Ryanair: 2011-2012 profits up 25%
The low-cost airline Ryanair has published profits up 25% for its fiscal year 2011-2012 which ended March 31, 2012: pre-tax profits reached 503 million euros against 401 million euros the last year an increase of 25%.
The turnover of the company rose 19% to 4.325 billion euros although the increase in the number of passengers carried was only 9% (75.8 million passengers).
During the new fiscal year the company introduced six bases and launched 330 new roads (out of 1500).
The budget airline has benefited from the bankruptcy of several airlines such as Malev Hungarian, Spanair in Catalonia and Cimber Sterling in Denmark by opening new bases in Budapest and reinforcing in Spain.
It provides for "other airline bankruptcies this year."
This year, Ryanair expects a growth of passenger traffic similar to last year (5%) to 79 million passengers and a decline in profits in the first quarter due to higher oil prices.
Total profits should be down for its 2012-2013 fiscal year ending March 31, 2013 and to between 400 to 440 million euros.