Ryanair operates passenger flights throughout the UK, mainland Europe and Morocco. Its rates are well-known for being in many instances competitive with those of Europe’s railways. And even though the airline is equally well-known for charging passengers for just about anything that it can, 30 euros to get from London to, say, Budapest, Rome, or Madrid, to mention just a few destinations, is indeed a very attractive deal, especially considering how much time and money this would cost to do on the train.
The airline reported earnings on Monday showing a fiscal year net profit of 569 million euros ($734 million), 0.40 euros per share, on revenue of 4.88 billion euros. The per share figure beats estimates of 0.39 euros per share, but the meat of the report came from the 13 percent year-on-year revenue increase, as well as a 5 percent year-on-year increase in passengers to 75.8 million.
For the next fiscal year, the Ryanair expects to see a 3 percent growth in traffic, and says that forward bookings on new and previously existing routes for the summer are already ahead of forecast.
And while the company does foresee higher fuel costs eating in to its profit for at least the first quarter of the new fiscal year, a situation that could easily be compounded by further calamity in the Eurozone economies, the fact that it has held up so well given the uncertain circumstances that have persisted on the continent can certainly be taken as an indication of both the company’s health, as well as consumer demand for its services.
The company’s shares jumped over 5 percent during trading on Monday, hitting an all-time high of $48.35 prior to the close.
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