Low-cost airline Ryanair estimates that its annual profit will be at the upper end of its forecasts, driven by an increase in passenger numbers and a reduction in crude oil prices.
In the period from April to September 2015, Ryanair’s pre-tax profit increased by 37%, reaching EUR 1.23 billion, while passenger numbers rose by 13% to 58.1 million, and revenues increased by 14%, exceeding EUR 4 billion.
In September, the company revised its annual profit estimates upwards by 25%, to EUR 1.175 – 1.225 billion, compared to the previously forecast EUR 940 – 970 million.
In this decade, the operator expects to transport 180 million passengers per year, 20% more than the 2015 estimate of 105 million.
The company expects an increase in bookings in 2016 across its main markets, such as Denmark, Germany, Italy, Poland, Spain, and the United Kingdom.
Source: Economica
Frequently Asked Questions
What was Ryanair’s profit growth in the first half of 2015?
Ryanair reported a 37% increase in pre-tax profit, reaching 1.23 billion EUR for the April-September 2015 period.
Why did Ryanair increase its annual profit forecast?
The upward revision was driven by a 13% increase in passenger numbers and lower fuel costs due to falling crude oil prices.
What are Ryanair’s long-term passenger targets?
The airline aims to transport 180 million passengers annually by the end of the decade, a significant increase from its 2015 target of 105 million.