Higher fares, yet more add-on fees and in-flight sales have helped budget carrier Ryanair to huge profits despite the fact that oil prices have soared. People had to pay an average 16 per cent more for flights last year, and with passenger numbers up 5 per cent for the year that meant Ryanair’s profits came in sky high today at nearly half a billion pounds. That represented a lift of 25 per cent on the previous year, despite the country’s economy slipping back into recession by the end of that period. The higher fares – also partly due to the grounding of 80 aircraft over the winter – offset the fact that its fuel costs jumped 30 per cent as world oil prices soared. Profits came in at €502.6million (£405million), which the airline called ‘commendable’ in its statement. It will please boss Michael O’Leary and shareholders, but the passengers who are forced to pay higher ticket prices on top of the airline’s infamous swathe of extra charges will be less thrilled to see the airline’s ancillary revenues – which also include in-flight sales -surged 11 per cent to £714.7million.
http://www.dailymail.co.uk/news/article-2147490/Ryanairs-rip-charges-help-boost-profits-record-400MILLION-despite-higher-fuel-costs.html