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Ryanair reports record high profits

  • Budget airline Ryanair reported record full-year profits and revenues on Monday.

    The rise comes in spite of spiralling fuel costs, which increased by more than $374 million, making up for 45 percent of total costs.

    Profits after tax increased by 13 percent to $784 million on revenues of $6.3 billion for the year to March 31.

    Passenger traffic rose by 5 percent to 79.3 million.

    Over the past year, the airline also added 217 new routes, bringing the total to 1,600.

    Tagged as: Ryanair, Business news, Budget airline Ryanair, Ryanair profits