again declined to provide any details on whether it planned to accept an offer by British Airways owner IAG for its 30-percent stake in Aer Lingus. "The board of Ryanair will consider any offer from IAG on its merits, if or when it is received," the company said in a statement.

hg/pad (dpa, Reuters)

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