Ryanair profits soar over 60pc

Ryanair profits have soared by over 60 per cent in the past year, the low-cost airline has announced. The rise in profits follows a period in which the company has fought to improve its image among customers, improving its website and lowering hidden fees, which had given the firm a bad reputation.

In the past year, traffic has risen 11 per cent, helping to push net profits up 66 per cent. Earlier loading of schedules led to materially stronger forward bookings, says Ryanair, while its in-house Labs team continues to work on improving its digital and mobile platforms.

"We are pleased to celebrate Ryanair’s 30th Birthday by reporting this 66 per cent increase in net profit which demonstrates the enduring strength of Ryanair’s lowest fare/lowest cost model which has been transformed by the success of our “Always Getting Better” (AGB) customer experience programme," comments Ryanair’s CEO, Michael O’Leary. "AGB has attracted millions of new customers to Ryanair."

Indeed, demand has now meant that the airline's summer 2015 fleet of 320 aircraft is insufficient to handle the number passengers. As a result, Ryanair will lease-in 6 aircraft in the peak period to help.

Ryanair expect over half of its growth to occur at primary airports, such as Brussels, Lisbon, Rome, Athens, Copenhagen, Berlin, Cologne, Dublin and London (STN). 

"Much of this growth is being stimulated by our Business Plus and Family Extra services," adds an official statement from the company.