Ryanair Announce Deficit

Ryanair announced the companies’ first deficit in over ten years today. One hundred and sixty nine million was lost. The deficit was due to the airlines thirty percent stake in Aer Lingus which reported a loss of two hundred and twenty two million.

Not taking Aer Lingus into account Ryanair exceeded expectations by announcing a one hundred and five million euro profit despite a fuel bill which has gone up by fifty nine percent. The average amount earned per passenger dropped by eight percent with the average airfare dropping to forty euro.

Passenger numbers were up by fifteen percent for the year. Ancillary revenue rose by a whopping twenty three percent. This includes the sale of food, scratch cards, gift items etc. This is an area that now makes up twenty percent of the airlines entire revenue.

Michael O’ Leary referred to Aer Lingus as a “sideshow for Ryanair” while Michael Cawley of Ryanair stated that there were no current plans to make a further bid for the airline. He went on to say that Ryanair will offer less flights from Dublin Airport if the airports passenger charges continue to rise.