Ryanair (LON:RYA) have reported a profit of €245 (£173.7m) for the three months to the end of June, 25 percent higher than last year.
Revenues were also up 10 per cent to €1.65bn and the company are expecting their full year results to be at the top end of their expectations, which were between €940m and €970m issued in May.
However, Ryanair added: “We caution… that this guidance, which is 12% ahead of last year’s profit, is heavily reliant on the final outturn of H2 fares over which we currently have almost zero visibility.”
Passenger numbers increased by 16 per cent to 28m thanks to improved load factors and their new “Always Getting Better” programme, designed to improve passenger experience. According to the company it has attracted “millions” of new customers, prompting CEO Michael O’Leary to say he should have “started being nice years ago”.
The airline has also accepted an offer from International Airlines Group (IAG) for its 29.8% stake in Aer Lingus, saying it “maximises Ryanair shareholder value”.
